209 Milbrae Lane

Los Gatos, CA 95032

$4,300,000
Price
Beds
5,750 Sq. Ft.
$748 / Sq. Ft.
5,750
Sq. Ft.
$748
per Sq. Ft.

Description

The Rubio Group of Marcus & Millichap is pleased to present 209 Milbrae Lane, an eight-unit apartment complex, located in Los Gatos, CA. 209 Milbrae Lane is a fully upgraded turnkey investment property in Los Gatos, CA. The asset was constructed in 1958, and fully renovated in 2018. It sits on a 12,062 square foot lot, offering 5,750 square feet of building area. 209 Milbrae Lane offers (6) six one-bed, one-bath units, and (2) two-bed, one-bath units, all of which have been fully upgraded including:...The Rubio Group of Marcus & Millichap is pleased to present 209 Milbrae Lane, an eight-unit apartment complex, located in Los Gatos, CA. 209 Milbrae Lane is a fully upgraded turnkey investment property in Los Gatos, CA. The asset was constructed in 1958, and fully renovated in 2018. It sits on a 12,062 square foot lot, offering 5,750 square feet of building area. 209 Milbrae Lane offers (6) six one-bed, one-bath units, and (2) two-bed, one-bath units, all of which have been fully upgraded including: LPV flooring, granite counter tops, new cabinets and fixtures in the kitchens and bathrooms, central HVAC and in-unit washer and dryers. In addition to high-end interior renovations, the complex offers tenants private covered parking stalls, individual 8x8 storage spots, a small private fenced interior courtyard and a mini putting green. An investor could not ask for a better location. 209 Milbrae sits within walking distance to the numerous premium retail and restaurant options of down town Los Gatos. Furthermore, tenants living here are within the highly rated and prestigious Los Gatos-Saratoga Union High School District which makes this asset a poplar choice for tenants looking to be within this school district.
  1. Listed by Fred Rubio • DRE #01984041 • Brokerage DRE #01240999 • Marcus & Millichap • 408-314-3009

Property Details for 209 Milbrae Lane

MLS City Name
LOS GATOS
Building Type
Other
Garage Spaces
0
Parking Spaces
3
LISTING UPDATED: 11/18/2024 01:11 PM

Property Details for 209 Milbrae Lane

StatusActive
MLS #ML81986907
Days on Compass3
Taxes$48,225 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.28 AC / 12,062 SF
CountySanta Clara County

Building Information for 209 Milbrae Lane

Stories-Residences-Year Built1958Building Size-Lot Size0.28 AC / 12,062 SF

Property Information for 209 Milbrae Lane

Features
Room Information
  • Kitchen: Countertop - Granite, Dual Fuel
Features
  • Amenities: Other
  • Fireplace: No
  • Flooring: Vinyl / Linoleum
  • Laundry: Washer / Dryer
  • Living SqFt: 5750
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Central AC, Other
  • Heating: Central Forced Air
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer in Street
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Water On Site
Carport and Parking
  • Carport Min: 8
Garage
  • Garage and Parking: Carport, Common Parking Area
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 8
  • Area Text: Los Gatos/Monte Sereno
  • Restrictions: None
  • Roof: Flat / Low Pitch
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 209
  • Street Name: Milbrae
  • Street Suffix: Lane
  • Area ID: 16
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5750
  • Structure SqFt Source: Other
  • Age: 66
Development Information
  • Zoning Detail: RM520
Location Information
  • Parcel Number: 529-08-034
  • County Name: Santa Clara
  • City Name: LOS GATOS
  • City Postal ID: 30
  • Postal Code: 95032
  • Elementary School District: 461
  • High School District Text: Los Gatos-Saratoga Joint Union High
Lot Information
  • Foundation: Concrete Perimeter and Slab
  • Lot Acres: .28
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 8
General Information
  • Annual Tax Amount: $48,225
  • Capitalization Rate: 4.02
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: None
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $7,000
  • Expense Landscape: $1,200
  • Expense Maintenance: $4,000
  • Expense Management: $0
  • Expense Trash: $1,720
  • Expenses Other: $5,000
  • Expenses Utility: $6,105
  • Expenses Total: $73,250
  • Operating Expenses Include: Fee - Other Taxes, Fee - Property Tax, Insurance, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water
  • Gross Rent Multiplier: 16.94
  • Income Annual Gross: $253,800
  • Income Annual Rental: $253,800
  • Income Gross Scheduled: $253,800
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $2,475
Unit 2 Information
  • Unit 2 Approx Square Footage: 800
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $3,150
Unit Type 1
  • Unit Type1 Approx SqFt: 600

Property History for 209 Milbrae Lane

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 209 Milbrae Lane

Taxable ValueLand$2,690,628Additions$2,050,322Total$4,740,950
Tax Record2024$58,364 ($4,864 / month)
Home Facts
Total Finished SqFt5,166 SqFtAbove Grade Finished SqFt5,166 SqFtStories2Lot Size12,062 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningRM520CountySANTA CLARAAPN529-08-034Fireplace TypeHas Fireplace

Schools near 209 Milbrae Lane

This home is within Los Gatos Union Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 5
Public - 6 to 8
Public - 6 to 8
Rating
School
Distance
Daves Avenue Elementary School
PublicK to 5

Loma Prieta Elementary School
PublicK to 5

Raymond J. Fisher Middle School
Public6 to 8

C. T. English Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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209 Milbrae Lane is for sale in Los Gatos, CA 95032. This property was listed for sale on November 18, 2024 by Marcus & Millichap, it's currently listed at $4,300,000. It has been on the market for a total of 3 days and was last sold on June 12, 2018. This listing's school districts are Los Gatos Union Elementary School District, Loma Prieta Joint Union Elementary School District, Los Gatos-Saratoga Joint Union High School District. Nearby schools include Daves Avenue Elementary School, Loma Prieta Elementary School and Raymond J. Fisher Middle School. 209 Milbrae Lane is a 0-bed, 0-bath, 5,750 sqft built in 1958.

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Listing Courtesy of Marcus & Millichap, Fred Rubio, DRE #01984041

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.