Offering memorandum available. Pride of ownership 12-unit apartment complex with two six-unit buildings (366 & 372 Camille Ct) situated on one parcel with all updated one-bed/one-bath units with vaulted ceilings. Prestigiously located in the Cuesta Park neighborhood south of El Camino Real where homes are $1500+/SqFt. Walking distance to Downtown MV & Caltrain. Current monthly rent is $23,778. CAP Rate: 3.87% Current, 5.28% Proforma. GRM: 17.56 Current, 14.46 Proforma. 100% occupancy & collections. Current ownership of 13 years has consistently improved the property. All units have hardwood & slate floors, upgraded bathrooms & kitchens, & dual pane windows. New 50 year PVC roof in 2017, new carport in 2018, and pavement in 2019. Opportunity to add further value by adding in-unit laundry & private patios, renting out the large storage unit for additional income, and continuing the repositioning of the property to the high specification preferences of Silicon Valley technology employees.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
