1298 Reeve St

Santa Clara, CA 95050

$2,700,000
Last Sold Price
—
Beds
—
Baths
5,168 Sq. Ft.
$522 / Sq. Ft.
5,168
Sq. Ft.
$522
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Sold 8/23/24
Sold 8/23/24
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Description

UNIT 101 open Friday and Saturday (8/9 & 8/10) from 11 AM to 1 PM. Presenting a highly unique mulitfamily opportunity at 1298 Reeve Street, in the heart of Santa Clara, CA. Built in 1979 on an expansive 0.37-acre lot, this distinctive property boasts five units, including two spacious three-bedroom units, a two-bedroom unit, and two cozy one-bedroom units. Each unit features its own garage, in-unit washers and dryers, and private backyards, offering residents unparalleled comfort and convenience....UNIT 101 open Friday and Saturday (8/9 & 8/10) from 11 AM to 1 PM. Presenting a highly unique mulitfamily opportunity at 1298 Reeve Street, in the heart of Santa Clara, CA. Built in 1979 on an expansive 0.37-acre lot, this distinctive property boasts five units, including two spacious three-bedroom units, a two-bedroom unit, and two cozy one-bedroom units. Each unit features its own garage, in-unit washers and dryers, and private backyards, offering residents unparalleled comfort and convenience. What sets 1298 Reeve Street apart is its potential for versatile living arrangements. The sizable three-bedroom owner's unit (UNIT 101) will be delivered vacant, presenting an ideal scenario for a home buyer to occupy this luxurious space while leasing out the remaining units to offset mortgage and tax expenses. This arrangement not only provides immediate income but also positions the property as a strategic investment in Santa Clara's thriving real estate market.
  1. Listed by Jimmy Castellanos • DRE #02024152 • Brokerage DRE #01240999 • Marcus & Millichap • 408-483-5040
  2. Listed by Mitchell Zurich • DRE #01870648 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1298 Reeve Street

MLS City Name
SANTA CLARA
Building Type
Other
Complex Name
Reeve Street Cottages
Garage Spaces
5
Parking Spaces
2
LISTING UPDATED: 08/23/2024 12:57 PM

Property Details for 1298 Reeve Street

StatusSold
MLS #ML81975632
Days on Compass8
Taxes$30,965 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1979
Lot Size0.37 AC / 16,275 SF
CountySanta Clara County
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Location

Listing Courtesy of Marcus & Millichap, Jimmy Castellanos, DRE #02024152; Marcus & Millichap, Mitchell Zurich, DRE #01870648

Sold By Marcus & Millichap, Jimmy Castellanos, DRE #02024152

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Building Information for 1298 Reeve Street

Stories-Residences-Year Built1979Building Size-Lot Size0.37 AC / 16,275 SF

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$16,035 per month

30 year fixed, 6.36% Interest

Principal and Interest

$13,454

Property Taxes

$2,580

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1298 Reeve Street

Features
Features
  • Fireplace: No
  • Living SqFt: 5168
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Window / Wall Unit
  • Heating: Electric, Wall Furnace
  • Meters: Master Water, Separate Electric
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Attached Garage
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 5
  • Area Text: Santa Clara
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 1298
  • Street Name: Reeve
  • Street Suffix: Street
  • Area ID: 8
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 5168
  • Structure SqFt Source: Assessor
  • Age: 45
Development Information
  • Construction Type: Wood Frame
  • Zoning Detail: R3
Location Information
  • City Limits: Yes
  • Incorporated: No
  • Parcel Number: 224-26-072
  • County Name: Santa Clara
  • City Name: SANTA CLARA
  • City Postal ID: 63
  • Postal Code: 95050
  • Elementary School: 401
  • Elementary School District: 483
  • Middle School Text: Buchser Middle
  • High School District Text: Santa Clara Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .37
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
Building Information
  • No Of Leased: 4
General Information
  • Annual Tax Amount: $30,965
  • Capitalization Rate: 4.30
  • Tenant Expenses: Utilities - Electric, Utilities - Hot Water
  • Income Includes: Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $5,151
  • Expense Landscape: $3,600
  • Expense Maintenance: $2,500
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $11,686
  • Expenses Total: $53,902
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Utilities - Electric, Utilities - Water
  • Gross Rent Multiplier: 15.31
  • Income Annual Gross: $167,849
  • Income Annual Rental: $173,040
  • Income Gross Scheduled: $173,040
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 2
  • Unit 1 Half Bathrooms: 1
  • Unit 1 Number of Bedrooms: 3
  • Unit 1 Rent: $4,650
Unit 2 Information
  • Unit 2 Full Bathrooms: 2
  • Unit 2 Number of Bedrooms: 3
  • Unit 2 Rent: $2,600
Unit 3 Information
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Half Bathrooms: 1
  • Unit 3 Number of Bedrooms: 2
  • Unit 3 Rent: $2,795
Unit 4 Information
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 1
  • Unit 4 Rent: $2,250

Property History for 1298 Reeve Street

DateEvent & SourcePriceAppreciation
Aug 23, 2024

Sold

MLSListings #ML81975632

$2,700,000—
Aug 23, 2024

Sold

EBRD #ML81975632

$2,700,000—
Aug 13, 2024

Pending

MLSListings #ML81975632

—
DateEvent & SourcePrice
08/23/2024

Sold

MLSListings #ML81975632

$2,700,000
08/23/2024

Sold

EBRD #ML81975632

$2,700,000
08/13/2024

Pending

MLSListings #ML81975632

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 1298 Reeve Street

This home is within Santa Clara Unified School District.
Rating
School
Type
Grades
Distance
Scott Lane Elementary School
Public - K to 5
Buchser Middle School
Public - 6 to 8
Santa Clara High School
Public - 9 to 12
Wilson Alternative School
Public - K to 12
Rating
School
Distance
Scott Lane Elementary School
PublicK to 5

Buchser Middle School
Public6 to 8

Santa Clara High School
Public9 to 12

Wilson Alternative School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jimmy Castellanos, DRE #02024152; Marcus & Millichap, Mitchell Zurich, DRE #01870648

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.