511 University Avenue

Los Gatos, CA 95032

$1,899,950
Price
Beds
2,145 Sq. Ft.
$886 / Sq. Ft.
2,145
Sq. Ft.
$886
per Sq. Ft.

Description

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;...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.
  1. Listed by Rick Smith • DRE #00907087 • Brokerage DRE #01526679 • KW Bay Area Estates • 408-482-0539

Property Details for 511 University Avenue

MLS City Name
LOS GATOS
Building Type
TRIPLEX
Garage Spaces
1
Parking Spaces
3
Cross Street
Andrews

Location

Listing Courtesy of KW Bay Area Estates, Rick Smith, DRE #00907087
Add your commute
LISTING UPDATED: 04/25/2024 06:39 AM

Property Details for 511 University Avenue

StatusPending ( Do Not Show )
MLS #ML81961957
Days on Compass6
Taxes$4,971 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / TRIPLEX
Year Built1920
Lot Size0.17 AC / 7,203 SF
CountySanta Clara County

Location

Listing Courtesy of KW Bay Area Estates, Rick Smith, DRE #00907087
Add your commute

Building Information for 511 University Avenue

Stories1Residences3Year Built1920Building Size-Lot Size0.17 AC / 7,203 SF

Payment Calculator

$10,783 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,369

Property Taxes

$414

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 511 University Avenue

Features
Room Information
  • Additional Rooms: Laundry Room, Storage
Features
  • Fireplace: No
  • Flooring: Laminate
  • Living SqFt: 2145
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Ceiling Fan
  • Heating: Floor Furnace, Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Detached Garage, On Street, Parking Area
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: Los Gatos/Monte Sereno
  • Roof: Composition
  • Subclass: Triplex
  • Year Built Source: Assessor
  • Street Number: 511
  • Street Name: University
  • Street Suffix: Avenue
  • Area ID: 16
Lot / Property Details
Building Information
  • Number Of Stories: 1
  • Number of Buildings: 2
  • Structure SqFt: 2145
  • Structure SqFt Source: Other
  • Age: 104
Development Information
  • Ownership Type: Trust
  • Zoning Detail: R-1D
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 529-07-027
  • County Name: Santa Clara
  • City Name: LOS GATOS
  • City Postal ID: 30
  • Postal Code: 95032
  • Elementary School: 140
  • Elementary School District: 461
  • Middle School Text: Raymond J. Fisher Middle
  • High School District Text: Los Gatos-Saratoga Joint Union High
  • High School Text: Los Gatos High
Lot Information
  • Foundation: Concrete Perimeter
  • Horse Property: No
  • Lot Acres: .17
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 0
General Information
  • Annual Tax Amount: $4,971
  • Building Unit Total: 3
  • Capitalization Rate: 3.97
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $2,500
  • Expense Landscape: $3,600
  • Expense Maintenance: $1,200
  • Expense Management: $0
  • Expense Trash: $775
  • Expenses Other: $0
  • Expenses Utility: $1,450
  • Expenses Total: $14,496
  • Operating Expenses Include: Maintenance, Utilities - Water
  • Gross Rent Multiplier: 21.11
  • Income Annual Gross: $90,000
  • Income Annual Rental: $90,000
  • Income Gross Scheduled: $90,000
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 0
  • Unit 1 Number of Bedrooms: 2
Unit 2 Information
  • Unit 2 Approx Square Footage: 719
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 4
  • Unit 2 Number of Bedrooms: 1
Unit 3 Information
  • Unit 3 Approx Square Footage: 391
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Half Bathrooms: 0
  • Unit 3 Number of Bedrooms: 1
Unit Type 1
  • Unit Type1 Approx SqFt: 1035

Property History for 511 University Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 511 University Avenue

Taxable ValueLand$234,354Additions$281,229Total$515,583
Tax Record2023$7,971 ($664 / month)
Home Facts
Total Finished SqFt1,960 SqFtAbove Grade Finished SqFt1,960 SqFtStories1Lot Size7,260 SqFtStyleDuplexYear Built1920ZoningR-1DCountySANTA CLARAAPN529-07-027Fireplace TypeHas Fireplace

Schools near 511 University Avenue

This home is within Los Gatos Union Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - 6 to 8
Public - 6 to 8
Rating
School
Distance
Loma Prieta Elementary School
PublicK to 5

Daves Avenue Elementary School
PublicK to 5

C. T. English Middle School
Public6 to 8

Raymond J. Fisher Middle School
Public6 to 8

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Bay Area Estates, Rick Smith, DRE #00907087

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.