Multifamily
1047 Rich Ave
1047 Rich Ave, Mountain View, CA 94040
Listing Price: $4,620,000
Investment Overview
1047 Rich Ave is a stunning 14-unit apartment community located in the thriving city of Mountain View, CA.
Situated on a 19,402 square foot parcel of land, the subject property was originally constructed in 1958 and features a gross building area of approximately 7,096 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom and studio floor plans. The subject property also offers tenants convenient community amenities such as private covered carports, storage lockers and an on-site laundry facility.
1047 Rich Ave is located in the city of Mountain View in the South Bay's Santa Clara County. This well-positioned market rests directly below Palo Alto, one of the strongest residential markets in all of California. The city of Mountain View has been credited with many of the new technologies and markets originating in Silicon Valley. While leading the region in innovation and ideas, Mountain View harbors some of the nation’s top tech employers including Google, Microsoft, LinkedIn, Symantec, and Intuit.
In addition to the countless tech employers, the subject property is also located within walking distance to Downtown Mountain View (1 mile) and the San Antonio Shopping Center (1.9 miles). Downtown Mountain View and Castro Street play a unique role within the community and offer more than 20 retailers and 70 restaurants. The downtown area boasts the City Civic Center and the Center of Performing Arts landmark, providing a myriad of high-end dining, shopping, and entertainment options.
The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 1047 Rich Ave is a highly coveted place to call home for South Bay renters due to its close proximity to major employers, transportation corridors, as well as its extensive dining, shopping, and entertainment options.
The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 1047 Rich Ave is a highly coveted place to call home for South Bay renters due to its close proximity to major employers, transportation corridors, as well as its extensive dining, shopping, and entertainment options.
Investment Highlights
- Located within the Prestigious Los Altos School District - The subject property is located in the highly renowned Mountain View Los Altos High School District.
- Exceptional Mountain View Investment Opportunity - Investors have the opportunity to acquire a well-situated multifamily asset located in the heart of Silicon Valley.
- Convenient Community Amenities - 1047 Rich Ave features convenient community amenities such as private covered carports, storage lockers and an on-site laundry facility.
- Unprecedented Rent Growth - Mountain View has experienced an unparalleled surge in rent prices following the pandemic, largely attributed to the adoption of hybrid or fully in-person work models by the area's prominent tech corporations.
- Abundant Lifestyle Amenities - The subject property offers close proximity to countless lifestyle amenities in its downtown district including over 20 boutique retailers and over 70 high-end restaurants.
Exclusively Listed By
Listing Price: $4,620,000
Investment Highlights
- Located within the Prestigious Los Altos School District - The subject property is located in the highly renowned Mountain View Los Altos High School District.
- Exceptional Mountain View Investment Opportunity - Investors have the opportunity to acquire a well-situated multifamily asset located in the heart of Silicon Valley.
- Convenient Community Amenities - 1047 Rich Ave features convenient community amenities such as private covered carports, storage lockers and an on-site laundry facility.
- Unprecedented Rent Growth - Mountain View has experienced an unparalleled surge in rent prices following the pandemic, largely attributed to the adoption of hybrid or fully in-person work models by the area's prominent tech corporations.
- Abundant Lifestyle Amenities - The subject property offers close proximity to countless lifestyle amenities in its downtown district including over 20 boutique retailers and over 70 high-end restaurants.
Investment Overview
1047 Rich Ave is a stunning 14-unit apartment community located in the thriving city of Mountain View, CA. Situated on a 19,402 square foot parcel of land, the subject property was originally constructed in 1958 and features a gross building area of approximately 7,096 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom and studio floor plans. The subject property also offers tenants convenient community amenities such as private covered carports, storage lockers and an on-site laundry facility. 1047 Rich Ave is located in the city of Mountain View in the South Bay's Santa Clara County. This well-positioned market rests directly below Palo Alto, one of the strongest residential markets in all of California. The city of Mountain View has been credited with many of the new technologies and markets originating in Silicon Valley. While leading the region in innovation and ideas, Mountain View harbors some of the nation’s top tech employers including Google, Microsoft, LinkedIn, Symantec, and Intuit. In addition to the countless tech employers, the subject property is also located within walking distance to Downtown Mountain View (1 mile) and the San Antonio Shopping Center (1.9 miles). Downtown Mountain View and Castro Street play a unique role within the community and offer more than 20 retailers and 70 restaurants. The downtown area boasts the City Civic Center and the Center of Performing Arts landmark, providing a myriad of high-end dining, shopping, and entertainment options. The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 1047 Rich Ave is a highly coveted place to call home for South Bay renters due to its close proximity to major employers, transportation corridors, as well as its extensive dining, shopping, and entertainment options. The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 1047 Rich Ave is a highly coveted place to call home for South Bay renters due to its close proximity to major employers, transportation corridors, as well as its extensive dining, shopping, and entertainment options.