$4,825,000
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0.28 Acres Lot
SOLD DATE : 08/18/2022
Key Details
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81898099
Sold Date 08/18/22
HOA Y/N No
Year Built 1953
Annual Tax Amount $57,900
Lot Size 0.277 Acres
Property Description
Seller sacrifice. Current owner has increased NOI over 8.5% in less than 5 months.Fantastic opportunity to own well maintained, upgraded units, core Silicon Valley location with clear path to upside. The Cuesta Park neighborhood is highly coveted as it is mostly residential yet walking distance to Caltrain Station, downtown Mt View all its services, hospitals and near all major Silcon Valley employers. Current ownership has established new market rents and has started the process of adding value/income by charging tenants $110/mo for utility use. Additionally Seller is in final stages of entitlement with City of Mt View to add a total of 9 extra bedrooms to property. This property offers savvy investor both solid cash flow now and value add appreciation opportunity all in the heart of Silicon Valley.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R3-1*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 5
Total Parking Spaces 7
Building
Water Public
Schools
School District Other
Others
Tax ID 19306037
Financing Cash
Special Listing Condition Standard
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Bought with Andy Kay eXp Realty of California Inc
