284 Elmwood Street, Mountain View, California 94043, Mountain View, 94043 - bed, bath

284 Elmwood Street, Mountain View, California 94043 home-pic-0
ACTIVE$3,950,000
284 Elmwood Street, Mountain View, California 94043
0Bed
0Bath
3,600Sqft
9,148Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Premier Silicon Valley Location: Situated in Mountain View, offering unparalleled access to major tech companies, downtown amenities, and a strong tenant pool, driving high demand and property value.
Top Cons:
Age of Property (1961 Build): As a 1961 build, the property likely requires significant capital investment for modernization, deferred maintenance, or upgrades to meet current market standards and maximize its potential.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1961 (64 years old).
Condition: Built in 1961, this multi-family property is over 60 years old. While fully occupied, the lack of any mentioned recent renovations and the AI analysis explicitly stating it 'likely requires significant capital investment for modernization, deferred maintenance, or upgrades to meet current market standards and maximize its potential' strongly suggest that the interior, including kitchens and bathrooms, are severely outdated and require substantial rehabilitation. No interior images are provided, but given the age and the focus on land/development potential, it's highly probable that major systems and finishes are well past their prime, necessitating extensive repairs and modernization to meet current living standards.
Year Built
1961
Close
-
List price
$3.95M
Original List price
$4.7M
Price/Sqft
$1,097
HOA
-
Days on market
-
Sold On
-
MLS number
ML81990618
Home ConditionPoor
Features
Good View: Park/Greenbelt
ViewPark/Greenbelt

About this home

This exceptional multi-family property in Mountain View presents an outstanding investment opportunity in the heart of Silicon Valley. With multiple units spanning 3,600 square feet, this fully occupied residence generates steady rental income while offering tremendous development potential on its spacious corner lot. The property's prime location puts residents within walking distance of downtown. Tech professionals will appreciate the proximity to major technology companies, while families benefit from nearby Mountain View Academy and convenient access to the Mountain View Transit Center, a few blocks away. The Caltrain station ensures seamless connectivity throughout the Bay Area. The multiple units provide flexibility for investors seeking consistent cash flow or those considering future development opportunities. The generous lot size offers potential for expansion or enhancement, subject to local planning requirements. Whether you're an experienced investor looking to expand your portfolio or someone seeking development potential in one of California's most sought-after markets, this multi-family gem delivers both immediate returns and long-term growth prospects. The combination of location, income potential, and development possibilities makes this a rare find.

Nearby schools

7/10
Theuerkauf Elementary School
Public,K-50.6mi
7/10
Edith Landels Elementary School
Public,K-50.8mi
7/10
Gabriela Mistral Elementary
Public,K-50.8mi
6/10
Monta Loma Elementary School
Public,K-51.2mi
6/10
Crittenden Middle School
Public,6-81.0mi
8/10
Mountain View High School
Public,9-122.8mi
Condition Rating
Poor

Built in 1961, this multi-family property is over 60 years old. While fully occupied, the lack of any mentioned recent renovations and the AI analysis explicitly stating it 'likely requires significant capital investment for modernization, deferred maintenance, or upgrades to meet current market standards and maximize its potential' strongly suggest that the interior, including kitchens and bathrooms, are severely outdated and require substantial rehabilitation. No interior images are provided, but given the age and the focus on land/development potential, it's highly probable that major systems and finishes are well past their prime, necessitating extensive repairs and modernization to meet current living standards.
Pros & Cons

Pros

Premier Silicon Valley Location: Situated in Mountain View, offering unparalleled access to major tech companies, downtown amenities, and a strong tenant pool, driving high demand and property value.
Income-Generating Multi-Family Asset: Fully occupied with multiple units, providing immediate and steady rental income for investors seeking consistent cash flow.
Substantial Development Potential: Features a spacious 9,148 sqft corner lot with explicit mention of 'tremendous development potential' for future expansion or redevelopment.
Exceptional Connectivity: Within walking distance to downtown, Mountain View Transit Center, and Caltrain, ensuring convenient access across the entire Bay Area.
Strong Educational & Lifestyle Appeal: Proximity to highly-rated schools and a vibrant downtown area enhances desirability for families and professionals, attracting quality tenants.

Cons

Age of Property (1961 Build): As a 1961 build, the property likely requires significant capital investment for modernization, deferred maintenance, or upgrades to meet current market standards and maximize its potential.
Recent Price Reductions: Multiple price drops from the original list price of $4.7M to $3.95M suggest potential market resistance or initial overvaluation, indicating a need for careful market analysis.
Development Contingencies: While development potential exists, it is explicitly 'subject to local planning requirements,' which can introduce regulatory hurdles, delays, and additional costs for investors.

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