Multifamily Property for Sale in Mountain View, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Mountain View, CA 94043

Description

Alamo Park Apartments is a stunning 33-unit multifamily investment opportunity located in the thriving city of Mountain View, California. Situated on a large parcel of land totaling .96 acres, the subject property was originally constructed in 1974 and features a gross building area of approximately 20,505 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom oor plans. Additionally, eight brand new ADUs have recently been constructed offering six two- bedroom and two one-bedroom oor plans. These new units feature incredible modern amenities such as in-unit washers/dryers, heating and AC, dishwashers, recessed lighting and solar panels on the newly constructed duplex roof. In addition to the stunning Googleplex, (Google Headquarters) located only 3.1 miles away, the subject property is also located within close proximity to Downtown Mountain View (1.0mi) and San Antonio Shopping Center (3.0mi). Downtown Mountain View and Castro Street play a unique role within the community and offer more than 20 retailers and 70 restaurants. The downtown area boasts the City Civic Center and Center of Performing Arts landmark, providing a myriad of high-end dining, shopping and entertainment options. The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, Alamo Park Apartments presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options. Investment Highlights: • High Cash Flowing Mountain View Opportunity • Newly Constructed ADUs • Incredible Modern Unit Amenities • Desirable Unit Mix • Close Proximity to Many of the Nation's Top Tech Employers

Market Context

This multifamily in Mountain View, CA is listed for sale. It is offered at an approximate 5.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 39 days. Compare it against other multifamily listings for sale in Mountain View, CA — <a href="/search/sale/multifamily/california/mountain-view">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).

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