179 HIGDON AVENUE · 179 HIGDON aee MOUNTa e, Caa DETAILS Address 179 Higdon Ave Mountain View, CA...

Disclaimer: The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

179 HIGDON AVENUE MOUNTAIN VIEW, CALIFORNIA

17-1653/18-03

Presented By:Ryan LaRocca [email protected] BRE#01967232

• Excellent unit mix comprised of(1) 2 bedroom 1.5 bath townhouse styleapartment, and (3) 2 bedroom 1 bathunits

• Over $255,000 in recent capitalimprovements completed with permits

• Improvements and remodeling includenew copper plumbing, modern blackdual pane windows, roof, exterior paint,landscaping, fencing, driveway,property fumigation and section 1 workcompleted

• All 4 units fully remodeled with newmodern bathrooms, kitchens, highend quartz counter tops, stainlesssteel appliance package, LVT flooring,lighting, and more

• Complete turnkey asset with strong inplace rents near market rates

• The property is conveniently locatedclose to downtown Mountain View andmajor employers including Google,LinkedIn, Microsoft, and more

• Easy access to Cal Train, Shoreline Blvd,El Camino Real, 237, 85 and 101 freewaysare minutes away

● I N T R O D U C T I O N ●


17-1653/18-03

Ryan LaRocca [email protected] BRE#01967232


● O F F E R I N G S U M M A R Y ●

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PROPERTY DETAILSAddress

Price

Down Payment

Units

Price/Unit

Rentable Square Feet

Price/Sq Ft

Year Built

Land Area (Acres)

Current Cap Rate

Market Cap Rate

Current GRM

Market GRM

179 Higdon Ave

Mountain View, CA 94041

$2,788,888

$1,663,888

4

$697,222

3,217

866.92

1962

6,000

3.62%

4.40%

20.12

17.41

OPERATIONS SUMMARY CURRENT MARKETScheduled Gross Rent $138,600 $160,200

Vacancy 0.00% ($0) ($0)

Effective Gross Rent $138,600 $160,200

Other income $1,443 $1,443

Total Income $140,043 $161,643

Operating Expenses $9,198 $9,100

Non-Operating Expenses $30,000 $30,000

Total Expenses $39,198.31 $39,900

Net Operating Income $100,845 $122,543

Debt Service $63,675 $63,675

Net Cash Flow 1.3% $37,170 2.1% $58,868

Principal Reduction $20,158 $20,158

Total Return 2.1% $57,328 2.8% $79,026

RENT ROLL SUMMARYUnit # Type Sq Ft Current Rent $/Sq Ft Market Rent $/Sq Ft

1 2 x 1.5 Townhouse 870 $2,700 $3.10 $3,600 $4.13

2 2 x 1 750 $2,675 $3.57 $3,500 $4.66

3 2 x 1 750 $2,675 $3.57 $3,500 $4.66

4* 2 x 1 850 $3,500 $4.12 $3,500 $4.11

Total 3,217 $11,550 $3.59 $14,100 $4.38

FINANCINGLoan Amount $1,125,000.0

Interest Rate 3.90%

Amortization 30

Debt Service $63,675

Details 5-year fixed

*This unit will be vacant and is proforma.



OPERATIONS SUMMARY CURRENT MARKET

$138,600 $160,200

0.00% ($0) ($0)

$138,600 $160,200

Scheduled Gross Rent

Vacancy *

Effective Gross Rent

Other income $1,443 $1,443

$140,043 $161,643

$500 $500

$6,691 $6,961

Total Income

Maintenace ($500 / year)

* Utilities

Landscaping $0 $0

$9,198 $9,100

$30,000 $30,000

Operating Expenses

Real Estate Taxes (1.1%) *

Special Assessments Insurance * $1,287 $1,287

$31,287 $31,287

$40,485 $40,289

29.21% 25.15%

$10,121 $10,072

Non-Operating Expenses

Total Expenses

% Scheduled Gross Rent

Expenses/Unit

Expenses/Sq Ft $11.50 $11.45

Net Operating Income $90,645 $99,695


* These are estimates, industry standards, or quoted figures that the new buyer might pay. The seller and his agents make no representation as to the accuracy of these numbers and buyer should conduct his own investigation into what his own expenses will be with the manner in which he intends to operate the building.

