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Five-Property Portfolio Sells for $13.65M

SAN JOSE-Pacific Property Company acquires a five-property apartment portfolio in San Jose for $13.65 million. The properties hold a combined 100 units and are located within six miles of each other.

By Michelle Savage | Updated on September 24, 2002

SAN JOSE-Pacific Property Co., a real estate investment company, has purchased a five-property apartment portfolio in San Jose for $13.65 million. The firm plans to upgrade and rename the properties “Saratoga Grove”.

The five properties are located within two blocks of each other six miles west of Downtown San Jose near Saratoga Avenue. Each property has 13 to 31 units for a total of 100 units. According to Pacific Property, the buildings were built in the late 1950′s and early 1960′s and feature spacious one, two and three-bedroom floor plans, swimming pools and lush landscaping.

Pacific acquired the properties on behalf of its strategic initiative, the Small Property Investment Program, which specializes in the acquisition of smaller multifamily properties in the Bay Area.

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