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Listed by Ismael Benhamida • Compass
$2,200,000
Est. payment /mo
4,336 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,336 sqft
Price per Sqft $507
MLS Listing ID ML82015703
HOA Y/N No
Year Built 1958
Lot Size 7,500 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property 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.
Location
State CA
County Santa Clara
Interior
Heating Electric
Cooling Ceiling Fan(s)
Fireplace No
Window Features Double Pane Windows
Appliance Refrigerator
Laundry Coin Operated
Building
Lot Description Rectangular Lot
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