$4,825,000
$4,988,000
3.3%For more information regarding the value of a property, please contact us for a free consultation.
1 Bed
1 Bath
5,480 SqFt
SOLD DATE : 02/15/2022
Key Details
Sold Price $4,825,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 5,480 sqft
Price per Sqft $880
MLS Listing ID ML81867150
Sold Date 02/15/22
Bedrooms 1
Full Baths 1
Year Built 1953
Lot Size 0.251 Acres
Property Description
Offering memorandum available. Pride of ownership 12-unit apartment complex with two six-unit buildings (366 & 372 Camille Ct) situated on one parcel with all updated one-bed/one-bath units with vaulted ceilings. Prestigiously located in the Cuesta Park neighborhood south of El Camino Real where homes are $1500+/SqFt. Walking distance to Downtown MV & Caltrain. Current monthly rent is $23,778. CAP Rate: 3.87% Current, 5.28% Proforma. GRM: 17.56 Current, 14.46 Proforma. 100% occupancy & collections. Current ownership of 13 years has consistently improved the property. All units have hardwood & slate floors, upgraded bathrooms & kitchens, & dual pane windows. New 50 year PVC roof in 2017, new carport in 2018, and pavement in 2019. Opportunity to add further value by adding in-unit laundry & private patios, renting out the large storage unit for additional income, and continuing the repositioning of the property to the high specification preferences of Silicon Valley technology employees.
Location
State CA
County Santa Clara
Area Miramonte
Zoning R3-1*
Rooms
Kitchen Countertop - Granite, Freezer, Oven Range - Gas, Refrigerator
Interior
Heating Wall Furnace
Cooling Ceiling Fan
Flooring Hardwood, Slate
Laundry Coin Operated
Exterior
Exterior Feature Fenced, Low Maintenance, Storage Shed / Structure
Parking Features Assigned Spaces, Carport , Covered Parking, Off-Street Parking, Parking Area, Uncovered Parking
Community Features Additional Storage
Utilities Available Public Utilities
Roof Type Polyurethane
Building
Lot Description Grade - Level
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 193-06-037
Security Features None
Special Listing Condition Not Applicable
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Bought with Andy Kay • eXp Realty of California Inc
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