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Barcelona Apts. Changes Hands

San Jose Apt. Complex Sells from One Trust to Another
January 16, 2018
The private trust that owns the Barcelona Apts. at 15 Hawthorne Way in San Jose has sold the 25-unit complex to another private trust for $9.5 million, or about $380,000 per unit, in a 1031 exchange.

The Spanish-style building was completed in 1932 and features two studios, 18 one-bedroom/one-bath units and five two-bedroom/one-bath units. It traded at a reported 3.64% cap rate. It last traded in 1999.

Robert Johnston, Michael Henshaw and Adam Levin of Marcus & Millichap represented both parties in this sale.

For more information on this transaction, please refer to CoStar COMP #4088757.
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