Multifamily Property for Sale in Santa Clara, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Santa Clara, CA 95050

Description

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

Market Context

This multifamily in Santa Clara, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Santa Clara, CA — <a href="/search/sale/multifamily/california/santa-clara">view the full market</a>.

As of Q3 2021, the Silicon Valley multifamily market showed a 4.4% vacancy rate, and average asking rents near $1591.00/unit/mo. Source: Www.lee-Associates.com Q3 2021 market report.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the Silicon Valley multifamily market tightening or softening?
Vacancy is around 4.4% (Q3 2021).

Contact

Explore this market

Similar Multifamily Property for Sale in Santa Clara, CA