Environs is a value-add purchase of a low-density, 318 unit apartment complex, built in 1984 and located in the city of Westminster. Environs is ideally situated to benefit from a value-add renovation program due its central location, large units, and strong demographics. Environs has a unique unit mix consisting of 100 apartments, 94 townhomes, 71 patio homes and 43 single family homes. With 208 larger town, patio and single family homes, and 110 apartments that average 1,100sf, Environs offers a unit mix and product unlike any other in the marketplace. The average unit size for the Property is in excess of 1,200 square feet. The previous owner renovated 49 units and achieved a rent premium of $150-$200 per month. There is tremendous upside opportunity to upgrade unit interiors, common areas, and amenities. Seagate is budgeting approximately $3,000,000 in capital improvements ($9,434/unit) including 60 custom unit upgrades, siding repairs, exterior paint, pool/clubhouse upgrades, landscaping improvements, and common area improvements.
Hellyer Oaks Technology Park offers a timeless architectural design with curved glass at corners. The project was completed in 1984 and is comprised of two office/R&D buildings containing approimately 350,000 sf. The site encompasses 20.95 acreas of land in Sourthern San Jose.
Parking is provided by perimeter surface lots with ~1,178 parking spaces. Conveniently located adjacent to US Highway 101 and Highway 85, providing easy access to North San Jose, the rest of Silicon Valley, the Peninsula and Morgan Hill. Seagate managed new lobby and entrance renovations bringing modern sophistication to the complex.
Interior and exterior renovations now complete and immediately available – design your own interior!