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Multifamily

Twin Palms Apartments

1977 Plymouth St, Mountain View, CA 94043

Listing Price: $3,895,000

Cap Rate
3.51%
Number of Units
11
Price/Unit
$354,091

Investment Overview

Marcus & Millichap is excited to bring to market an outstanding single-story multifamily property located at 1977 Plymouth Street in Mountain View, California. The subject property was constructed in 1961 and sits on a large 23,400 square foot lot (per county assessor) and offers a net rentable square footage of 5,900 square feet of living space (per county assessor). 1977 Plymouth Street consists of a one-bedroom single-family home with a detached garage in addition to ten single-story one-bedroom/one-bathroom units totaling 11 total units. The property is attractive for investors, owner-users, and developers alike given the potential upside in rents, the private single-family home owners unit, and massive lot size with proven development potential based recent projects nearby. The property is located in the Monta Loma/Farley/Rock neighborhood which boasts walkability and safety. Commuters benefit from close proximity to major job markets as it is tucked between the Peninsula and South Bay tech economy comprised of Google, Apple, Facebook, NVIDIA, Tesla, Oracle, Genentech, and many more. Additionally, there are two luxury single-family home projects being developed within a quarter mile of this site, which will be valued between $1.5M to $2M+. Mountain View has a population of 81,000 residents, one of the highest in Santa Clara County. The median property value is two million and the homeownership rate is 41%. The median household income is $139,720 which is also one of the highest in all of Santa Clara County. The property feeds into Monta Loma Elementary, Crittenden Middle, Los Altos High, while also being only 13 miles from Stanford University. Residents at 1977 Plymouth Street benefit from a half mile walk to Rengstorff Center and a two mile walk to San Antonio Center, which hosts a plethora of notable restaurants and shops. 1977 Plymouth Street’s attractive attributes highlighted above will allow for new ownership to continue to garner high rental demand, rent growth, and appreciation for many years to come.

Investment Highlights

  • Private Single-Family Home Owners-Unit with a Private Garage and Washer/Dryer
  • New Luxury Single Family Home Developments within a Quarter Mile of the Property
  • Located in the Highly Desirable Monta Loma/Farley/Rock Neighborhood of Mountain View which is walking distance to Google Headquarters
  • Ideal Opportunity for Owner-Users, Investors, and Developers Alike
  • Attractive Single-Story Apartment Complex Situated on a 23K+ Square Foot Lot

Exclusively Listed By

Multifamily

Twin Palms Apartments

Listing Price: $3,895,000

Cap Rate
3.51%
Number of Units
11
Price/Unit
$354,091

Investment Highlights

  • Private Single-Family Home Owners-Unit with a Private Garage and Washer/Dryer
  • New Luxury Single Family Home Developments within a Quarter Mile of the Property
  • Located in the Highly Desirable Monta Loma/Farley/Rock Neighborhood of Mountain View which is walking distance to Google Headquarters
  • Ideal Opportunity for Owner-Users, Investors, and Developers Alike
  • Attractive Single-Story Apartment Complex Situated on a 23K+ Square Foot Lot

Investment Overview

Marcus & Millichap is excited to bring to market an outstanding single-story multifamily property located at 1977 Plymouth Street in Mountain View, California. The subject property was constructed in 1961 and sits on a large 23,400 square foot lot (per county assessor) and offers a net rentable square footage of 5,900 square feet of living space (per county assessor). 1977 Plymouth Street consists of a one-bedroom single-family home with a detached garage in addition to ten single-story one-bedroom/one-bathroom units totaling 11 total units. The property is attractive for investors, owner-users, and developers alike given the potential upside in rents, the private single-family home owners unit, and massive lot size with proven development potential based recent projects nearby. The property is located in the Monta Loma/Farley/Rock neighborhood which boasts walkability and safety. Commuters benefit from close proximity to major job markets as it is tucked between the Peninsula and South Bay tech economy comprised of Google, Apple, Facebook, NVIDIA, Tesla, Oracle, Genentech, and many more. Additionally, there are two luxury single-family home projects being developed within a quarter mile of this site, which will be valued between $1.5M to $2M+. Mountain View has a population of 81,000 residents, one of the highest in Santa Clara County. The median property value is two million and the homeownership rate is 41%. The median household income is $139,720 which is also one of the highest in all of Santa Clara County. The property feeds into Monta Loma Elementary, Crittenden Middle, Los Altos High, while also being only 13 miles from Stanford University. Residents at 1977 Plymouth Street benefit from a half mile walk to Rengstorff Center and a two mile walk to San Antonio Center, which hosts a plethora of notable restaurants and shops. 1977 Plymouth Street’s attractive attributes highlighted above will allow for new ownership to continue to garner high rental demand, rent growth, and appreciation for many years to come.

Exclusively Listed By

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