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Berkshire Hathaway HomeServices California Properties
1273 Cortez Drive, Sunnyvale, CA 94086
- $2,050,000
- 4,247
- SqFt
- List Price
- $2,050,000
- Status
- ACTIVE
- MLS#
- ML82064680
- Year Built
- 1963
- Living Sq. Ft
- 4,247
- Lot Size
- 7,950
- Acres
- 0.18
- Days on Market
- 1
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
1273 Cortez Drive (the Property) is a multifamily asset built in 1963 and comprised of four (4) units in a single two-story building. The Property features a unit mix of one (1) one-bedroom/one-bathroom floorplan, two (2) two-bedroom/one-bathroom townhome floorplans, and one (1) three-bedroom/three-bathroom townhome floorplan. The oversized, townhome-style layouts are a rarity among small-scale rental stock and appeal to renters seeking space and privacy. The Property is partially renovated and in-place rents are strong, averaging $2,813 per unit per month, in line with current market rents. The one vacant unit, a two-bedroom/one-bathroom townhome, offers investors an immediate value-add opportunity. A new owner can renovate the unit on day one and bring it to market rent immediately. The upside is available on the first day of ownership without waiting on a lease expiration or tenant turnover. The Propertys Sunnyvale location in the Sunnyvale West submarket generates premium rents and strong demand from renters backed by high-tech salaries. This Property offers investors the rare opportunity to acquire a partially renovated, well-leased asset in one of the most sought-after rental markets in Silicon Valley. OPEN HOUSE WEDNESDAY OCTOBER 21 11:30-1:00PM | CONTACT LISTING AGENT
Additional Information
- Taxes
- $23,160
- Heat
- Forced Air, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Roof
- Shingle
- Sewer
- Public Sewer
- Water
- Public
- School District
- Other
- Attached Structure
- Detached
- Gross Scheduled Income
- $152,400
Listing courtesy of Listing Agent: Adam Foley (adam.foley@cbre.com) from Listing Office: CBRE, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.