Offering memorandum available. The Thompson Cottages (481, 487, 493, 499, 505 & 511 Thompson Ave) is a wonderful 24-unit apartment portfolio, consisting of six fourplexes on six contiguous parcels with a total lot size of 71,114 SqFt (1.63 acres). (23) 2-bed/1-bath units and (1) 2-bed/2-bath unit. Single-story cottage style units with large private backyards located off of a quiet street surrounded by mainly single family homes. Current rent of $69,169/month. 23 fully renovated units, and current ownership of 20+ years has consistently improved the property. Value-add potential by repositioning the property to the preferences of tech employees. Each parcel can be sold individually providing a flexible exit strategy. Further, this asset is well positioned for potential redevelopment due to its large lot size and location. Located 1.3 miles from Google's headquarters. Feeds into top ranked Los Altos High School. Great opportunity for both the cash flow and appreciation minded investor.
|LAST UPDATED||1/13/2021||YEAR BUILT||1963|
|STATUS||Active||PROPERTY TYPE(S)||Multi Family|
|School District||Mountain View-Los Altos Union High|
|Elementary School||Monta Loma Elementary|
|Jr. High School||Crittenden Middle|
|High School||Los Altos High|
|BASEMENT||Foundation: Concrete Perimeter|
|EXTERIOR||Back Yard, Balcony / Patio, Fenced|
|GARAGE||Assigned Spaces, Carport , Covered Parking, Off-Street Parking, Parking Area, Uncovered Parking|
|HEAT||Gas, Wall Furnace|
|LOT DESCRIPTION||Grade - Level|
|SEWER||Sewer: Sewer - Public|
TOTAL MONTHLY PAYMENT
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