474-480 Margarita Ave
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474-480 Margarita Ave
4 Unit Apartment Building $2,550,000 ($637,500/Unit) 2.18% Cap Rate Palo Alto, CA 94306
Investment Highlights
- Location in Palo Alto is benefit for Ownership
- Access to employment and San Francisco City and airport
- Property construction in the year made has benefits
Executive Summary
Just south of page mill road off the El Camino Real. The area is called Ventura near College and a bike ride to Stanford University. The schools are very good, and the complex is also good. The building consists of two 2-bedroom units and two 1-bedroom units.
The complex is fully occupied by mostly long-term tenants.
This is a completed Trustee Sale and Seller prefers an As Is sale and can close quickly. 1031 Exchange cooperation is okay.
To see the interiors, please first provide an acceptable contract to the seller. Make all contracts subject to a visual inspection by the Buyer with in 3-4 days so an appointment can be made. One unit upstairs has been improved.
The complex is fully occupied by mostly long-term tenants.
This is a completed Trustee Sale and Seller prefers an As Is sale and can close quickly. 1031 Exchange cooperation is okay.
To see the interiors, please first provide an acceptable contract to the seller. Make all contracts subject to a visual inspection by the Buyer with in 3-4 days so an appointment can be made. One unit upstairs has been improved.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,080
|
$28.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,080
|
$28.94
|
| Taxes |
$2,600
|
$0.85
|
| Operating Expenses |
$28,800
|
$9.46
|
| Total Expenses |
$31,400
|
$10.32
|
| Net Operating Income |
$56,680
|
$18.62
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $88,080 |
| Annual Per SF | $28.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $88,080 |
| Annual Per SF | $28.94 |
| Taxes | |
|---|---|
| Annual | $2,600 |
| Annual Per SF | $0.85 |
| Operating Expenses | |
|---|---|
| Annual | $28,800 |
| Annual Per SF | $9.46 |
| Total Expenses | |
|---|---|
| Annual | $31,400 |
| Annual Per SF | $10.32 |
| Net Operating Income | |
|---|---|
| Annual | $56,680 |
| Annual Per SF | $18.62 |
Property Facts
| Price | $2,550,000 | Apartment Style | Low Rise |
| Price Per Unit | $637,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 2.18% | Building Size | 3,044 SF |
| Sale Conditions | Deferred Maintenance | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 0.33/1,000 SF |
| Price | $2,550,000 |
| Price Per Unit | $637,500 |
| Sale Type | Investment |
| Cap Rate | 2.18% |
| Sale Conditions | Deferred Maintenance |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,044 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 0.33/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 4 | - | 710 - 810 |
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Walk Score ®
Very Walkable (81)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 132-39-055 | Total Assessment | $128,294 |
| Land Assessment | $42,381 | Annual Taxes | $2,600 ($0.85/SF) |
| Improvements Assessment | $85,913 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
132-39-055
Land Assessment
$42,381
Improvements Assessment
$85,913
Total Assessment
$128,294
Annual Taxes
$2,600 ($0.85/SF)
Tax Year
2023
zoning
| Zoning Code | RM4 |
| RM4 |
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474-480 Margarita Ave
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