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DETAILSAddress 179 Higdon Ave

Mountain View, CA 94041

County Santa Clara

APN 154-02-007

County Use Multi-Family

Submarket Shoreline

ATTRIBUTESUnits 4

Gross Building Square Feet 3,217

Average Unit Size (SqFt) 804

Land Area (SqFt) 6,000

Year Built 1962

Parking 4 Tuck Under + 3 Open

CONSTRUCTIONFoundation Concrete Perimeter

Exterior Walls Wood Siding + Stucco

Roof New Pitched Compositoin

Patio/Balcony No

Laundry Facilities Coin-Operated

Pool/Spa No


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● PROPERTY HIGHLIGHTS ●179 HIGDON AVENUE MOUNTAIN VIEW, CALIFORNIA

• Excellent unit mix comprised of (1) 2 bedroom1.5 bath townhouse style apartment, and (3) 2bedroom 1 bath units

• Over $255,000 in recent capital improvementscompleted with permits.

• Improvements and remodeling include newcopper plumbing, modern black dual panewindows, roof, exterior paint, landscaping,fencing, driveway, and property fumigation andsection 1 work completed

• All 4 units fully remodeled with new modernbathrooms, kitchens, high end quartz countertops, stainless steel appliance package, LVTflooring, lighting, and more

• Complete turnkey asset with strong in place rentsnear market rates

• The property is conveniently located close todowntown Mountain View and major employersincluding Google, LinkedIn, Microsoft, and more

• It is directly behind a new development which willinclude a 226-unit apartment complex, and whichwill drive rents up in the immediate area

• Easy access to Cal Train, Shoreline Blvd, El CaminoReal, 237, 85 and 101 freeways are minutes away

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● E X T E R I O R P H O T O S ●

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● U N I T 2 - I N T E R I O R P H O T O S ●

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● P A R C E L M A P ●


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● A E R I A L V I E W ●

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● T R A N S P O R T A T I O N M A P ●

CALTRAIN STATION CALIFORNIA AVENUE

CALTRAIN STATION PALO ALTO

MOUNTAIN VIEWCALTRAIN STATION

SAN ANTONIO

CALTRAIN STATION MOUNTAIN VIEW

CALTRAIN STATION SUNNYVALE CALTRAIN STATION

LAWRENCE

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● A M E N I T I E S M A P ●

MOUNTAIN VIEW

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• 24 Hour Fitness• 24 Hour Fitness Super Sport

• Big Frog • Cal Color Academy• Carter’s • Chase Bank• Focus Optical • Food & Grocery• Gamestop

• GNC• Greatful Head• Hunan Home’s Express• Jo-Ann Fabrics• Kohl’s• Krung Thai Restaurant• Luu Noodle House• Mathnasium Of • Mountain View-Los

Altos

• Payless Shoe Source• Pearl Café• Radio Shack• Sally Beauty Supply• San Antonio Dental• Sushi 88• Tea Nails & Spa• T-Mobile• UPS• Walmart

THE VILLAGE AT SAN ANTONIO CENTER

• Charleston Cleaners & Alteratons

• Green Elephant Gourmet

• Mountain Mike’s Pizza• Peet’s Coffee• Pet Food Express• Piazza’s Deli

• Piazza’s Fine Foods• Rick’s Ice Cream• Rojoz Gourmet Wraps• State Farm Insurance

