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Listed by Mitchell Zurich • Marcus & Millichap, DRE#01870648
$12,400,000
Est. payment /mo
3 Beds
2 Baths
19,230 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 19,230 sqft
Price per Sqft $644
MLS Listing ID ML82040844
Bedrooms 3
Full Baths 2
Year Built 1963
Lot Size 0.845 Acres
Property Sub-Type Five or More Units
Property Description
Element Apartment Homes is a turnkey, extensively renovated community offering strong in-place income with no near-term capital requirements. All units feature private in-unit washer and dryer and new electrical subpanels, providing enhanced capacity and tenant appeal. The property has undergone a comprehensive renovation, with 25 of 26 units completely upgraded. Improvements include dual-pane windows, modernized interiors, new exterior paint, siding and lighting, and a renovated courtyard with BBQ area. Major capital upgrades include a seismic retrofit and new roof, significantly reducing future capital needs. Located in the heart of Silicon Valley near major employers such as Apple, OpenAI Google, NVIDIA, and LinkedIn, the property benefits from strong underlying rental demand.
Location
State CA
County Santa Clara
Area Sunnyvale
Building/Complex Name Element Apartment Homes
Zoning R3
Interior
Heating Electric
Cooling Other
Exterior
Parking Features Covered Parking, Uncovered Parking
Pool Pool - In Ground
Utilities Available Individual Electric Meters
Roof Type Composition
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer Connected
Water Water On Site
Others
Restrictions None
Tax ID 161-17-013
Security Features None
Special Listing Condition Not Applicable
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