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    Charming Triplex in Downtown Los Gatos Title is generated by Realmo AI

    533 University AVE, Los Gatos 95032

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    Claim this Listing
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    For Sale
    $2,398,000

    MULTI_FAMILY - LOS GATOS

    Property size:
    2,572 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $932/SF
    Added:
    May 26, 2026
    Days on Market:
    2
    Last Refresh:
    May 27 at 9:06 pm

    Property Features for 533 University AVE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-1D
    Bedrooms
    5
    Rooms
    Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 2
    Parking features
    Carport, On Street, Garage
    Standard status
    Active
    Size
    2,572 SF
    Lot size
    0.12 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    1898
    Number of units
    3
    Roof type
    Composition, Shingle

    We can help!

    Listing Contact
    Brian Bernasconi
    Brian Bernasconi

    Listing agent Brian Bernasconi License #01363508

    Listing office Christie's International Real Estate Sereno 214 Los Gatos Saratoga Rd., Los Gatos, CA

    Listing date May 26, 2026

    MLS# ML82047345 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime investment opportunity with versatile rental potential in a high‑demand Los Gatos market.
    • Located in the heart of downtown Los Gatos, offering close‑to‑everything convenience.
    • Walking distance to world‑class dining, boutique shopping, and community events.
    • Located within the highly‑rated Los Gatos Union Elementary School District (Daves Avenue Elementary, Fisher Middle, and Los Gatos High).
    • Easy access to Hwy 17 and 85 for convenient commuting around Silicon Valley.
    • Proximity to outdoor recreation including Oak Meadow Park, Los Gatos Creek Trail, and the Santa Cruz Mountains.

    Overview

    This charming triplex is located in the heart of downtown Los Gatos, offering a rare investment opportunity. The property provides close-to-everything convenience, placing residents moments from the vibrant energy of downtown. This prime investment offers versatile rental potential in a high-demand market. Living here means the best of Los Gatos and Silicon Valley are easily accessible, with world-class dining, boutique shopping, and community events just a short stroll away. Residents can walk to local favorites and Michelin-rated dining options. The property's location also provides an outdoor lifestyle with proximity to Oak Meadow Park, the Los Gatos Creek Trail, the Santa Cruz Mountains and Santa Cruz. Effortless access to Hwy 17 and 85 facilitates easy transit around Silicon Valley. Situated within the Los Gatos Union Elementary School District, including Daves Avenue Elementary, Fisher Middle, and Los Gatos High, this location is consistently desirable for tenants and owners. The property, zoned R-1D, has a lot size of 0.1242 acres and a property size of 2572 square feet. This multi-family property is intended for use as a residential income property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Real Estate Agency Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Gatos
    County
    Santa Cruz
    State
    Longitude
    -121.978302
    Latitude
    37.231601

    FAQs

    What type of property is this?
    Triplex - Rare investment opportunity in a prime Los Gatos location.
    Where is this triplex located?
    The property is located at 533 University AVE Los Gatos.
    What is the asking price?
    The asking price for this property is $2,398,000.
    What are key features of this property?
    This property features: Prime investment opportunity with versatile rental potential in a high‑demand Los Gatos market.; Located in the heart of downtown Los Gatos, offering close‑to‑everything convenience.; Walking distance to world‑class dining, boutique shopping, and community events.
    (408) 979-1400
    We can help!
    Listing Contact
    Brian Bernasconi
    Brian Bernasconi
    Real Estate License ID: 01363508
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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