1272 Poplar Avenue
Sunnyvale, CA 94086
Sq. Feet 12,060
537 Mariposa Avenue is a single-story apartment building just blocks from downtown Mountain View. The property was purchased last year and a complete remodel of each unit is scheduled to be completed in May of 2014.
The unit mix consists of twelve studios spread amongst three detached buildings. All of the buildings are constructed of wood framing and exterior, and lie on a concrete perimeter foundation. Each unit has a 100 square foot enclosed front patio for the tenant's privacy, and all units have a larger than expected feel due to the pitched roofs. There are fourteen (14) on-site parking spaces and each unit gets a large, stand-up storage space in the communal area of the property.
This property offers an investment opportunity with excellent "pride of ownership" characteristics for solid long-term cashflow and minimal maintenance. The street and property are located in a true cottage-style and wooded location/feel. The property is located in close proximity to Google Campus, and all other major employment hubs via Highway 101 & 280.
Cap Rate: 4.82% NOI: $143,780 Livable Sq. Ft: 3,650
Built in 1952 12 units Lot Sq. Ft: 12,935