1356 W Dana St Mountain View, CA 94041

Property Details for 1356 W Dana St

Year built

1922

Property size

1,840 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a three-unit apartment building located at 1356 W Dana St, Mountain View, CA 94041. Situated in the heart of Silicon Valley, this property offers unparalleled access to major tech employers and convenient transit options, contributing to high rental demand in the area. Currently, the building has 33% occupancy, with two vacant units and one occupied unit (month-to-month). Built in 1922, the 1,840 square foot building sits on an R1 zoned lot, providing flexibility for future development. The asking price is $2,220,000, translating to $740,000 per unit and $1,206.52 per square foot. This presents a compelling value-add opportunity for investors to renovate existing units and capitalize on the strong rental market. Alternatively, the property's zoning allows for potential redevelopment into a luxury single-family home, further enhancing its investment appeal. The property's prime location, strong employment fundamentals, and the significant gap between rental and ownership costs in the area create a compelling investment case. Full occupancy is projected by July 30, 2024.