A stake in a big San Jose apartment complex has been bought — yet the deal hints at weaker residential values.
SAN JOSE — A stake in a big San Jose apartment complex has been bought by a Southern California investment group — yet the deal hints at weaker property values for rental housing.
Los Angeles-based JRK Property Holdings bought the apartment complex, according to state and county real estate and public business documents. That’s because the assessed value of the Duo Apartments was $134.2 million — excluding the value of the land and including only the value of the buildings — as of the end of June 2023.The just-bought Duo Apartments complex was built in 2020. A 24-hour fitness center, lounge, spa, game room, grill and swimming pool that’s available 24 hours a day are among the amenities. The buildings are five stories high.
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