465 Chiquita Avenue 465 Chiquita Ave
4 Unit Apartment Building $3,198,000 ($799,500/Unit) 2.67% Cap Rate Mountain View, CA 94041
INVESTMENT HIGHLIGHTS
- Desirable Location - near many tech employers like Google, Apple, Microsoft, and Amazon.
- Private Garages - eight total parking spots, four enclosed with private washers and dryers.
- Excellent Unit Mix - Unit 1 - two bedroom/two bath, unit 2 two bedroom/one bath, unit 3 - two bedroom/one bath, unit 4- three bedroom/2 bath.
- Prestigious School District Potential to convert the sections of the parking into an ADU for additional income.
EXECUTIVE SUMMARY
Introducing an exceptional generational investment opportunity in the heart of Mountain View, CA. This 4,846 SF property boasts four exceptionally large units, offering a prime investment for an investor or owner-occupier. Its prime location in the desirable Mountain View area positions it as a lucrative and sought-after asset in the thriving real estate market. Investors will appreciate the potential for steady rental income and long-term growth in this highly desirable and competitive rental market. Additionally, the property presents an opportunity to add an ADU, increasing overall income in an already supply-restrained market. Recent Upgrades include a new roof replaced in 2021, Milgard double-pane windows, and recent new exterior paint. Don't miss the chance to capitalize on this remarkable multifamily investment in an indemand location.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS Under Contract
| Price | $3,198,000 |
| Price Per Unit | $799,500 |
| Sale Type | Investment |
| Cap Rate | 2.67% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 4,846 SF |
| No. Stories | 2 |
| Year Built | 1964 |
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $2,950 | 910 - 1,000 |
| 3+2.5 | 1 | $4,750 | 1,200 |
| 2+2 | 1 | $3,250 | 1,750 |
1 of 1
Walk Score®
Very Walkable (73)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 154-23-019 | Improvements Assessment | $386,322 (2023) |
| Land Assessment | $1,287,759 (2023) | Total Assessment | $1,674,081 (2023) |
