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Element Apartment Homes 1270 Coronado Dr 26 Unit Apartment Building $12,400,000 ($476,923/Unit) 4.80% Cap Rate Sunnyvale, CA 94086
Investment Highlights
- Extensively renovated asset with no near-term capital improvements required
- New electrical subpanels installed in every unit
- Significant capital upgrades completed, including new roof, seismic retrofit, and added ADUs enhancing income potential
- All units feature private in-unit washer & dryer
- 25 of 26 units fully renovated with modern interiors and dual-pane windows
Executive Summary
Element Apartment Homes is a turnkey, extensively renovated community offering strong in-place income with minimal near-term capital requirements. All units feature private in-unit washer and dryer and new electrical subpanels, providing enhanced capacity and tenant appeal.
Located in the heart of Silicon Valley near major employers such as Apple, Google, NVIDIA, and LinkedIn, the property benefits from strong underlying rental demand.
The property has undergone a comprehensive renovation, with 25 of 26 units 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. Two ADUs and updated signage further enhance income potential and curb appeal.
Located in the heart of Silicon Valley near major employers such as Apple, Google, NVIDIA, and LinkedIn, the property benefits from strong underlying rental demand.
The property has undergone a comprehensive renovation, with 25 of 26 units 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. Two ADUs and updated signage further enhance income potential and curb appeal.
Property Facts
| Price | $12,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $476,923 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.84 AC |
| Cap Rate | 4.80% | Building Size | 19,230 SF |
| Gross Rent Multiplier | 14 | No. Stories | 2 |
| No. Units | 26 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.98/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $12,400,000 |
| Price Per Unit | $476,923 |
| Sale Type | Investment |
| Cap Rate | 4.80% |
| Gross Rent Multiplier | 14 |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 19,230 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.98/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Kitchen
- Range
Site Amenities
- Pool
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 260 - 690 |
| 2+1 | 10 | - | 890 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 161-17-013 | Improvements Assessment | $2,920,341 |
| Land Assessment | $8,419,935 | Total Assessment | $11,340,276 |
Property Taxes
Parcel Number
161-17-013
Land Assessment
$8,419,935
Improvements Assessment
$2,920,341
Total Assessment
$11,340,276
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Element Apartment Homes | 1270 Coronado Dr
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