:: Cerna Group of Marcus & Millichap

8 APARTMENT UNITS RAINBOW APARTMENTS 777 South Second Street San Jose, CA 95112

INVESTMENT OVERVIEW

This well maintained apartment building consists of (1) two-story building totaling approximately 4,402 square feet and is situated on a parcel totaling approximately 6,500 square feet (0.15 acres). The unit mix features (8) one-bedroom/one bath apartments. The average unit size of the apartments is approximately 550 square feet.

The building is wood framed with stucco siding. The roof is flat tar and gravel. There are (4) carport parking spaces in the front of the property and (4) in the rear. The apartments are individually metered for gas and electricity and the tenants pay their own phone and cable. A laundry facility on-site is available, providing convenience for residents an additional source of income for the owner.

INVESTMENT HIGHLIGHTS

Upside in Current Income Stream
Well Maintained Building and Units
Centrally Located Near Downtown San Jose, Close to Major Freeways
Rents Have Increased 22% in Santa Clara County Since 2006

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