537 Mariposa Avenue
Mountain View, CA 94041
Sq. Feet 12,935
483 Mariposa Avenue is a two-story apartment building totaling approximately 6,642 square feet of living space situated on a 13,325 square foot lot in beautful Mountain View, California.
The unit mix consists of one three-bedroom/two bathroom house in the front, and seven two-bedroom/one bathroom apartment units in the rear. The building lies on a clean concrete perimeter and is constructed of wood framing with stucco exterior. For the tenant's convenience there are eleven off-street parking spaces, eight of which are covered. Each of the top-story units have walkout patios, that look-out on the mature landscaping, which give it's tenants a quiet secluded feel. This incredibly well-maintained property will give the new owner an excellent turnkey investment opportunity with excellent upside rent potential.
The property is located in close proximity to Google Campus, and all other major employment hubs via Highway 101 & 280. Additionally, Mountain View's low housing affordability coupled with increasing jobs, should yield higher rent growth, and decreasing vacancy to under an estimated 3%.
Cap Rate: 3.56% NOI: $73,991 Livable Sq. Ft: 6,642
Built in 1960 8 units Lot Sq. Ft: 13,325