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Key Details
Sold Price $4,825,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81867150
Sold Date 02/15/22
HOA Y/N No
Year Built 1953
Annual Tax Amount $59,701
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 699 - Not Defined
Zoning R3-1*
Interior
Heating Wall Furnace
Fireplace No
Exterior
Carport Spaces 5
Total Parking Spaces 7
Building
Lot Description Level
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Mountain View
School District Other
Others
Tax ID 19306037
Financing Private
Special Listing Condition Standard
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Bought with Andy Kay eXp Realty of California Inc.
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Ivan Perez
Broker Associate | License ID: 01952891
Broker Associate License ID: 01952891