Leasing has begun at LMC’s Capital 650 in Milpitas. The 351-unit apartment complex is a transit-oriented development across the street from the new Milpitas BART station and Montague VTA light rail station. First move-ins at the five-story community are anticipated for August.
“The entire area surrounding Silicon Valley is booming with new development, and it comes without the ultra-high price tag of living directly in the Valley or San Francisco,” LMC Division President of California JJ Abraham said in a statement.
Rents in Milpitas average about $2,600 compared to about $3,600 in San Francisco, according to RentCafé.
Capitol 650 consists of one- and two-bedroom apartment homes of varying sizes. Apartment interiors have nine-foot ceilings, quartz countertops with full ceramic tile backsplashes, modern cabinetry, custom pendant lighting, stainless steel appliances, wood-style flooring, full-size washers and dryers, walk-in closets, automated roller shades and programmable thermostats.
Community amenities include an outdoor swimming pool, a sky deck, a resident lounge, a game room, a pet washing and grooming station, a large mailroom with Amazon Hub package lockers, spa, barbecue space, a two-story fitness and training facility and a rooftop entertainment room with floor-to-ceiling glass and skyline views. The panoramic sky deck features a fire pit and seating areas. Residents also have access to private bike storage with adjacent on-site bike repair.
In addition to access to regional highways and interstates, the complex is 5 miles from the San Jose International Airport and 40 minutes from Oakland International Airport. The bikeable, walkable community is next to the Great Mall of the Bay Area, which contains 1.4M SF of shopping and dining. The community also has access to over 1 acre of on-site public parks.
Including Capitol 650, LMC, a wholly owned subsidiary of Lennar, has more than 1,500 apartment homes in operation or under construction in the Bay Area. LMC has a 24,400-unit pipeline consisting of high-rise, mid-rise and garden apartments nationwide.
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