54 Cleland Ave
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54 Cleland Ave
8 Unit Apartment Building $4,350,000 ($543,750/Unit) 2.78% Cap Rate Los Gatos, CA 95030
Investment Highlights
- Located in the very center of downtown Los Gatos
- Each unit has been designed with functionality and privacy
- Mountain and Town Views
- Close to Los Gatos Creek Trail, local restaurants, town square, farmers market, and local parks, and so much more
- This property has a mixture of 2 bedroom units; 1 enclosed bedroom plus a loft bedroom and 1 bedroom studio/loft units.
- Los Gatos-Saratoga Joint Union High School District
Executive Summary
Welcome to this Incredible Carmel Style multiplex located in the very center of downtown Los Gatos. This property boasts 4 separate buildings with a total of 8 total units and approximately 7339 square feet of living space on a 15,000 square foot hillside lot. This location is hard to beat, making this an exceptional investment opportunity. Located just moments from the Los Gatos Creek Trail, local restaurants, town square, farmers market, and local parks, and so much more! Stunning mature oak trees and redwoods cradle the buildings at this complex. Each unit has been designed with functionality and privacy, with each offering a spacious deck, high loft ceilings, and open living feel. This property has a mixture of 2 bedroom units (1 enclosed bedroom plus a loft bedroom) and 1 bedroom studio/loft units. Don't miss this incredible investment opportunity!
7,339 Sqft
0.35 Acres
15,246 Sqft
Views: City Lights, Downtown, Greenbelt, Mountains, Valley
Public Utilities
Los Gatos-Saratoga Joint Union High
7,339 Sqft
0.35 Acres
15,246 Sqft
Views: City Lights, Downtown, Greenbelt, Mountains, Valley
Public Utilities
Los Gatos-Saratoga Joint Union High
Financial Summary (Actual - 2023) 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
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,350,000 | Apartment Style | Garden |
| Price Per Unit | $543,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 2.78% | Building Size | 7,339 SF |
| Gross Rent Multiplier | 18.17 | Average Occupancy | 95% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 0.95/1,000 SF |
| Price | $4,350,000 |
| Price Per Unit | $543,750 |
| Sale Type | Investment |
| Cap Rate | 2.78% |
| Gross Rent Multiplier | 18.17 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 7,339 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 0.95/1,000 SF |
Unit Amenities
- Balcony
- Fireplace
- Microwave
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,500 | 400 - 500 |
| 1+1.5 | 4 | $2,863 | 900 |
| 2+1.5 | 3 | $2,705 | 850 - 900 |
1 of 1
Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 529-33-024 | Improvements Assessment | $1,738,478 |
| Land Assessment | $1,770,673 | Total Assessment | $3,509,151 |
PROPERTY TAXES
Parcel Number
529-33-024
Land Assessment
$1,770,673
Improvements Assessment
$1,738,478
Total Assessment
$3,509,151
zoning
| Zoning Code | RMH (Multi Family Dwelling) |
| RMH (Multi Family Dwelling) |
-
Samantha Moser-Wingo -
The Agency
(408) 857-2026
x801
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54 Cleland Ave
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