Monday, December 17, 2007

Just Sold - 8 Units Mountain View

Recent sale worthy of note:

433 Ortega Avenue, Mountain View, CA
Sales price $1,620,000
$263 per square foot
GRM 13.8
Cap Rate 4.2% - if you really believe the expenses!
Unit mix: one 3/2, one 2/1 and six 1/1's

Strong location in Mountain View near Palo Alto and Los Altos. Built in 1962 on a 11,760 square foot lot.

This deal probably took 40+% down payment to break even.

Any comments fellow investors?

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