Offering memorandum available. The Thompson Cottages (481, 487, 493, 499, 505 & 511 Thompson Ave) is a wonderful 24-unit apartment portfolio, consisting of six fourplexes on six contiguous parcels with a total lot size of 71,114 SqFt (1.63 acres). (23) 2-bed/1-bath units and (1) 2-bed/2-bath unit. Single-story cottage style units with large private backyards located off of a quiet street surrounded by mainly single family homes. Current rent of $69,169/month. 23 fully renovated units, and current ownership of 20+ years has consistently improved the property. Value-add potential by repositioning 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 large lot 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.
Listing courtesy of Ismael Benhamida from Marcus & Millichap
Based on information from MLSListings MLS as of All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Copyright 2021 MLSListings Inc. All rights reserved