Who wants to make a small fortune in real estate? You know what to do: start with a large fortune. That is, unless you’re investing in Real Bay Area real estate. Then all you have to do is let the checks roll in while the property appreciates every single minute!
Thanks very much to Burbed reader Michael Boltonestater for this bodacious apartment block in… of course! Mountain View! In case you haven’t already noticed, we’re giving Mountain View a lot of extra love for three days in a row. Why? Because we didn’t talk about them once last week!
1720 WRIGHT Ave
Mountain View, CA 94043
SQ. FT.: 8,120
$/SQ. FT.: $271
LOT SIZE: 0.55 Acres
YEAR BUILT: 1969
COMMUNITY: North Shoreline
COUNTY: Santa Clara
ON REDFIN: 9 days
The units are unusually large, averaging 902 square feet. They offer private backyards and balconies that face an expansive green space protected by the city. Built on over half an acre the land offers the investor a very strong long-term investment as both a rental property or a for sale redevelopment opportunity. The property is less than a mile from a number of major Mountain View employers.
Every real estate purchase is an opportunity in the RBA, and this is a great example. We particularly like the realtard’s 100% correct but absolutely useless claim that the units average 902 square feet. The listing info says the building has eight one-bedroom apartments, each 865 square feet, and one 2/1 apartment, weighing in at 1200 sf.
Are you on the fence about buying this place? So’s the math! The Gross Rent Multiplier is 15.03, right in between buy versus rent.
And speaking of opportunity, check out the location!
Looks like you’ll have a front row seat on whatever’s going in that right-of-way! Maybe if you’re really lucky that’s the alternate route for High Speed Rail!