16 Terrace Court, Los Gatos, California 95030, Los Gatos, 95030 - bed, bath
ACTIVE$2,499,000$2,123/sqft
16 Terrace Court, Los Gatos, California 95030
0Bed
0Bath
2,123Sqft
7,830Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income & Low Expenses: The triplex offers strong income with low operating expenses, supported by a solid rental history, good rents, and reliable long-term tenants with newly extended leases, making it a stable cash flow investment.
Top Cons:
Recently Sold Property: The property was recently sold within the past year on 2025-02-28. The sold price is $2,430,000.00.
Compared to the nearby listings
Price:$2.50M vs avg $2.41M (+$87,000)50%
Size:2,123 sqft vs avg 2,050 sqft50%
Price/sqft:$1.2K vs avg $1.2K50%
More Insights
Built in 1954 (72 years old).
Condition: Despite being built in 1954, the property has been extensively and recently renovated, as evidenced by the 'fully updated' description and the images. The kitchens feature modern white shaker cabinets, subway tile backsplashes, stainless steel appliances, and recessed lighting. Bathrooms are updated with contemporary vanities, solid surface countertops, large format tile showers with glass enclosures, and pebble floors. Throughout the units, there is consistent modern laminate wood flooring and fresh paint. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
1954
Close
-
List price
$2.5M
Original List price
$2.5M
Price/Sqft
$1,177
HOA
-
Days on market
-
Sold On
-
MLS number
ML82031463
Home ConditionExcellent
Features
Good View: Park/Greenbelt
Patio
ViewPark/Greenbelt
About this home
Well-maintained and fully updated triplex offering strong income with low operating expenses. The property features two spacious 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, all in excellent condition with nothing needed. Each unit offers larger kitchens, generously sized bedrooms and bathrooms, in-unit washer/dryers, private porches, and outdoor areas ideal for planting or personal use. Centrally located near the high school off of East Main then Pleasant Street, providing excellent walkability to town and trails and consistent tenant demand. Solid rental history with good rents, very low expenses, and reliable long-term tenants in place with newly extended leases. Turnkey investment with stable cash flow, would be easily filled if vacated due to location and unit quality. Expenses provided are estimates for 12 months.
B
Bill Rippe
Listing Agent
Price History
Date
Event
Price
02/28/25
Sold
$2,430,000
06/26/18
Sold
$1,420,000
Condition Rating
Excellent
Despite being built in 1954, the property has been extensively and recently renovated, as evidenced by the 'fully updated' description and the images. The kitchens feature modern white shaker cabinets, subway tile backsplashes, stainless steel appliances, and recessed lighting. Bathrooms are updated with contemporary vanities, solid surface countertops, large format tile showers with glass enclosures, and pebble floors. Throughout the units, there is consistent modern laminate wood flooring and fresh paint. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons
Pros
Strong Income & Low Expenses: The triplex offers strong income with low operating expenses, supported by a solid rental history, good rents, and reliable long-term tenants with newly extended leases, making it a stable cash flow investment.
Turnkey & Excellent Condition: The property is well-maintained, fully updated, and in excellent condition, requiring nothing needed for immediate occupancy or operation, presenting a true turnkey investment opportunity.
Prime Location & Walkability: Centrally located in Los Gatos, near the high school, offering excellent walkability to town and trails, which contributes to consistent tenant demand and property value.
Desirable Unit Features: Each unit boasts larger kitchens, generously sized bedrooms and bathrooms, in-unit washer/dryers, private porches, and outdoor areas, enhancing tenant satisfaction and retention.
Stable Tenant Base & High Demand: The property benefits from reliable long-term tenants in place and high tenant demand due to its location and unit quality, ensuring easy re-filling if vacancies occur.
Cons
Recently Sold Property: The property was recently sold within the past year on 2025-02-28. The sold price is $2,430,000.00.
Age of Property: Built in 1954, despite being fully updated, the underlying structure's age may lead to potential future maintenance needs for older systems not covered by cosmetic renovations.
Estimated Operating Expenses: The provided operating expenses are estimates for 12 months, which may introduce a degree of financial uncertainty for a buyer who would need to verify actual costs.
Lack of Detailed Parking Information: The description does not explicitly detail parking arrangements for the three units, which can be a significant consideration for tenants and property management in a multi-unit dwelling.