August 19, 2011

Lots of upside, if you’re down with that

We really have been neglecting Campbell for too long.  So, do you want to be a slumlord?  This place even has an address that sounds trashy!

300 DUNSTER Dr, Campbell, CA 95008
$1,950,000

image

BEDS: –
BATHS: –
SQ. FT.: 8,656
$/SQ. FT.: $225
LOT SIZE: 0.41 Acres
STORIES: 2
YEAR BUILT: 1957
COMMUNITY: Campbell
COUNTY: Santa Clara
MLS#: 81019760
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 448 days

Great Campbell location. No rent controll. Lots of upside. Please do not disturb the tenants.

Here’s some more information you may need before making up your mind on this beauty tucked into the quiet, bucolic Hamilton and Winchester area:

imageMulti-Family Information
  • 1 Bedroom Unit(s)
  • 2 Bedroom Unit(s)
  • # of 1 Bed 1 Bath Units: 9
  • Min Rent for a 1 Bed 1 Bath Unit: $925
  • Max Rent for a 1 Bed 1 Bath Unit: $1,175
  • # of 2 Bed 1 Bath Units: 5
  • Min Rent for a 2 Bed 1 Bath Unit: $1,150
  • Max Rent for a 2 Bed 1 Bath Unit: $1,400
  • Vacancy Factor: 5
  • Vacancy Amount: 9526
  • Existing Rental Terms: Month-to-Month Rental(s)
Financial Information
  • City Transfer Tax: No
  • Tax Amount: $23,693.32
  • Gross Rent Multiplier: 10.24
  • Laundry Income: $4,200
  • Rental Income: $186,312
  • Net Income: $132,813
  • Gross Scheduled Income: $190,512
  • Gross Annual Income: $180,986
  • Gross Annual Income Includes: Laundry
  • Gross Annual Income Includes: Rents
  • Capitalization Rate: 6.8110000000
  • All Cash or Conventional
  • Financial Information Source: Tax Return

You see?  You can make money every time your serfs tenants do their laundry!  Could anything be more awesome than that?  Now all you have to do is figure out how to make them pay you when they surf the internet or use the kitchen appliances.  I think coin-operated routers, stoves, refrigerators, and microwaves are the wave of the future!

Comments (5) -- Posted by: madhaus @ 5:05 am

5 Responses to “Lots of upside, if you’re down with that”

  1. madhaus Says:

    Ha, and I thought you would all love 18 units of crapbox instead of the usual single-family crapbox. Plus, this multicrapbox can be yours for the price of three or four small boxen!

  2. The Gilroy Alex Says:

    Great. A POS full of morons. I could rent a rather nice “mother in law cottage” in Palo Alto for a grand, I was looking at ‘em a few years ago, living in a little houselet in the middle of a beautiful garden, it looked like a delightful way to live, except I was messing around with carloads of ugly electronic test equipment and carting that crap in’n’out so I needed a place I could get away with that sort of thing. Which is why I lived in apartment blocks in Sunnyvale. Screaming kids, gangsters, drugs, whee! This place looks a level or two WORSE, it probably caters to the trashed-credit crowd. If you’re really lucky, half of the denizens of this landlocked coral reef aren’t even on the leases, the original lease-holders just handed the keys to their friends after they left for brighter futures back in the old country.

  3. z2amiller Says:

    They always leave this out of the rent vs buy calculators, but most of the time the places you rent look like this. The majority of affordable apartments in the RBA look like some variation of this. Even if you find a nice place to live, you inevitably end up with a landlord that makes the cheapest possible repair, every time. Plumbing leak? Nothing half a roll of duct tape can’t fix. Faucet broke? Oh I think I found something in my garage at home that I ripped out of a similar unit back in 1972. Need a new sink? I’ll find the cheapest one at home depot, and then cut the sides of your vanity drawers out because the basin is too wide to fit with the drawers in.

  4. nomadic Says:

    This is craptacular! Instant slumlord.

    tsk, tsk, it was purchased eleven years ago for $1.75M. Hurry! Won’t last… (484 days and counting.)

  5. property is in poor condition and needs a lot of repairs [Burbed.com] Says:

    [...] part of the one percent,  That’s an income of $386,000, which means you could afford a $1,958,000 house, if you did a little bit of creative financing.  And if you want to buy in the Real Bay Area, [...]


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