622 Grand Fir Avenue, Sunnyvale, CA 94086
- $2,680,000
- List Price
- $2,680,000
- Status
- ACTIVE
- MLS#
- ML82061216
- Year Built
- 1959
- Lot Size
- 10,900
- Acres
- 0.25
- Days on Market
- 1
- Property Type
- Commercial
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.
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Additional Information
- Taxes
- $31,278
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Roof
- Composition, Shingle
- Water
- Public
- School District
- Other
- Elementary School
- Other
- Middle School
- Sunnyvale
- High School
- Fremont
- Attached Structure
- Detached
- Gross Scheduled Income
- $160,620
Listing courtesy of Listing Agent: Jimmy Castellanos (jimmy.castellanos@marcusmillichap.com) from Listing Office: Marcus & Millichap.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.