16 Terrace Court, Los Gatos, California 95030, Los Gatos, 95030 - 5 bed, 3 bath
ACTIVE$2,499,000$2,123/sqft
Est. Value: $2,755,141
10%
BelowEstimate
16 Terrace Court, Los Gatos, California 95030
5Beds
3Baths
2,123Sqft
7,830Lot
Price Vs. Estimate
The estimated value ($2,755,140.645) is $256,140.645 (10%) higher than the list price ($2,499,000). This property may be underpriced.
Key pros and cons
Top Pros:
Strong Income & Low Expenses: The property is a well-maintained, fully updated triplex offering strong income with low operating expenses, presenting a turnkey investment with stable cash flow.
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 $3.90M ($-1,401,000)12%
Size:2,123 sqft vs avg 2,753 sqft27%
Price/sqft:$1.2K vs avg $1.4K21%
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 modern white shaker cabinets, subway tile backsplashes, stainless steel appliances, contemporary light fixtures (recessed lighting and updated flush mounts), and new laminate/LVP flooring throughout. The bathrooms feature modern vanities, glass-enclosed showers with updated tiling, and contemporary fixtures. The description explicitly states 'fully updated' and 'all in excellent condition with nothing needed,' which is strongly supported by the images, indicating a very recent and comprehensive renovation that brings the property to current quality standards.
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
ML82031505
Home ConditionExcellent
Features
Good View: Park/Greenbelt
Patio
ViewPark/Greenbelt
About this home
Well-maintained and fully updated TRIPLEX in town, offering strong income with low operating expenses. The property features two spacious 2-bedroom/1-bath units - 761 sf and one 1-bedroom/1-bath unit, 547 sf, 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, short walk to town and trails. 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.
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 modern white shaker cabinets, subway tile backsplashes, stainless steel appliances, contemporary light fixtures (recessed lighting and updated flush mounts), and new laminate/LVP flooring throughout. The bathrooms feature modern vanities, glass-enclosed showers with updated tiling, and contemporary fixtures. The description explicitly states 'fully updated' and 'all in excellent condition with nothing needed,' which is strongly supported by the images, indicating a very recent and comprehensive renovation that brings the property to current quality standards.
Pros & Cons
Pros
Strong Income & Low Expenses: The property is a well-maintained, fully updated triplex offering strong income with low operating expenses, presenting a turnkey investment with stable cash flow.
Prime Los Gatos Location: Centrally located near the high school, with a short walk to town and trails, enhancing desirability and tenant appeal in a highly sought-after area.
Fully Updated & Excellent Condition: All units are in excellent condition with nothing needed, having been fully updated, which minimizes immediate capital expenditures for a new owner.
Desirable Unit Amenities: Each unit features larger kitchens, generously sized bedrooms and bathrooms, in-unit washer/dryers, private porches, and outdoor areas, contributing to high tenant satisfaction and retention.
Stable Tenancy & Rental History: Boasts a solid rental history with good rents, very low expenses, and reliable long-term tenants in place with newly extended leases, ensuring immediate and secure cash flow.
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.
Property Age: Built in 1954, despite being updated, the underlying infrastructure may still be older, potentially leading to unforeseen maintenance or upgrade costs in the long term.
Vague School District Information: The listing specifies 'High School District: Other,' which is unspecific and could be a drawback for some potential buyers who prioritize specific, highly-rated school districts in Los Gatos.
Limited Immediate Rent Optimization: With reliable long-term tenants on newly extended leases, a new owner may have limited immediate opportunity to significantly increase rents to full market potential or occupy a unit without a potentially lengthy process.