622 Grand Fir Avenue, Sunnyvale, CA 94086
List Price: $2.68M
Listing Status: Hold
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1959
Lot Size: 10,900 sq ft
Annual Property Tax: $31,278
MLS Number: ML82061216
About This Property
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.
Listing provided by: Jimmy Castellanos DRE #02024152 (650) 391-1700 jimmy.castellanos@marcusmillichap.com, Marcus & Millichap
Source: CRMLS, MLS #: ML82061216
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.