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Open Wed 11:30AM-1PM
1273 Cortez Drive Sunnyvale, CA 94086
8 Beds
4,247 SqFt
Open House
Wed Oct 21, 11:30am - 1:00pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,247 sqft
Price per Sqft $482
MLS Listing ID ML82064680
Bedrooms 8
HOA Y/N No
Year Built 1963
Lot Size 7,950 Sqft
Acres 0.18
Property Sub-Type Quadruplex
Property Description
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 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
Location
State CA
County Santa Clara
Zoning R3
Interior
Heating Forced Air, Wall Furnace
Fireplace No
Building
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Fremont Union
Others
Tax ID 16117009
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Listed by Adam Foley • CBRE, Inc.