The 32-unit apartment community is located downtown near schools, retail and transportation hubs.
PALO ALTO, CA—This city's investor demand is driven by strong employment fundamentals and low vacancy levels. In fact, job growth in Santa Clara County is projected at 38.2% in the 20 years from 2005 to 2025, which is higher than the surrounding Bay Area projections due to the high-tech punch of firms such as Tesla, SAP, VMWare and Hewlett Packard, for starters.
This bodes well for the multifamily acquisition climate. While it is true that the local multifamily market is tightening, a recent $16.8 million acquisition located at 283-301 and 327 Curtner Ave. proves that value-add opportunities are still available for multifamily investors in this region.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
