1180 Driftwood Terrace — Sale in Gilroy, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Gilroy, CA 95020

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Investment Figures

Cap rate
4.79%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

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. Located in southern Santa Clara County, Gilroy offers residents relative affordability while maintaining strong access to employment centers throughout Silicon Valley and the greater South Bay — a combination that supports a deep and durable renter base. With its stable operating history, straightforward unit mix, and clear opportunity for incremental improvement, 1180 Driftwood Terrace presents an attractive combination of current income, operational simplicity, and long-term value creation. The offering should generate broad interest from both private in

Market Context

This multifamily in Gilroy, CA is listed for sale. It is offered at an approximate 4.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Gilroy, CA — view the full market.

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