533 University Avenue, Los Gatos, California 95032, Los Gatos, 95032 - 0 bed, 0 bath
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533 University Avenue
Los Gatos, California 95032
ACTIVE
CONDITION: GOOD
0Beds
0Baths
2,572Sq Ft
5,408Lot Size
Property Price
LIST PRICE$1,998,000
EST. MARKET VALUE
$1,998,000
SUMMARY
This triplex represents a Strong Value Opportunity, listed at $1,998,000—positioned well below the $2,199,610 Fair Market Value by 9%. This valuation gap offers $201,610 in Instant Equity. With a Condition Rating of 3, the property features recent interior renovations while maintaining historic character. The site offers significant upside via the potential for an 800 sq. ft. ADU addition. Located in the Los Gatos Union Elementary School District, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-demand rental asset.
Estimated Market Value
$1,998,000
Based on Realkey algorithm analyzing recent comparable sales in Los Gatos.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 533 University Avenue Subject | $1,998,000* List Price | 0 | 0 | 2,572 | $777 | - |
A 36 Forrest Avenue Pending | $1,999,888 List Price | 0 | 0 | 2,135 | $937 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
While the structure dates back to 1898, the interior has undergone significant recent renovations (likely within the last 5-15 years) featuring modern luxury vinyl plank flooring, updated fixtures, and fresh paint. The property appears well-maintained and move-in ready, though the overall age of the building and some older window frames keep it from an 'excellent' rating.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Downtown Location
Situated in the heart of Los Gatos, this property offers unparalleled walkability to Michelin-rated dining, boutique shopping, and scenic trails, ensuring high tenant desirability.
- Significant Value-Add Potential
The property qualifies for an 800 sq. ft. ADU addition above the garage per town ordinances, providing a rare opportunity to increase the unit count and maximize rental yield.
- Elite School District
Located within the prestigious Los Gatos Union Elementary School District, the property benefits from sustained long-term value and appeal to high-quality tenants.
CONSRISKS & DEFICIENCIES
- Historic Maintenance Demands
Built in 1898, the property likely requires specialized upkeep and may have aging infrastructure that necessitates higher capital expenditures for modernization.
- Recent Price Volatility
A substantial $400,000 price reduction shortly after listing suggests a significant market correction or potential buyer concerns regarding the initial valuation and property condition.
About 533 University Avenue
Charming Triplex in the Heart of Downtown Los Gatos. Quintessential lifestyle with a rare investment opportunity. Moments from the vibrant energy of downtown, this property provides the ultimate close-to-everything convenience that defines the magic of this community. Prime investment with timeless character. Fantastic addition to any portfolio offering versatile rental potential in a high-demand market. PER Sec. 29.10.320 OF LOS GATOS CODE OF ORDINANCES, THE TOWN OF LOS GATOS WILL CONSIDER THE ADDITION OF AN 800 SQ. FT. 4TH UNIT IN THE FORM OF AN ADU ABOVE THE GARAGE/CARPORT. Living here means the best of Los Gatos and Silicon Valley are right in your backyard with world-class dining, boutique shopping, and community events just a short stroll away. Residents can walk to local favorites and Michelin-rated dining options. Enjoy an outdoor lifestyle with proximity to Oak Meadow Park, the Los Gatos Creek Trail, the Santa Cruz Mountains and the Santa Cruz all nearby. Close to everything you will need, it also offers effortless access to Hwy 17 and 85 for easy transit around Silicon Valley. The property is situated within the prestigious Los Gatos Union Elementary School District. Do not miss your chance to own a piece of the local legacy in a location that truly has it all.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1898
- Lot Size
- 5,408 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,572 | 2,000 |
| Lot Size | 5,408 | 8,160 |
| Price | $2.00M | $1.66M |
| Price per sq ft | $777 | $830 |
| Built year | 1898 | 1961 |
| HOA | $0 | $0 |
| Days on market | 106 | 39 |
Pricing History
Listed for Sale
Jun 26, 2026
$1,998,000
$2,398,000
-17% Price Drop
Initial Listing
Price Change
May 26, 2026
$2,398,000
Initial Listing