Property Detail

Description

Pride of ownership 5-unit apartment complex nestled in a quiet West Sunnyvale neighborhood of single family homes averaging $2.3M. Four 2-Bed/1-Bath units and one 1-Bed/1-Bath unit. The three upstairs units have covered outdoor space on the terrace. Ownership of over 30 years has meticulously maintained the property & installed copper plumbing, dual pane windows, gutters, a roof, & a steel beam structural retrofit, along with new modern steel & concrete pre-fabricated staircases & guardrails. Opportunity to increase income & value by updating the units with luxury finishes & upgrading the electrical service, enabling air conditioners, electric car chargers, & in-unit laundry. A pre-feasibility study by an ADU consultancy indicates that an ADU can be built pursuant to SB 1211 legislation (buyer to verify with City of Sunnyvale Planning Dept). Walking distance to shopping and public transportation on El Camino Real, 1.4 miles from Downtown Sunnyvale & Caltrain. Apple, Google, Amazon, & Meta are under 4 miles away. Stanford University is 8 miles away. The strong rent growth, shortage of housing units, proximity to tech employers, income upside, & ADU potential make 1002 W Iowa a great opportunity for both the cash flow & appreciation-minded investor. Offering memorandum available.