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25418044
25418045

2483-2491 Whitney Drive, Mountain View, CA 94043

Coldwell Banker Commercial NRT San Francisco
Listed by Coldwell Banker Commercial NRT San Francisco
$15,750,000
314 days on market
Updated 70 days ago

40 Unit Apt Complex | Pool, Parking, Development Potential

Details
APN 147-09-033, -032, -030, -029
Property Type Land, Multifamily
Sub Type Apartment Building, Commercial (+1)
Square Footage 24,586
Units 40
Cap Rate 4.10%
NOI $732,608
Year Built 1959-1960
Buildings 4
Lot Size (SqFt) 1.446
Zoning R3-1

2483-2491 Whitney Dr. | Mountain View, CA

Marketing description

The Mayfield Apartments located at 2483-2491 Whitney Dr. in Mountain View, CA is a superb opportunity for the savvy multifamily investor. The approximately 1.446 acre property is comprised of 4 parcels boasting 2 one story buildings and 2 two story buildings built in 1959/60. The buildings contain 40 apartments with a unit mix of 6 two bedroom units, 28 one bedroom units, and 6 studio units. Many of the units have private back patios or little front gardens, lovely vaulted wood ceilings, and luxury vinyl plank flooring. The units have been updated to varying extents, but most have upgraded bathrooms and kitchens. The units are separately metered and equipped with electric stoves, gas wall heaters, and individual fuse boxes. The property boasts a communal pool, 51 parking spaces, including 40 carport spaces and 11 uncovered spaces, ample storage, and 3 laundry rooms with Seller owned app operated machines (4 washers/4 dryers). Located directly adjacent to over 500,000 square feet of Google office and R&D space, the property benefits from proximity to major employers and strong rental demand. Overall, the property presents a rare opportunity to acquire a residential investment asset in a severely supply constrained market with incredible development potential.

Investment highlights

• Superb Mountain View Location!

• 40 Apartment Units Total

• 4 Buildings on 4 Separate Parcels

• 6 Two Bedroom Apartments

• 28 One Bedroom Apartments

• 6 Studio Apartments

• 51 Total Parking Spaces

• 40 Carport Parking Spaces

• 11 Surface Parking Space

• Communal Pool & Landscaped Courtyard

• 3 Laundry Rooms with App Operated Seller Owned Machines (4 Washers/4 Dryers)

• Core Silicon Valley Location with Excellent Access to Major Employers

• Excellent Residential Market with Strong Demand and Insufficient Housing Supply

• Directly adjacent to Google Site (X Development, LLC)

• Outstanding School District

• Neighborhood Average Household Income is $324,295!

• Lot Size: Approx. Approx. 62,982 SF (Per 9.27.13 Survey)

• Building Size: Approx. 24,586 SF (Per 7.1.20 'As Built" Drawings)

• Great Location with Development Potential!

Listing Contacts

Coldwell Banker Commercial NRT San Francisco
Listed by Coldwell Banker Commercial NRT San Francisco

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$732,608.00
$61,050.67/mo

Valuation Metrics

0
DSCR
4.65%
Cap Rate
4.65%
ROI

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