537 Mariposa Avenue
Mountain View, CA 94041
Sq. Feet 12,935
The Floriana Apartments are an incredible 68-unit apartment investment opportunity located at 126 West Ahwanee Avenue in highly desirable and rapidly growing Sunnyvale, California.
The Floriana has a gross livable area of 37,136 total square feet providing its tenants a spacious average living area of 546 square feet per one-bedroom/one-bath unit. Each unit at The Floriana has full access to a community laundry room, an off-street numbered parking spot, and community pool. Sunnyvale median rents skyrocketed over 13% in 2013 and are projected to continue on through 2014-2015 (Marcus & Millichap Research Services), The Floriana Apartments would be a great long-term hold for any potential investor.
Sunnyvale (population 140,095) is one of the major cities that make up the Silicon Valley, and is the seventh most populous city in the San Francisco Bay Area. Sunnyvale is bordered by Cupertino to the south, Santa Clara to the east, Moffett Federal Airfield to the north, and Google's home of Mountain View to the immediate northwest. As part of the Silicon Valley, high-tech companies such as Juniper Networks, Fortinet, AMD, NetApp, Spansion, Yahoo!, AppliedMicro and Ariba are headquartered there.
Cap Rate: 3.74% NOI: $615,595 Livable Sq. Ft: 37,136
Built in 1964 68 units Lot Sq. Ft: 83,940