S.F. Bay Area townhome deal tops $8M

Units added to affordable housing portfolio

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Hillsdale House, a 48-unit multifamily townhouse community in San Jose, Calif., recently sold for a price of nearly $8.6 million. A local owner of affordable housing purchased the property from a local family trust at a cost that represents $178,125 per unit or $148 per square foot. Located at 1626-1656 Hillsdale Ave., the 57,600-square foot Hillsdale House consists of 16 two-story buildings situated on a 1.8-acre lot. The apartment community features two-bedroom/1.5-bath townhouse-style units. ...