Multifamily

505 Thompson Avenue

505 Thompson Avenue, Mountain View, CA 94043

Listing Price: $2,525,000

Cap Rate
3.06%
Number of Units
4
GRM
20.35
Occupancy
97.0%
Price/Unit
$631,250
Price/Gross SF
$871.89
Gross SF
2,896

Investment Overview

505 Thompson Avenue is a wonderful four-unit apartment building located in the highly desirable and thriving city of Mountain View, California. Built in 1963, the fourplex building totals 2,896 square feet and is situated on a large 9,373 square foot lot. The subject property has a superior unit mix consisting of four large two-bedroom/one-bathroom units. It is located off of a quiet suburban street comprised of mainly single-family homes. These single-story cottages have two large sliding glass doors to access the spacious, private backyards that are shaded by citrus trees, and give the entire property a tranquil garden feel.

Current ownership of over 20 years has consistently improved and maintained the property. All four units have been renovated with laminate flooring, interior paint, updated kitchen appliances including, cabinets, and backsplashes, and the bathrooms have been remodeled. Exterior capital improvements include dual pane windows and sliding glass doors in all four units, roof and gutter replacement, and exterior paint. 505 Thompson Avenue offers the investor the opportunity to add further value by adding in-unit washer/dryers and continuing the repositioning of the property to the high specification preferences of Silicon Valley technology employees.

505 Thompson Avenue is strategically located in the heart of Mountain View one block from the Safeway Shopping Center at West Middlefield Avenue and North Rengstorff Avenue, 0.8 miles from the San Antonio CalTrain Station, one mile from Highway 101, and 1.2 miles to El Camino Real. It is located off a quiet suburban street comprised of mainly single-family homes. The property feeds into Monta Loma Elementary, Crittenden Middle, and highly prestigious and top rated Los Altos High.

Many of the largest technology companies have operations in and around Mountain View including Google, Apple, Facebook, and Microsoft. 505 Thompson Avenue is located approximately 1.3 miles from Googles headquarters. The prestigious location and apartment income upside make 505 Thompson Avenue a great opportunity for both the cash flow and appreciation-minded investor.

Investment Highlights

  • Four Single-Story Cottage-Style Two Bedroom Units with Private Backyards
  • Significant Capital Improvements - Roofs, Dual Pane Windows and Remodeled Units
  • Rent Upside and Repositioning Opportunity
  • Feeds to Prestigious Los Altos High School, and 1.3 Miles from Google's Headquarters

Exclusively Listed By

Financing By

Listing Price: $2,525,000

Cap Rate
3.06%
Number of Units
4
GRM
20.35
Occupancy
97.0%
Price/Unit
$631,250
Price/Gross SF
$871.89
Gross SF
2,896

Investment Highlights

  • Four Single-Story Cottage-Style Two Bedroom Units with Private Backyards
  • Significant Capital Improvements - Roofs, Dual Pane Windows and Remodeled Units
  • Rent Upside and Repositioning Opportunity
  • Feeds to Prestigious Los Altos High School, and 1.3 Miles from Google's Headquarters

Investment Overview

505 Thompson Avenue is a wonderful four-unit apartment building located in the highly desirable and thriving city of Mountain View, California. Built in 1963, the fourplex building totals 2,896 square feet and is situated on a large 9,373 square foot lot. The subject property has a superior unit mix consisting of four large two-bedroom/one-bathroom units. It is located off of a quiet suburban street comprised of mainly single-family homes. These single-story cottages have two large sliding glass doors to access the spacious, private backyards that are shaded by citrus trees, and give the entire property a tranquil garden feel.

Current ownership of over 20 years has consistently improved and maintained the property. All four units have been renovated with laminate flooring, interior paint, updated kitchen appliances including, cabinets, and backsplashes, and the bathrooms have been remodeled. Exterior capital improvements include dual pane windows and sliding glass doors in all four units, roof and gutter replacement, and exterior paint. 505 Thompson Avenue offers the investor the opportunity to add further value by adding in-unit washer/dryers and continuing the repositioning of the property to the high specification preferences of Silicon Valley technology employees.

505 Thompson Avenue is strategically located in the heart of Mountain View one block from the Safeway Shopping Center at West Middlefield Avenue and North Rengstorff Avenue, 0.8 miles from the San Antonio CalTrain Station, one mile from Highway 101, and 1.2 miles to El Camino Real. It is located off a quiet suburban street comprised of mainly single-family homes. The property feeds into Monta Loma Elementary, Crittenden Middle, and highly prestigious and top rated Los Altos High.

Many of the largest technology companies have operations in and around Mountain View including Google, Apple, Facebook, and Microsoft. 505 Thompson Avenue is located approximately 1.3 miles from Googles headquarters. The prestigious location and apartment income upside make 505 Thompson Avenue a great opportunity for both the cash flow and appreciation-minded investor.

Exclusively Listed By

Financing By

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