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748 Carmel Ave 6 Unit Apartment Building $2,028,000 ($338,000/Unit) 4.91% Cap Rate Sunnyvale, CA 94085
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present 748 Carmel Avenue, a rare six-unit apartment complex in one of Sunnyvales most desirable rental pockets. The property features four spacious 1-bedroom/1-bathroom units and two large 2-bedroom/1-bathroom units, offering a balanced unit mix for both stability and rent growth. With a current CAP rate of 4.91% and a 13.29 GRM, the property provides strong in-place income with additional upside through capital improvements and management efficiencies. Located just minutes from Downtown Sunnyvale, Apple Park, major employers, and top schools, 748 Carmel Avenue is an ideal opportunity for investors seeking a well-maintained asset in a premier Silicon Valley location.
PROPERTY FACTS
| Price | $2,028,000 | Building Class | C |
| Price Per Unit | $338,000 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 3,708 SF |
| Cap Rate | 4.91% | Average Occupancy | 95% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, Sunnyvale | ||
| Price | $2,028,000 |
| Price Per Unit | $338,000 |
| Sale Type | Investment |
| Cap Rate | 4.91% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,708 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3, Sunnyvale |
AMENITIES
SITE AMENITIES
- Laundry Facilities
1 1
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 205-16-002 | Improvements Assessment | $735,512 |
| Land Assessment | $931,650 | Total Assessment | $1,667,162 |
PROPERTY TAXES
Parcel Number
205-16-002
Land Assessment
$931,650
Improvements Assessment
$735,512
Total Assessment
$1,667,162
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748 Carmel Ave
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