- 16 Spacious Apartment Home -Like Units
- Unit Size: 660 SF to 1,188 SF - Large Units
- Very Reasonable Cost/SF: $438/SF - One of the Lowest Cost/SF for Multifamily Properties in the Silicon Valley/Peninsula
- Extremely Well-Constructed Asset (by Avery Construction) in Prime Sunnyvale Location
- First Time on Market in 40+ Years
- Balconies/Patios for All Units, Pool, Bike Storage Area
- Air-Conditioning (AC), Dishwasher, Soundproof Flooring in All Units
- Potential to Add In-Unit Washer/Dryers
- Dual Pane Windows, Copper Plumbing, New Roof, Exterior Paint, Water Heater, etc.
- Wood-Burning Fireplaces: 8 Units in 1244 Balboa
- 26 Total Parking Spaces
- 2 Enclosed Garages
- 13 Enclosed Carports
- 11 Outdoor Parking Spaces
- Building Area: 16,459 SF (per Santa Clara County)
- Cost/SF: $438/SF
- Lot Size: 24,021 SF
- Current Cap Rate: 2.39%
- Current GRM: 21.1
- Pro-Forma Cap Rate: 4.55%
- Pro-Forma GRM: 14.4
- AAA+ Sunnyvale Location
- Cul-de-Sac Location
- One of Few High-Quality Apartment Assets Built By Avery Construction
- Excellent Alternative to Smaller, High-Density New Construction Units
- Easy Access to El Camino Real, 85, 237, 101, and 280
- Potential to Reposition into Large Apartment Homes or Penthouse-Style Units
- Desirable Tenant Demographic in a Strong, High-Growth Rental Sub-Market
- Minutes to Mt. View & Sunnyvale Cal-Train Stations, and Easy Access to Apple HQ, LinkedIn, Google, HP, Microsoft, Yahoo!, Juniper, Motorola, and More
- Award-Winning Schools: Vargas Elementary, Sunnyvale Elementary, Homestead High School
- Huge Repositioning & Rental Upside. No Rent Control
