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Listed by Marcus & Millichap
$ 6,880,000
Est. payment | /mo
17,478 SqFt
$ 6,880,000
Est. payment | /mo
17,478 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 17,478 sqft
Price per Sqft $393
MLS Listing ID ML82044230
HOA Y/N No
Year Built 1961
Lot Size 0.486 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
The property has a total of 17,478 square feet of living space and is situated on approximately half an acre of land. The property has undergone extensive interior renovations complete with modern, high-end finishes including new cabinets, granite countertops, wood laminate flooring and stainless steel appliances. Each unit also benefits from its own private patio or balcony. The Carlmont Hills Apartments are centrally located in the heart of the Silicon Valley. Many of the nations top Tech employers are located within close proximity including Oracle, Sun Microsystems, Visa, Sony, Electronic Arts (EA), Franklin Templeton Investments as well as many others. The subject property also benefits from its close proximity to Ralston Avenue, which feeds directly into highways 92, 280 and 101 providing easy access to all major Bay Area locations. The investment appeal of this asset is driven by the areas strong employment fundamentals; low vacancy levels and consistent rental growth. Carlmont Hills Apartments is well positioned for significant NOI growth given its location and perpetual housing constraints in the market as well as the continued economic upturn in the Silicon Valley.
Location
State CA
County San Mateo
Interior
Heating Forced Air
Cooling None
Fireplace No
Building
Water Public
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