2388 Karen Dr , Santa Clara, CA 95050
$4,150,000
Est. Payment: $20,882.14/mo
0 Bed
0 Bath
9269 Sqft
Status: pending | Days on site: 26
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House Description

Magnify is pleased to present 2388 Karen Drive, a rare opportunity to acquire a classic value-add apartment community in Santa Clara, one of the most landlord-friendly rental markets in Silicon Valley. Ideally located 2 miles from NVIDIA and 3 miles from Apple, the property offers investors an excellent location with significant upside in an irreplaceable employment corridor. Offered for sale for the first time in 40+ years, the building consists of 9,269 building square feet on a large 0.37-acre parcel. The property features a desirable unit mix of (8) 2BD/1BA and (4) 1BD/1BA, catering to a broad tenant base. Residents benefit from dishwashers, functional floor plans, and a swimming pool that enhances tenant appeal and retention. Several major capital improvements include a new roof (2019) and water heater (2026). The property also has copper plumbing, low-maintenance hardscaping, and completed the SB-721 inspection. This asset presents a compelling investment with over 30% upside in rental income through renovations. Combining substantial income upside and a premier location near some of the world's largest technology employers, 2388 Karen Drive represents a rare opportunity for a high-growth property with immediate and long-term value creation potential.

Highlights

Listed by David Katz , 408-438-0585 and Eric Katz , 408-317-0187 Magnify Real Estate , (877) 776-7718. CRMLS/Multi-Regional MLS mls logo

Property Type

Commercial Sale

Lot/Acreage
0.37

Year Built

1963

County

Santa Clara

Area

699 - Not Defined

School District

Other

Listing ID

ML82050774

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Other:Public

Exterior Features

Lot:No Land Lease
Garage Capacity:0
Zoning:R3
Roof:Composition,Shingle
Others:2+ Total Units
Principal Interest
$20,882
Taxes
$4,118

Home Price

$4,150,000

Loan Details

30 yrs
6.453%

Down Payment

20%
$830,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$20,882.14

Principal

Taxes

Principal Taxes HOA Total
Monthly $20,882.14 $4,118.08 $0.00 $25,000.23
Yearly $250,585.73 $49,417.00 $0.00 $300,002.73
Total $7,517,571.81 $1,482,510.00 $0.00 $9,000,081.81

Today's Rates

30 Year

6.45%

20 Year

6.33%

15 Year

5.88%

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Market insight data is pulled from the same city as the listing being viewed (Santa Clara, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-08-08T10:35:52.000Z

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