255 Mariposa Ave
6 Unit Apartment Building $3,200,000 ($533,333/Unit) 4.92% Cap Rate Mountain View, CA 94041
INVESTMENT HIGHLIGHTS
- Diverse Unit Mix: Options for different tenant profiles and flexibility for owner-occupancy.
- Turnkey Opportunity: All units are currently leased at market rent.
- Live-and-Invest Potential: Occupy the owner's unit while using income from the other five units to offset your mortgage.
- Exceptional Tenant Appeal: Features include tuck-under parking, private yards for select units, shared laundry, and updated interiors.
- Silicon Valley Location: Situated in a robust rental market with high demand and strong appreciation potential.
EXECUTIVE SUMMARY
255 Mariposa Avenue is a meticulously maintained multi-family property in Mountain View, CA. This prime Silicon Valley investment offers six units, including a spacious 3-bed/2-bath owners unit with updated interiors, in-unit laundry, central heating/air, a private yard, and a 2-car garage. Two updated 1-bed/1-bath units feature tuck-under parking, storage, and one with central heating/air. Three 2-bed/1-bath units include updated interiors, two designated parking spaces, storage, and central heating/air in two units. A ground-floor 2-bed/1-bath unit with a private yard could also serve as an owners unit.
Tenants benefit from designated parking, shared laundry for five units, and central heating/air in four of the six units. All leased units are at market rent, providing immediate cash flow and long-term upside. Located within walking distance of Downtown Mountain View, this property offers easy access to shops, restaurants, tech employers, freeways, and CalTrain. With the owners unit vacant, this is a prime opportunity for investors or owner-occupants. Contact me for details and to schedule a private viewing.
Tenants benefit from designated parking, shared laundry for five units, and central heating/air in four of the six units. All leased units are at market rent, providing immediate cash flow and long-term upside. Located within walking distance of Downtown Mountain View, this property offers easy access to shops, restaurants, tech employers, freeways, and CalTrain. With the owners unit vacant, this is a prime opportunity for investors or owner-occupants. Contact me for details and to schedule a private viewing.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $3,200,000 |
| Price Per Unit | $533,333 |
| Sale Type | Investment |
| Cap Rate | 4.92% |
| Gross Rent Multiplier | 14.21 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 10,324 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,350 | 685 |
| 2+1 | 3 | $3,035 | 825 |
| 3+2 | 1 | $5,150 | 1,250 |
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 154-10-067 | Total Assessment | $221,346 (2023) |
| Land Assessment | $35,281 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $186,065 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | R3-2* |
CONTACT
-
Alicia Nardini - NuTerra Real Estate Group