CHARLESTON CENTER SHOPPING CENTER


• Abercrombie & Fitch

• Aldo Shoes • American Girl • Ann Taylor • Apple Store • Auntie Anne’s

Pretzels • Aveda Lifestyle

Store • A|X Armani

Exchange • Banana

Republic • Bang & Olufsen • Bank of America • Bare Escentuals • Bath & Body

Works • BCBGMAXAZRIA • Beautyland

Beauty Supply • Bloomingdales • Bose • Brighton

Collectibles • Brooks Brothers • Brookstone • Burberry • Cache• California Pizza

Kitchen • Calypso St. Barth • Chipotle

Mexican Grill

• Coach • Cocola Bakery • Coldwater

Creek • Crate & Barrel • Drybar • Edwards

Luggage • Eileen Fisher • Ermenegildo

Zegna • Express • Fashion Passion • Fleming’s Prime

Steakhouse & Wine Bar

• Free People • Frette• Gap • Gap Kids / Baby

Gap • Gleim the

Jeweler • Godiva

Chocolatier • Going in

Style Travel Accessories

• Gourmet Franks• Gymboree • Hair

International • Howard’s Shoes

For Children • Hugo Boss

• ILORI • J. Jill • J.Crew • Jamba Juice • Janie and Jack • Johnny Was • Juicy Couture • kate spade New

York • Kiehl’s Since

1851 • L’Occitane • La Baguette • LaBelle Day

Spas & Salons • Lacoste • Lavande Nail

Spa • Louis Vuitton • Lucky Brand • Lucy • Macy’s • Marimekko • Max’s Opera

Cafe • MaxMara • McDonald’s • Michael Kors • Microsoft • Naartjie • Kids • Neiman Marcus • Neiman Marcus

Cafe • Nike Running

• Nordstrom • Nordstrom Cafe

Bistro • P.F. Chang’s

China Bistro • Papyrus • Pinkberry • Pottery Barn • Pottery Barn Kids • Pressed Juicery • Prospectacles -

Optometrist • Ralph Lauren• Red Mango

Yogurt & Smoothies

• Schaub’s Meat, Fish, & Poultry

• See’s Candies • Sephora • Shreve & Co • Sigona’s Farmers

Market • Solstice Sunglass

Boutique • Sony • SoulCycle • Splendid

Sprinkles • Starbucks • Stuart Weitzman • Sunglass Hut • Swatch • Teavana• Teuscher

Chocolates of Switzerland

• The Art of Shaving

• The Body Shop • The Container

Store • The Melt• The Stanford

Shop • The Tailor Maid • Tiffany & Co.• Tommy Bahama • Tory Burch • Travelex

Currency Services

• Urban Outfitters • Victoria’s Secret • Vince • Wells Fargo Bank • White House |

Black Market • Wilkes Bashford • Williams-Sonoma

STANFORD SHOPPING CENTER

• Baily Plaza Liquors• Big Bites• California Mochi #2

Mini• Coin Wash• Coinstar

• Joanna’s Nails• Momoya Sushi• Money Gram• Mountain View Hair

& Nails• Redbox

• Regal Bagel Café• Round Table Pizza• Safeway• Squire Barber Shop• Starbucks• Wells Fargo ATM

BAILEY PARK PLAZA SHOPPING CENTER

• 99 Ranch Market• Bowl of Heaven• City Sports Club• Erik’s Deli Café• Heaney Violins• HSBC Bank• Lucky Chinese Bistro

• Marshalls & HomeGoods

• Massage Envy• New York Pizza• Nob Hill Foods• Oasis Laundry• Ocah Tea Café &

Restaurant• Peet’s Coffee & Tea• Sweet Tomatoes• T-Mobile• U.S. Bank• Wells Fargo Bank

GRANT PARK PLAZA SHOPPING CENTER

• C.J. Olson Cherries• Chipotle Mexican Grill• Color Me Mine• Dr. Holbert,

Optometrist

• Elements Therapeutic Massage

• GameStop• Nekter Juice Bar• P.F. Chang’s

• Sport Clips• Sprint• Starbucks Coffee• Sweetgreen• Trader Joe’s

CHERRY ORCHARD SHOPPING CENTER

• 18/8 Salon• Ambassador Toys• Asian Box• Athleta• Belcampo Meat Company• Biondivino• Books, Cards & Stationery• Books, Inc.

