NOT LISTED FOR SALE

511 University Ave Los Gatos, CA 95032

West Los Gatos Neighborhood
4 Beds
7 Baths
2,145 Sq Ft
7,205 Sq Ft Lot

Last Sold May 17, 2024

Last sale price $2,000,000 $932 Per Sq Ft

5 Days on Market

Highlights

  • 1 Car Detached Garage
  • Laundry Room
  • Floor Furnace
  • Daves Avenue Elementary School Rated A
  • Ceiling Fan
  • 1-Story Property

About This Home

As of May 2024

Rare opportunity to own an investment property in Downtown Los Gatos. Nicely renovated 3-unit property; freshly painted inside & out. All new LVP Flooring in all units. All new lighting, switches & outlets, very nice! Low maintenance yards: Spacious patios for Unit A and the back Cottage, common area patio behind the main building. Each unit has separate laundry area (A has W/D included). Full basement under main house, partially finished. Detached 1 car garage + on site & street parking. Main building; Unit A has 2 Bedrooms, 1 Bath w/nice living room, spacious kitchen, laundry room + private backyard. Unit B has 1 bedroom, 1 bath, living room and laundry. Detached cottage in rear is 1 bedroom, 1 bath + small living room, private backyard and detached laundry room w/storage. Coveted location, close to restaurants, parks, shopping & more.

Last Agent to Sell the Property

Rick Smith

KW Bay Area Estates License #00907087 Listed on: 04/18/2024

KW Bay Area Estates

Last Buyer's Agent

Sheva Neinavaie

Intero Real Estate Services License #01180189

Intero Real Estate Services

Property Details

Home Type

  • Multi-Family

Year Built

  • 1920

Lot Details

  • 7,205 Sq Ft Lot

Parking

  • 1 Car Detached Garage
  • On-Street Parking

Home Design

  • Triplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,145 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Laminate Flooring
  • Laundry Room

Utilities

  • Floor Furnace
  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $90,000

Community Details

Overview

  • 2,145 Sq Ft Building

Building Details

  • Gardener Expense $3,600
  • Insurance Expense $2,500
  • Maintenance Expense $1,200
  • Utility Expense $1,450
  • Trash Expense $775
  • Operating Expense $14,496
  • Gross Income $90,000

Property Details

Home Type

Multi-Family

Year Built

1920

Lot Details

0

Parking

1

Listing Details

  • Zoning: R-1D
  • Subclass: Triplex
  • Age: 104
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2145
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1920

Interior Features

  • Living Sq Ft: 2145
  • Stories: 1
  • Flooring: Laminate
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 3
  • Garage Parking Features: Detached Garage, On Street, Parking Area

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Floor Furnace, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Los Gatos-Saratoga Joint Union High
  • Elementary School: Daves Avenue Elementary
  • Middle School: Raymond J. Fisher Middle
  • High School: Los Gatos High
  • High School: 262
  • Elementary School: 140
  • Middle School: 141

Lot Info

  • Lot Acres: 0.1654
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7203.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7203.00

Rental Info

  • Existing Lease Term(s): Building Vacant
  • Gross Rent Multiplier: 21.11

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 2500
  • Expense Landscape: 3600
  • Expense Maintenance: 1200
  • Expenses Total: 14496
  • Expenses Utility: 1450
  • Expense Trash: 775
  • Income Annual Gross: 90000.00
  • Income Annual Rental: 90000
  • Income Gross Scheduled: 90000
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 2
  • Operating Expenses Include: Maintenance, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/17/2024 05/17/24 Sold $2,000,000 +5.3% $932 / Sq Ft
04/24/2024 04/24/24 Pending -- -- --
04/18/2024 04/18/24 For Sale $1,899,950 -- $886 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Rick Smith

    Seller's Agent in 2024

    Rick Smith

    KW Bay Area Estates

    (408) 482-0539

    1 in this area

    72 Total Sales

    Section Image
  • Sheva Neinavaie

    Buyer's Agent in 2024

    Sheva Neinavaie

    Intero Real Estate Services

    (408) 509-2302

    1 in this area

    29 Total Sales

    Section Image
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Map

Source: MLSListings

MLS Number: ML81961957

MLSListings

APN: 529-07-027

California Santa Clara County Los Gatos 95030 West Los Gatos

511 University Ave, Los Gatos, CA

This home is located at 511 University Ave, Los Gatos, CA 95032 since 18 April 2024. This property was built in 1920. 511 University Ave is a home located in Santa Clara County with nearby schools including Daves Avenue Elementary School, Loma Prieta Elementary School, and Raymond J. Fisher Middle School.

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