1273 Cortez DR, Sunnyvale, CA 94086
- $2,050,000
- 4,247
- SqFt
Listing courtesy of Adam Foley from CBRE, Inc.. 408-409-3431
- List Price
- $2,050,000
- MLS#
- ML82064680
- Status
- ACTIVE
- Zoning
- R3
- Sqft. of Residence
- 4,247
- Lot Size
- 7,950
- Listing Area
- Sunnyvale
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 | CONTACT LISTING AGENT
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Additional Information
- Acres
- 0.18
- Age
- 63
- Cooling System
- Window / Wall Unit
- Foundation
- Crawl Space
- Garage Parking
- Covered Parking
- Heating System
- Forced Air, Wall Furnace
- Laundry Facilities
- Washer / Dryer
- Living Area
- 4,247
- Lot Size
- 7,950
- Neighborhood
- Sunnyvale
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Shingle
- Sewer
- Sewer - Public
- Special Features
- None
- Total Number Of Units
- 4
- Unincorporated Yn
- Yes
- Zoning
- R3
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