Investment Overview

Located in the heart of Santa Clara, Marcus and Millichap is excited to present, 3588 Agate Drive, a rare six-unit multifamily opportunity offering investors an attractive, low-maintenance asset in one of Silicon Valley’s most supply-constrained and high-demand rental markets. The unit mix consists of one single-story three-bedroom, two-bath unit, four spacious two-bedroom, one-and-a-half-bath townhome-style units, and one two-bedroom, one-bath flat. This desirable configuration appeals to a broad tenant base, especially families and professionals seeking functional layouts with more privacy and space. According to county records, the property features approximately 6,335 rentable square feet and sits on a large 14,000 square foot lot. Tenants benefit from an exceptional central location with outstanding transit access. The property is just a five-minute walk to the Lawrence Caltrain Station and a seven-minute walk to the Monroe and Monticello VTA bus stops, providing direct connectivity to employment hubs throughout the Peninsula and South Bay. Just minutes from the property are some of the world's most influential technology companies, including Applied Materials, Intel, AMD, Dell, and NVIDIA, fueling strong rental demand and reducing vacancy risk. Importantly, Santa Clara does not have local rent control, giving investors greater flexibility to increase income and realize long-term upside. With limited new housing construction coming to market, Agate Drive represents a chance to purchase six units in a city where new multifamily development is often cost-prohibitive. Further adding to the investment appeal, the average single-family home in Santa Clara has sold for over $1.8 million over the past 12 months, according to Zillow. This makes 3588 Agate Drive an exceptional value-add opportunity to own six units at a fraction of that cost, with the ability to achieve attractive rent premiums for townhouse-style layouts. It also represents a chance to acquire quality construction well below replacement cost, which is virtually impossible to replicate in today’s market. With a strong economic base, ongoing rent growth, and limited multifamily inventory, 3588 Agate Drive offers a rare opportunity to acquire a well-located, income-producing asset in a submarket poised for long-term appreciation.