499-511 Thompson Ave, Mountain View, CA 94043

$7,750,000
8,656
SqFt
List Price
$7,750,000
MLS#
ML81825574
Status
ACTIVE
Sqft. of Residence
8,656
Lot Size
33,997
Listing Area
Thompson
Year Built
1963

Property Description

Offering memorandum available. The North Thompson Cottages (499, 505, and 511 Thompson Avenue) is a wonderful 12-unit apartment portfolio, consisting of three fourplexes on contiguous parcels with a total lot size of 33,997 SqFt. (0.78 acres). Twelve 2-bed/1-bath units totaling 8,656 SqFt. Single-story cottage style units with large private backyards located off of a quiet street comprised of mainly single family homes. Current rent of $33,741/month. Fully renovated units, and current ownership of over 20 years has consistently improved the property. Value-add potential by continuing the repositioning of the property to the preferences of tech employees. Each parcel can be sold individually providing a flexible exit strategy. Further, this asset is well positioned for potential redevelopment due to its size and location. Located 1.3 miles from Google's headquarters. Feeds into top ranked Los Altos High School. Great opportunity for both the cash flow and appreciation minded investor.

Additional Information

Acres
0.7805
Age
58
Building Name
Thompson Cottages
Cooling System
Ceiling Fan
Energy Features
Double Pane Windows
Floor Covering
Laminate
Foundation
Concrete Perimeter
Garage Parking
Assigned Spaces, Carport, Covered Parking, Off-Street Parking, Parking Area, Uncovered Parking
Heating System
Gas, Wall Furnace
Laundry Facilities
Coin Operated
Living Area
8,656
Lot Description
Grade - Level
Lot Size
33,997
Neighborhood
Thompson
Other Rooms
Laundry Room, Storage
Other Utilities
Individual Electric Meters, Natural Gas, Public Utilities
Roof
Shingle
Sewer
Sewer - Public
Zoning
R3-25

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Ismael Benhamida from Marcus & Millichap

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