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1622 Pomeroy Avenue represents an exceptional opportunity to acquire a
well-located Santa Clara multifamily asset with immediate and long-term
upside. Its combination of a highly rentable 1BD/1BA unit mix, recent rent
increases, and MUCC zoning makes it an attractive investment for buyers
seeking current income alongside long-term redevelopment optionality.
Currently operating with meaningful value-add potential, the property offers
investors a rare opportunity to capture rent growth as remaining below-market
units turn over, building on the rent increases already effective in October.
Combined with the flexibility afforded by MUCC zoning, ownership has
multiple paths to grow both NOI and long-term asset value.
Santa Clara continues to benefit from its position at the center of Silicon Valley,
with the property situated close to Santa Clara University, Kaiser Santa Clara
Medical Center, and major employers including NVIDIA, Intel, and Applied
Materials. With its efficient unit mix, recently improved rent roll, and MUCC
zoning upside, 1622 Pomeroy Avenue is well positioned for long-term value
creation and equity appreciation.
Five of the eight units recently received rent increases effective October, and additional upside remains through continued unit renovations and repositioning the remaining below-market rents toward market levels.
An all 1-bedroom, 1-bathroom configuration keeps the property easy to lease, easy to turn, and attractive to a broad renter pool across Silicon Valley.
The property's MUCC zoning provides potential long-term redevelopment and value-add opportunities beyond the existing improvements, giving ownership optionality well past the current rent roll.
Ideally located in the heart of Santa Clara, the property offers convenient access to major Silicon Valley employment hubs, sitting approximately 3.2 miles from Santa Clara University and 1.8 miles from Kaiser Santa Clara Medical Center, with close proximity to major employers including NVIDIA, Intel, and Applied Materials.