Sunday, February 04, 2007

Crossroads Milpitas

Almost a year ago Pacifica Companies of San Diego has paid $41.7 million ($206,000 per unit) for a 200-unit Indian Hills apartment community in Milpitas and started to convert it to condominiums. Built in 1976, apartment complex totals 160,930 square feet on a 10.24 acre site at 450 Dempsey Road, Milpitas. The average rent was around $1,700 for two bedrooms apartment in 2001. The apartment complex is one of the many others conversion projects of Pacifica Companies in Bay Area. Last year the builder converted and put to real estate market 176 condos in Cupertino Villas - 880 E Fremont Ave, Sunnyvale; 332 condos in Sierra Crest Villas - 610 Teatree Court, San Jose; 135 condos in Alta Mar Villas - 3695 Stevenson Blvd, Fremont; and 248 condos in Baywood Villas - 3190 Red Cedar Terrace, Fremont.

The Crossroads Milpitas apartment conversion offers one-, two- and three-bedroom units from 679 sf to 1,021 sf and priced from the high $200,000's. The new homeowners would get a pool, spa, club room and even lighted tennis court. The recent sales show the price around $280,000 for one bedroom, one bathroom condo and $370,000 for two bedroom, one bathroom condo. The homeowners association (HOA) fees set as $220 per month (check with seller what of the following covered by HOA : water, heater, garbage collection, electricity for exterior lighting, landscaping and plants, painting, vinyl and pressure washing, fences, carports, roads and paving, management fees, roofing, sometimes doors, termite damage, insurance, pool maintenance, legal fees, postage and sometimes security)

According to MUSD (Milpitas Unified School District) attendance area boundaries condo complex kids serves by Randall Elementary school (API 718), Rancho Middle school (API 781) and Milpitas High School (API 748).

The VTA light rail line opened for service in 2004 and an future BART station near the Milpitas Great Mall light-rail station located just in minutes by car from Crossroads Milpitas condos.

One downside is the smell, sometimes the prevailing winds seem to unfortunately push the stench of San Jose's sewage plant and landfills toward the Milpitas, but the odor complaints have dropped in the recent times.


Anonymous said...

Isn't Milpitas considered the armpit of the Bay Area?

Anonymous said...

At least it's a safe Armpit ! not like Sj , Oakland there is one cop here for every person :O)