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1665 Alum Rock Ave - 1665 Alum Rock Ave 0.48 Acres of Commercial Land Offered at $3,248,875 CAD in San Jose, CA 95116
EXECUTIVE SUMMARY
-Primely located near US 101, Interstate 680, and 0.6 miles from the future 28th Street / Little Portugal BART Station. Nearby access to VTA local and regional bus service, including Bus Rapid Transit Route 522 and #22, #23, and #77.
-Designated Urban Village and within “Area B” of the Little Portugal Urban Village Plan. This designation allows for a wide range of stand-alone commercial uses - retail, office, medical, etc. Market-rate residential requires a 0.35 FAR of commercial uses. 100% affordable housing projects could avoid the commercial requirement - presumably a Density Bonus project (15% affordable/85% market rate) could reduce or eliminate the commercial requirement.
-For mixed use development, UV zoning district requires a minimum density of 55 du/ac and maximum overall FAR of 10.0.
-For residential development only, UV requires 55 to 250 du/ac.
-The Property, along with the adjacent site to the west (1661 Alum Rock Avenue), were previously entitled for construction of a six-story, mixed-use development with 123 apartment units and 13,650 square feet of retail space with two underground parking levels on a 0.9-acre project site.
-Designated Urban Village and within “Area B” of the Little Portugal Urban Village Plan. This designation allows for a wide range of stand-alone commercial uses - retail, office, medical, etc. Market-rate residential requires a 0.35 FAR of commercial uses. 100% affordable housing projects could avoid the commercial requirement - presumably a Density Bonus project (15% affordable/85% market rate) could reduce or eliminate the commercial requirement.
-For mixed use development, UV zoning district requires a minimum density of 55 du/ac and maximum overall FAR of 10.0.
-For residential development only, UV requires 55 to 250 du/ac.
-The Property, along with the adjacent site to the west (1661 Alum Rock Avenue), were previously entitled for construction of a six-story, mixed-use development with 123 apartment units and 13,650 square feet of retail space with two underground parking levels on a 0.9-acre project site.
PROPERTY FACTS In Escrow
| Price | $3,248,875 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.48 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | CP - Commercial Pedestrian | ||
| Price | $3,248,875 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.48 AC |
| Opportunity Zone |
Yes |
| Zoning | CP - Commercial Pedestrian |
1 LOT AVAILABLE
Lot
| Price | $3,248,875 CAD | Lot Size | 0.48 AC |
| Price Per AC | $6,831,481.80 CAD |
| Price | $3,248,875 CAD |
| Price Per AC | $6,831,481.80 CAD |
| Lot Size | 0.48 AC |
DESCRIPTION
-Approximately 90' of frontage on Alum Rock Avenue. -Site demolition occurred in Q3 of 2023, resulting in a clear and vacant site. -Height limit 70 feet.
1 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 481-12-109 | Improvements Assessment | $0 CAD |
| Land Assessment | $3,545,441 CAD | Total Assessment | $3,545,441 CAD |
PROPERTY TAXES
Parcel Number
481-12-109
Land Assessment
$3,545,441 CAD
Improvements Assessment
$0 CAD
Total Assessment
$3,545,441 CAD
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1665 Alum Rock Ave - 1665 Alum Rock Ave
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