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Milpitas Multifamily Community Fetches $5.3 Million

March 2, 2018
A private investor has purchased the 16-unit apartment complex at 186-192 Selwyn Dr. in Milpitas, CA for $5.3 million, or about $331,000 per unit.

The property was constructed in 1963 and traded at a 4.16% cap rate. This was the highest-value apartment complex sale in Milpitas in over a year.

Justin Bautista of Newmark Cornish & Carey represented the seller, a private trust. The buyer was represented by Joel Hopman, also of Newmark Cornish & Carey.

For more information on this transaction, please refer to CoStar COMP #4114013.
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