665 East Olive Avenue
Sunnyvale, CA 94086
Sq. Feet 7,840
Marcus and Millichap is pleased to present 238 West California Avenue to the Bay Area’s Investment Community.
This 3-unit apartment complex consists of (1) 3-Bed/1-Bath single family home in addition to (2) 2-Bed/1.5-Bath Town Homes. Built in 1979 the subject property has a gross livable area of 3,724 square feet and is situated on a 9,400-square foot lot. Tenants are responsible for paying all expenses including water, electric, gas and trash removal. Current ownership has done an exceptional job keeping the property in immaculate condition. Significant capital improvements have been added to all the unit interiors such as new appliances, kitchen cabinets, kitchen counters, flooring and bathrooms, and there is still tremendous upside in rents.
The subject property is located 4 miles from Apple’s highly anticipated spaceship campus in Cupertino. This new campus is expected to provide more than 12,000 jobs in an already impressive job market. Sunnyvale is a major city in the Silicon Valley and the seventh most populous city in the San Francisco Bay Area. Many of the largest technology companies have operations in and around Sunnyvale including Google, Apple, LinkedIn, Amazon, Microsoft, and Yahoo. The robust high tech job growth, shortage of housing units, rent growth, and proximity to large Silicon Valley employers make 238 West California Avenue a truly fantastic opportunity.
Cap Rate: 3.28% NOI: $81,992 Livable Sq. Ft: 3,724
Built in 1979 3 units Lot Sq. Ft: 0.22 Acres