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Listed by Jimmy Castellanos • Marcus & Millichap • 650-391-1700
$ 2,680,000
Est. payment /mo
New
622 Grand Fir Avenue Sunnyvale, CA 94086
5,217 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,217 sqft
Price per Sqft $513
MLS Listing ID ML82061216
HOA Y/N No
Year Built 1959
Lot Size 0.250 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Rare 7-unit apartment investment opportunity in Sunnyvale, offered at $382,857 per unit. The fully occupied property features an attractive unit mix of one three-bedroom/two-bathroom, two two-bedroom/one-bathroom, and four one-bedroom/one-bathroom units, totaling 5,217 square feet on a 0.25-acre lot. The well-maintained 1959-built property features dual-pane windows throughout and updated Siemens electrical sub-panels. Long-term ownership and current rents provide significant rental upside, with no citywide rent control ordinance currently in place. Sunnyvale's strong rental market has experienced nearly 10% year-over-year rent growth, supporting continued income growth. The property offers a 6.92% pro forma cap rate based on projected market rents. This offering provides an opportunity to acquire a fully occupied Sunnyvale multifamily asset with stable in-place income and a clear path to increased cash flow through unit turnover, consistent rent increases, and continued market rent growth.
Location
State CA
County Santa Clara
Interior
Heating Forced Air, Wall Furnace
Fireplace No
Window Features Double Pane Windows
Laundry Coin Operated
Building
Water Public
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