This 12-unit multifamily property in Santa Clara presents a compelling value-add opportunity for the experienced investor. Offered at $3,150,000 ($262,500/unit), the property is priced below the current market average of $348,253 per unit, providing immediate equity upside. Nine of the twelve units have been upgraded over the years with newer kitchens, bathrooms, flooring and paint. Current rents total $253,620 annually, generating a GRM of 12.3 and cap rate of 4.96%, well above the average of 4.6%. With strategic improvements and rent adjustments, pro forma rents are estimated at $314,400 annually, which would produce a GRM of 9.94 and cap rate of 6.69%—demonstrating substantial income growth potential. Only California state rent control (5%+CPI) applies to this property. Santa Clara does not have municipal rent control or a rental registry. The property includes eight 1-bedroom/1-bathroom units and four 2-bedroom/1-bathroom units. Current monthly rents range from $1,650 to $2,200, with no increases implemented in the past twelve months. One unit is currently vacant and has recently been renovated and is ready for rental. Comparable renovated units in Santa Clara are achieving $2,100 to $2,400 for a one bedroom unit and between $2,350 to $2,800 for two-bedroom units. There is significant rental upside by raising rents. Recent capital improvements include roof replacement, partial copper plumbing upgrades, sewer lateral line replacement, and full renovation of unit 3. A number of the units while rented, could command higher rents with some additional renovation. Constructed in 1961, the two-story wood-frame building on a concrete perimeter foundation contains approximately 9,220 square feet on a 16,117 square foot lot (0.37 acres) and is zoned R325. There is a separate covered parking structure, so this is not a "soft-story" building requiring retrofit. The property benefits from an excellent Santa Clara location near the Sunnyvale border, with proximity to major employers including Apple, Facebook, LinkedIn, Intel, NVIDIA, Applied Materials and numerous other high-tech employers. Superior transportation access includes US-101, I-880, and El Camino Real. Santa Clara University, Santana Row, and Westfield Valley Fair are all nearby, supporting strong tenant demand. This property is well-suited for value-add investors, 1031 exchange buyers, and investment groups seeking multifamily assets with stable cash flow and appreciation potential in one of Silicon Valley's most desirable rental markets.