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470 Del Medio Ave 10 Unit Apartment Building $4,650,000 ($465,000/Unit) 3.77% Cap Rate Mountain View, CA 94040
INVESTMENT HIGHLIGHTS
- IDEALLY LOCATED WITHIN WALKING DISTANCE OF SAN ANTONIO SHOPS, DINING, AND CALTRAIN
- MOST UNITS ARE UPGRADED WITH NEW KITCHENS, BATHROOMS, DOUBLE-PANE WINDOWS, AND FLOORING
- BORDERING PALO ALTO Within 3 Miles from Stanford University
- OVER $300,000 IN RECENT ELECTRICAL CAPITAL IMPROVEMENTS (New main panel + Sub-Panels)
- LOCATED NEAR TOP TECHNOLOGY EMPLOYERS AND BACKED BY PRO-DENSITY CITY INITIATIVES
- SAN FRANCISCO BUSINESS TIMES. (2025, DECEMBER). Mountain View has the highest one-bedroom asking rent in Silicon Valley, fueled by AI growth.
EXECUTIVE SUMMARY
Contact jcastellanos@marcusmillichap.com for OM.
Jimmy Castellanos is pleased to present 470 Del Medio Avenue, a well-maintained 10-unit multifamily community located in the heart of Mountain View. The property is situated within one of Silicon Valley’s most supply-constrained and consistently high-performing rental submarkets. Constructed in 1957, the property consists of ten one-bedroom, one-bathroom units totaling approximately 5,800 square feet of gross building area on a generous 9,750-square-foot corner parcel. The property offers designated tuck-under carport parking with ample space for tandem parking. It has also been newly landscaped with lush greenery, new pavers, and vibrant flowers. More recently, the property has benefited from over $300,000 in electrical capital improvements, including a new 400-amp main switchboard and 125-amp per-unit sub-panels, enhancing operational efficiency and long-term reliability.
Jimmy Castellanos is pleased to present 470 Del Medio Avenue, a well-maintained 10-unit multifamily community located in the heart of Mountain View. The property is situated within one of Silicon Valley’s most supply-constrained and consistently high-performing rental submarkets. Constructed in 1957, the property consists of ten one-bedroom, one-bathroom units totaling approximately 5,800 square feet of gross building area on a generous 9,750-square-foot corner parcel. The property offers designated tuck-under carport parking with ample space for tandem parking. It has also been newly landscaped with lush greenery, new pavers, and vibrant flowers. More recently, the property has benefited from over $300,000 in electrical capital improvements, including a new 400-amp main switchboard and 125-amp per-unit sub-panels, enhancing operational efficiency and long-term reliability.
PROPERTY FACTS
| Price | $4,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $465,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 3.77% | Building Size | 5,800 SF |
| Gross Rent Multiplier | 17.26 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 3.45/1,000 SF |
| Zoning | R3-1* | ||
| Price | $4,650,000 |
| Price Per Unit | $465,000 |
| Sale Type | Investment |
| Cap Rate | 3.77% |
| Gross Rent Multiplier | 17.26 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 5,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 3.45/1,000 SF |
| Zoning | R3-1* |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $2,245 | - |
1 1
Walk Score®
Very Walkable (83)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 148-09-001 | Improvements Assessment | $2,448,000 |
| Land Assessment | $1,836,000 | Total Assessment | $4,284,000 |
PROPERTY TAXES
Parcel Number
148-09-001
Land Assessment
$1,836,000
Improvements Assessment
$2,448,000
Total Assessment
$4,284,000
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470 Del Medio Ave
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