NOT LISTED FOR SALE

631 Fairmont Ave Mountain View, CA 94041

6 Beds
3 Baths
2,418 Sq Ft
5,136 Sq Ft Lot

Last Sold June 13, 2019

Last sale price $2,350,000 $972 Per Sq Ft

10 Days on Market

Highlights

  • Laundry Room
  • Storage Room
  • Coin Laundry
  • Edith Landels Elementary School Rated A-

About This Home

As of June 2019

Great Investment Opportunity, currently OVER 4% CAP rate, in Beautiful Downtown Mountain View! Triplex consists of three 2bd/1ba units. All Units FULLY Rented @ $3500 per month on one year leases. Gross income currently $128,000. Opportunity to increase income through rubs. Each unit has it's own carport, separately metered for gas/electricity. Unique opportunity to own a rental in this beautiful & walkable neighborhood. 1-minute walk from all the hot spots of Castro Street in Downtown Mountain View. Finishes include stainless steel appliances, Custom cabinetry, Quartz counter tops with tile back splash, beautifully updated bathrooms recessed lighting & wood floors. Private storage in each carport, coin op laundry room in the building. Neighborhood has endless choices for dining, shopping, entertainment. Hot foodie haunts include: Doppio Zero, Eureka! Chez TJ & Cascal. Spend your weekends at the Klein Park or Pioneer Memorial Park. Very close to Caltrain/Highways for an easy commute.

Last Agent to Sell the Property

Michael Quinnell

Realty World Dominion License #01745814 Listed on: 05/01/2019

Last Buyer's Agent

Eric Fischer-Colbrie

Intero Real Estate Services License #00922040

Intero Real Estate Services

Property Details

Home Type

  • Multi-Family

Year Built

  • 1955

Lot Details

  • 5,136 Sq Ft Lot

Home Design

  • Triplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,418 Sq Ft Home
  • 2-Story Property
  • Storage Room
  • Laundry Room
  • Laminate Flooring

Kitchen

  • Gas Oven
  • Microwave
  • Dishwasher

Parking

  • 3 Carport Spaces
  • On-Street Parking

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $126,000

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 3 Leased Units
  • Insurance Expense $1,800
  • Maintenance Expense $1,800
  • Utility Expense $2,988
  • Operating Expense $31,588
  • Gross Income $129,000

Property Details

Home Type

Multi-Family

Year Built

1955

Lot Details

0

Listing Details

  • Zoning: R3-2*
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2418
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1955

Interior Features

  • Kitchen: Appliances - Vary By Unit, Dishwasher, Microwave, Oven - Gas, Oven Range, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 2418
  • Stories: 2
  • Laundry: Coin Operated
  • Flooring: Laminate
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Garage Parking Features: Carport, Covered Parking, On Street
  • Carport Min: 3

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.1179
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5136.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5136.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease
  • Gross Rent Multiplier: 18.20
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 1800
  • Expense Maintenance: 1800
  • Expenses Total: 31588
  • Expenses Utility: 2988
  • Income Annual Gross: 129000.00
  • Income Annual Rental: 126000
  • Income Gross Scheduled: 129000
  • Income Includes: Laundry
  • Income Other: 3000
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Utilities - Water
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
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 List to Sale Price per Sq Ft
06/13/2019 06/13/19 Sold $2,350,000 +0.1% $972 / Sq Ft
05/12/2019 05/12/19 Pending -- -- --
05/01/2019 05/01/19 For Sale $2,348,000 -- $971 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2019

    Michael Quinnell

    Realty World Dominion

    (408) 980-5200

    6 Total Sales

    Michael Quinnell
    Section Image
  • Eric Fischer-Colbrie

    Buyer's Agent in 2019

    Eric Fischer-Colbrie

    Intero Real Estate Services

    (650) 533-7511

    3 in this area

    128 Total Sales

    Eric Fischer-Colbrie
    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81749714

MLSListings

APN: 158-06-014

California Santa Clara County Mountain View 94041

631 Fairmont Ave, Mountain View, CA

Not Listed for Sale

MultiFamily

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