• Brandy Melville• Calafia Cafe & Market

a-Go-Go• Chase Bank• Cisco Home• Cotelac• Create It Ceramics• CVS / Pharmacy

• Diptyque• Douce France• ELLA• Fast Tony’s Chicken• Fillmore & 5th• For Eyes• Francesca’s Collections• GNC Live Well

• Gott’s Roadside• Howie’s Artisan Pizza• Hudson Grace• Intermix• J.McLaughlin• Jamba Juice• Jarbo• Joie

• Kara’s Cupcakes• Kirk’s Steakburgers• LaBelle Day Spa & Salon• Lisa DeNeffe Photography• Lulu’s at Town & Country• Marine Layer• Mayfield Bakery & Cafe• Mom’s the Word

• Paper Source• Patrick James• Peet’s Coffee & Tea• pokeLOVE• prAna• RUTI• Scandia Home• Snip-its

• Society• Space.NK• Sprout SF• Sur La Table• Sushi House• Sweaty Betty• Tennis Town & Country• The Bar Method

• The Coin Broker• The Performist• The UPS Store• The Walking Company• Tin Pot Creamery• Toss Designs, Inc.• Town & Country Cleaners• Town & Country Village

Offices Directory• Trader Joe’s• Village Cheese House• Wilby Optical / Dr.

Berkowitz• WILLIAM B + friends

TOWN & COUNTRY VILLAGE

• AMC Theaters• Coinstar• Expert Dealers• In & Out Burgers• Krispy Kreme

Doughnuts• Mexicali Grill• Pho Hoa Noodles• Redbox• Smoke Eaters

• Starbucks• Subway• TJ Maxx & HomeGoods• Walmart Market• World Wrapps

AMC MERCADO 20



● M A P O F C O M P A R A B L E S A L E S ●

726 MARIPOSA AVENUEMOUNTAIN VIEW, CALIFORNIA

Price $3,300,000

Units 4

$/Unit $825,000

Sq Ft 5,238

$/Sq Ft $854.83

Unit Mix (4) 3 x 2

Cap Rate (Current) 2.87%

Cap Rate (Market) 3.56%

GRM (Current) 22.62

GRM (Market) 19.64

COE 9/15/17

DOM 16

Comments: Larger property with good rents, but not as fixed up.

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224 BUSH STREETMOUNTAIN VIEW, CALIFORNIA

Price $2,808,000

Units 4

$/Unit $702,000

Sq Ft 3,282

$/Sq Ft $855.58

Unit Mix (3) 2 x 1, (1) 3 x 1



GRM (Current) 21.27

GRM (Market) 19.66

COE 4/5/17

DOM 7

Comments: Similar sized property with mostly lower rents and not updated like Higdon was.

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1590 LATHAM STREETMOUNTAIN VIEW, CALIFORNIA

Price $2,591,000

Units 4

$/Unit $647,750

Sq Ft 3,193

$/Sq Ft $811.46

Unit Mix (3) 1 x 1, (1) 2 x 2



GRM (Current) 20.71

GRM (Market) 19.63

COE 4/17/18

DOM 14

Comments:Mostly small 1-bedroom units, with a 2- bedroom owner’s unit. Upgraded, but not to the level of Higdon. Lower rents.

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194 GLADYS AVENUEMOUNTAIN VIEW, CALIFORNIA

Price $2,450,000

Units 4

$/Unit $612,500

Sq Ft 3,328

$/Sq Ft $736.18

Unit Mix (4) 2 x 1



GRM (Current) 20.94

GRM (Market) 19.26

COE 12/10/17

DOM 23

Comments: Inferior location, building, unit mix, rents, and upgrades.

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● M A P O F C O M P A R A B L E S A L E S ●

MOUNTAIN VIEW

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726 MARIPOSA AVENUE MOUNTAIN VIEW, CALIFORNIA

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224 BUSH STREETMOUNTAIN VIEW, CALIFORNIA

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1590 LATHAM STREET MOUNTAIN VIEW, CALIFORNIA

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194 GLADYS AVENUE MOUNTAIN VIEW, CALIFORNIA

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179 HIGDON AVENUE · 179 HIGDON aee MOUNTa e, Caa DETAILS Address 179 Higdon Ave Mountain View, CA...

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