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Jonathan Shaffer

jonathan@shafferrealestategroup.com +1(408) 608-4659

Listed by Adam Foley • CBRE, Inc., DRE#02144332

$ 2,050,000

Est. payment -/mo

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Open Wed 11:30AM-1PM

1273 Cortez DR Sunnyvale, CA 94086

8 Beds

6 Baths

4,247 SqFt

Open House

Wed Oct 21, 11:30am - 1:00pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,247 sqft

Price per Sqft $482

MLS Listing ID ML82064680

Bedrooms 8

Full Baths 6

Year Built 1963

Lot Size 7,950 Sqft

Property Sub-Type Fourplex

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

Location

State CA

County Santa Clara

Area Sunnyvale

Zoning R3

Interior

Heating Forced Air, Wall Furnace

Cooling Window / Wall Unit

Laundry Washer / Dryer

Exterior

Parking Features Covered Parking

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

Roof Type Shingle

Building

Story 2

Foundation Crawl Space

Sewer Sewer - Public

Water Public

Level or Stories 2

Others

Tax ID 161-17-009

Security Features None

Horse Property No

Special Listing Condition Not Applicable

Nearby Locations

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Phone

+1(408) 608-4659

jonathan@shafferrealestategroup.com