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… Read More 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 Read Less
Courtesy of CBRE, Inc., Adam Foley 408-409-3431
Listing Snapshot
Days Online
0
Last Updated
Property Type
Fourplex
Square Ft.
4,247
Lot Size
0.18 Acres
Year Built
1963
MLS Number
ML82064680
30 Days Snapshot Of 94086
$2.01M
+39%
(avg) sold price
20
+17%
homes sold
15
-55%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 7950.00, Max Area Units: Square Feet
Unit One
1 bedroom in unit 1, Unit 1: approximately 650 square feet, Unit 1 rent: $1,950
Unit Two
2 bedrooms in unit 2, Unit 2: approximately 850 square feet, Unit 2 rent: $2,700
Unit Three
2 bedrooms in unit 3, Unit 3: approximately 850 square feet
Unit Four
3 bedrooms in unit 4, Unit 4: approximately 1,450 square feet, Unit 4 rent: $3,900
Accessibility Features
None
Building
Built in 1963, 4 building units, 1 building, 4,247 structure square feet
Roof
Shingle
Utilities
Individual Electric Meters, Individual Gas Meters, Public Utilities
Sewer
Sewer - Public
Security Features
None
Heating
Forced Air, Wall Furnace
Cooling
Window / Wall Unit
Foundation
Crawl Space
Laundry
Washer / Dryer
Water Features
Public
Miscellaneous
Vacancy factor: 11
Tenant Pays
Utilities - Electric, Utilities - Gas
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