This Mountain View fourplex is located on a street in an area of Mountain View which is undergoing dramatic gentrification. The reason for the higher valuation of these properties is due to their close proximity to major high-tech employers such as Google, Facebook, Apple, Linked-In and Netflix, to name just a few. It is also located less than one mile from Mountain View’s vibrant Downtown. Therefore, units that have been renovated can attract high-tech workers at dramatically higher rents. The property has two, 2 bed / 1 bath units and two, 1 bed / 1 bath units. All units have older finishes (kitchens, bathrooms, flooring) and are rented at below market rates for the area. With renovation, these units could be rented for significantly higher rents (up to $1,000) subject to Mountain View Rent Control. (This building is subject to Mountain View Rent Control and Tenant Protection Ordinances.) The units range in size from approximately 550 SF for the one bedrooms to approximately 750 SF for the two bedroom units. Each unit has one covered carport and one storage locker. The front two bedroom unit has a large, private yard. The building is a single-story structure on a large 10,000+ SF lot, with additional parking for residents. While some capital improvements have been made such as double-pane windows, a water heater, a new main line clean-out, and exterior painting, there is significant work that needs to be completed to turn this diamond-in-the-rough into a true gem. This work includes but may not be limited to unit renovation, roofing and plumbing. A pest inspection, property inspection report and foundation report are available for review. The property is being offered on an “As-Is” basis. The building also contains and on-site laundry room which generates $200/month in additional income. All appliances are included in the sale of the building.
