109 Cleland Avenue, Los Gatos, California 95030, Los Gatos, 95030 - bed, bath

109 Cleland Avenue, Los Gatos, California 95030 home-pic-0
ACTIVE$4,850,000
109 Cleland Avenue, Los Gatos, California 95030
0Bed
0Bath
5,300Sqft
9,583Lot
Year Built
1964
Close
-
List price
$4.85M
Original List price
$4.85M
Price/Sqft
$915
HOA
-
Days on market
-
Sold On
-
MLS number
ML81961553
Home ConditionExcellent
Features
Good View: Hills
Deck
ViewHills

About this home

We found 3 Cons,5 Pros. Rank: price - $4.85M(50th), sqft - 5300(50th), beds - undefined(50th), baths - undefined(50th).

This is a one-of-a-kind property in the heart of downtown Los Gatos. Incredible investment location with an ideal set up: 3 separate buildings making up 5 total units and offering approx 5300 square feet of living space. For owner occupied - live in the single family style home at the top of the property and rent out the 4 townhome style units below. All interiors recently remodeled and ready for a new owner and tenants. Each townhome style unit is just under 1000 sf and offers 2 bedrooms 1.5 bath. Each unit has it's own interior washer/dryer hookup, fireplace, separate entrances & decks plus separate water, gas and electric meters. The owners unit is approx. 1320 sf 2 bed (could easily become a 3 bedroom) 2 bath and includes two parking spaces in the upper lot accessed from Rogers Road. Off street parking for 8 more (5 carport & 3 open spaces off Cleland). Numerous renovations, great views and all strolling distance to all LG has to offer.

Price History

Date
Event
Price
04/16/24
Listing
$4,850,000
Condition Rating
Excellent

Despite being built in 1964, the property's description states 'All interiors recently remodeled,' which is strongly supported by the images. The kitchens feature modern white shaker cabinets, light quartz-look countertops, and stainless steel appliances. Bathrooms are fully updated with new vanities, modern fixtures, glass shower enclosures, and contemporary tiling. Flooring consists of new LVP/engineered wood and clean, new carpets. Walls are freshly painted, and light fixtures are modern. The overall condition reflects a comprehensive, high-quality renovation, making all components appear new or virtually new, aligning with the 'Excellent' criteria for extensively renovated properties.
Pros & Cons

Pros

Prime Downtown Location: Situated in the highly desirable heart of downtown Los Gatos, offering unparalleled walkability to local amenities, shops, and restaurants.
Exceptional Income Potential: Comprised of 5 distinct units across 3 buildings, including an owner's unit and four townhome-style rentals, providing substantial rental income opportunities with separate utilities.
Recently Remodeled Interiors: All unit interiors have been recently remodeled, presenting a move-in ready condition for both owner and tenants, minimizing immediate capital expenditures.
Abundant Off-Street Parking: Features a rare and valuable 10 off-street parking spaces (5 carport, 3 open, 2 owner's lot), a significant advantage for a multi-unit property in a downtown setting.
Versatile Owner-Occupier & Investment Model: Offers a unique live-in opportunity in the main residence while generating income from the four rental units, appealing to both investors and owner-occupiers seeking financial leverage.

Cons

Age of Original Construction: While interiors are remodeled, the property's 1964 build year suggests potential for older underlying infrastructure (e.g., plumbing, electrical, roof) that may require future maintenance or upgrades.
Complex Property Management: Managing five separate units, even with individual meters, can be a demanding undertaking for an owner, potentially requiring professional property management services and associated costs.
Potential for Reduced Privacy/Increased Noise: As a multi-unit property in a dense downtown area, residents may experience reduced privacy and increased noise levels compared to a traditional single-family home.

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