1180 Driftwood Ter - Apartments FOR SALE


Gilroy, CA 95020 | 
$2,475,000 USD
650-208-5282
1180 Driftwood Ter, Gilroy, CA for Sale
$2,475,000 USD
Apartments - FOR SALE
1/8
null | 4.79% Cap Rate

1180 Driftwood Ter
Gilroy, CA 95020


HIGHLIGHTS

  • Opportunity to acquire an 11-unit income property at an attractive low basis of $225,000 per unit
  • Rare offering: same-family ownership since 1986, reflecting nearly 40 years of consistent stewardship
  • Uniform 11-unit, all 1x1 unit mix with abundant parking, mostly single-story layout, and a large lot, creating strong tenant appeal
  • Gilroy offers Santa Clara County’s last sub-$1,000,000 median home price, supporting relative housing affordability and durable renter demand
  • Ideally located on Gilroy’s west side near Santa Teresa Boulevard and the Hecker Pass corridor

OVERVIEW

Marcus & Millichap is pleased to present 1180 Driftwood Terrace, an 11-unit multifamily investment opportunity located in Gilroy, California. Held by the same family since 1986, the property reflects nearly four decades of consistent, hands-on ownership — a rare tenure that has preserved the asset's character while providing the operational continuity today's investors look for. Situated on an approximately 22,000-square-foot lot with 8,336 square feet of building area, 1180 Driftwood Terrace has been well maintained throughout its ownership history, offering an incoming buyer a proven income-producing asset with a stable operating foundation and clear runway for additional upside. The property's uniform unit mix — eleven one-bedroom/one-bathroom residences — is a defining strength rather than a limitation. This configuration simplifies leasing, maintenance, unit turns, and future renovation planning, reducing the operational complexity that often accompanies mixed unit types. Long-term ownership has kept the asset in solid working order while leaving meaningful upside on the table: an incoming investor has the opportunity to selectively enhance unit interiors and capture rental growth as units turn naturally, without the capital burden or execution risk of a full repositioning. It's a measured, low-friction path to value creation that should appeal to both hands-on operators and passive, cash-flow-focused buyers.

FOR SALE DETAILS

PRICE

$2,475,000 USD

PRICE/SF

$297 USD /SF

# OF UNITS

11

PRICE/UNIT

$225,000

CAP RATE

4.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,002 SF

ZONING

R3

APN/PARCEL ID

808-10-035

ASK ABOUT THIS PROPERTY

Joshua JohnsonMarcus & MillichapMore Info
650-208-5282

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Joshua JohnsonMarcus & MillichapMore Info
650-208-5282

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.