Two-Home Residential Income
36 Forrest Avenue Los Gatos, CA 95032
36 Forrest Avenue, Los Gatos, CA, 95032
$1,999,888
Pending
For Sale
$1,999,888
Pending
Two distinct houses include a custom-built main home and a separately set back house with private patio.
Property Size2,135 SF
Days on Market327
Property Features for 36 Forrest Avenue
General Information
- Standard status
- Pending
- Size
- 2,135 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1954
Listing agency
Intero Real Estate Services
(408) 863-3020
Listed by
Jim Mauldwin · License #01125380
(408) 863-3020
Source
Exitrealty
Added: Aug 31, 2025 Updated: Jul 23 at 4:56AM Checked: Jul 23 at 4:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Intero Real Estate Services
Investment Insights
Based on property information with market context.
36/38 Forrest Ave features two distinct residential units on one property: a main house at 36 and a back house at 38. The main home was custom built in 2000 and offers 2 bedrooms and 2 bathrooms with 1,386 square feet of interior space. It includes a combined living/dining setup with a bar and custom kitchen with cherry cabinetry and verde butterfly granite countertops, along with French doors to a patio deck and a patio off the primary bedroom. Other highlights include a see-through gas fireplace, vaulted ceilings, madrone hardwood floors, stone tile bathrooms, 18 skylights, and an attached garage. New LED lighting and on-demand hot water are also noted.
A brick driveway and brick walkways lead to a brick garden gate and a private 749 square foot back yard leading to the back house at 38. The back house was renovated in 2018 and offers 2 bedrooms and 1 bathroom, with a living/dining combination, hardwood floors, an eat-in tiled kitchen, and a laundry area. The back house also has its own garden patio and is described as having been rented for $3,050 over the past three years.
A brick driveway and brick walkways lead to a brick garden gate and a private 749 square foot back yard leading to the back house at 38. The back house was renovated in 2018 and offers 2 bedrooms and 1 bathroom, with a living/dining combination, hardwood floors, an eat-in tiled kitchen, and a laundry area. The back house also has its own garden patio and is described as having been rented for $3,050 over the past three years.
Key Highlights
- Two distinct houses on one property: main house at 36 Forrest Ave plus a separate back house at 38 Forrest Ave
- Main house (36): custom built 2000, 2 bed/2 bath, 1,386 sq ft, with vaulted ceilings, 18 skylights, and madrone hardwood floors
- Main house features a combo living/dining/bar area with a custom kitchen (cherry cabinets, verde butterfly granite counters) and a see‑through gas fireplace
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.1k | $40.80 |
| − Vacancy | −$2.1k | −$0.97 |
| EGI | $85.0k | $39.83 |
| − OpEx | −$25.5k | −$11.95 |
| NOI | $59.5k | $27.88 |
2,135 SF · lease $40.80/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$850.3K
$744.1K – $992.1K
NOI $59,524 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$785.1K
$686.9K – $915.9K
NOI $54,955 @ 7.0% cap · market cap 2.75%
Theoretical Best
Retail
$1.22M
$1.07M – $1.42M
NOI $85,456 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two distinct houses include a custom-built main home and a separately set back house with private patio.
Where is this duplex located?
The property is located at 36 Forrest Avenue Los Gatos, CA.
What is the asking price?
The asking price for this property is $1,999,888.
What are key features of this property?
This property features: Two distinct houses on one property: main house at 36 Forrest Ave plus a separate back house at 38 Forrest Ave; Main house (36): custom built 2000, 2 bed/2 bath, 1,386 sq ft, with vaulted ceilings, 18 skylights, and madrone hardwood floors; Main house features a combo living/dining/bar area with a custom kitchen (cherry cabinets, verde butterfly granite counters) and a see‑through gas fireplace
