7240 East Street

Gilroy, CA 95020

$1,299,900
Price
Beds
3,058 Sq. Ft.
$425 / Sq. Ft.
3,058
Sq. Ft.
$425
per Sq. Ft.

Description

Incredible Investment Opportunity! This property features four units, each with 2 bedrooms and 1 bathroom, offering comfortable and convenient living spaces. With all units currently occupied and in high demand, this property presents an excellent investment prospect. Each unit is equipped with its own electric and gas meter. The property offers a convenient location just a short drive from shopping, restaurants, and essential amenities. Rents are at below-market rents. Market rent is between $2,100...Incredible Investment Opportunity! This property features four units, each with 2 bedrooms and 1 bathroom, offering comfortable and convenient living spaces. With all units currently occupied and in high demand, this property presents an excellent investment prospect. Each unit is equipped with its own electric and gas meter. The property offers a convenient location just a short drive from shopping, restaurants, and essential amenities. Rents are at below-market rents. Market rent is between $2,100 to $2,300 monthly for each unit. With exceptional potential and great upside, this property is not to be missed. Drive-by viewings are welcome, but kindly respect the privacy of the tenants, and refrain from disturbing them. Back on market. No fault of seller. Huge price Improvement!
  1. Listed by Jenny Huang • DRE #01362454 • Brokerage DRE #01908304 • Coldwell Banker Realty • 408-203-1128

Property Details for 7240 East Street

MLS City Name
GILROY
Building Type
FOURPLEX
Garage Spaces
0
Parking Spaces
8
Cross Street
Old Gilroy St
LISTING UPDATED: 10/12/2024 09:03 PM

Property Details for 7240 East Street

StatusActive
MLS #ML81972824
Days on Compass105
Taxes$4,184 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / Fourplex
Year Built1964
Lot Size0.17 AC / 7,405 SF
CountySanta Clara County

Building Information for 7240 East Street

Stories2Residences4Year Built1964Building Size-Lot Size0.17 AC / 7,405 SF

Property Information for 7240 East Street

Features
Features
  • Fireplace: No
  • Flooring: Carpet, Laminate, Vinyl / Linoleum
  • Laundry: Coin Operated
  • Living SqFt: 3058
  • Pool: No
  • Security Features: Other
  • Special Features: Parking
Utilities
  • Cooling: Window / Wall Unit
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Common Area, Separate Electric
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: No Garage, On Street, Parking Area
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: Morgan Hill / Gilroy / San Martin
  • Roof: Composition
  • Subclass: Fourplex
  • Year Built Source: Assessor
  • Street Number: 7240
  • Street Name: East
  • Street Suffix: Street
  • Area ID: 1
Lot / Property Details
Building Information
  • Number Of Stories: 2
  • Number of Buildings: 1
  • Structure SqFt: 3058
  • Structure SqFt Source: Assessor
  • Age: 60
Development Information
  • Zoning Detail: R3
Location Information
  • Parcel Number: 841-10-006
  • County Name: Santa Clara
  • City Name: GILROY
  • City Postal ID: 21
  • Postal Code: 95020
  • Elementary School District: 478
  • High School District Text: Gilroy Unified
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Acres: .17
  • 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: 1
General Information
  • Annual Tax Amount: $4,184
  • Building Unit Total: 4
  • Capitalization Rate: 2.75
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $3,243
  • Expense Landscape: $569
  • Expense Maintenance: $3,200
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $7,658
  • Expenses Total: $18,854
  • Operating Expenses Include: Maintenance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Gross Rent Multiplier: 23.79
  • Income Annual Gross: $54,637
  • Income Annual Rental: $53,400
  • Income Gross Scheduled: $54,637
  • Income Other: $1,237
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $1,100
Unit 2 Information
  • Unit 2 Approx Square Footage: 765
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $1,100
Unit 3 Information
  • Unit 3 Approx Square Footage: 765
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 2
  • Unit 3 Rent: $1,125
Unit 4 Information
  • Unit 4 Approx Square Footage: 765
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 2
  • Unit 4 Rent: $1,125
Unit Type 1
  • Unit Type1 Approx SqFt: 765

Property History for 7240 East Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7240 East Street

Taxable ValueLand$89,594Additions$238,949Total$328,543
Tax Record2024$4,209 ($351 / month)
Home Facts
Total Finished SqFt3,058 SqFtAbove Grade Finished SqFt3,058 SqFtStories2Lot Size7,623 SqFtStyleQuadraplexYear Built1964ZoningR3CountySANTA CLARAAPN841-10-006Fireplace TypeHas Fireplace

Schools near 7240 East Street

This home is within Gilroy Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Eliot Elementary School
PublicK to 5

Brownell Middle School
Public6 to 8

Solorsano Middle School
Public6 to 8

Gilroy High School
Public9 to 12

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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7240 East Street is a multi-family home for sale in Gilroy, CA 95020. This property was listed for sale on July 11, 2024 by Coldwell Banker Realty, it's currently listed at $1,299,900. This listing's school district is Gilroy Unified School District. Nearby schools include Eliot Elementary School, Brownell Middle School and Solorsano Middle School. 7240 East Street is a 0-bed, 0-bath, 3,058 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Jenny Huang, DRE #01362454

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.