Investment Overview

Marcus and Millichap is pleased to present 1555 Washington Street, a well-maintained six-unit single-story multifamily property in Santa Clara, California. Five of the units were constructed in 1953, complemented by a recently built 600-square-foot ADU added in 2023. Each unit offers a one-bedroom, one-bathroom floor plan, with a total estimated rentable area of approximately 2,690 square feet (buyer to verify). All units are equipped with in-unit washers and dryers, adding convenience and appeal for tenants. The property sits on an 8,037-square-foot lot and currently delivers a strong in-place cap rate of 5.39%. Notably, all electrical systems were fully upgraded in 2023, ensuring the property meets modern safety and efficiency standards. Located just minutes from Santa Clara University, NVIDIA, San Jose International Airport, and other major employment hubs, the property offers convenient access to El Camino Real, providing seamless connectivity throughout Santa Clara and neighboring San Mateo County. The rental market in Santa Clara remains robust, supported by sustained demand from the technology sector and proximity to prominent employers. Recently, TikTok signed a significant new lease near this property, highlighting continued tech industry growth in the region. According to Zillow, the median home price in Santa Clara has held steady around $1.5 million since January 2024, underscoring the strength of the local housing market and ongoing rental demand. With major institutions and transportation corridors nearby, 1555 Washington Street is well-positioned to benefit from continued rent growth and low vacancy rates. This offering represents a rare opportunity to acquire a single-story rental asset in a highly sought-after market. Combining classic mid-century character with a modern ADU, recent electrical upgrades, and in-unit laundry amenities, this property is poised to attract long-term tenants. For investors seeking stable cash flow and exposure to Silicon Valley’s dynamic economy, 1555 Washington Street offers a compelling addition to any portfolio.