Offering memorandum available. The North Thompson Cottages (499, 505, and 511 Thompson Avenue) is a wonderful 12-unit apartment portfolio, consisting of three fourplexes on contiguous parcels with a total lot size of 33,997 SqFt. (0.78 acres). Twelve 2-bed/1-bath units totaling 8,656 SqFt. Single-story cottage style units with large private backyards located off of a quiet street comprised of mainly single family homes. Current rent of $33,741/month. Fully renovated units, and current ownership of over 20 years has consistently improved the property. Value-add potential by continuing the repositioning of the property to the preferences of tech employees. Each parcel can be sold individually providing a flexible exit strategy. Further, this asset is well positioned for potential redevelopment due to its size and location. Located 1.3 miles from Google's headquarters. Feeds into top ranked Los Altos High School. Great opportunity for both the cash flow and appreciation minded investor.
Courtesy of Marcus & Millichap, Ismael Benhamida.
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