Monday, July 23, 2012
The MPIRES group just finished representing a buyer on a beautiful 5 unit apartment building in the foothills of Cupertino's Monta Vista area. Our client was finishing a 1031 tax-deferred exchange from an investment property that they owned in the Central Valley. This exchange yielded them less management, stable cash flow in a fully occupied building and good rent upside as rents continue to climb in central Silicon Valley. The property was located off of Foothill Expressway on Alpine Road. Each of the units had private balconies or backyards and some with excellent valley views. The outstanding school system in the area is a huge draw for tenants and a driver of solid rental rates.