1002 W Iowa AVE new Save Request In-Person Tour Request Virtual Tour
Sunnyvale,CA 94086
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,336 sqft
Price per Sqft $507
MLS Listing ID ML82015703
Bedrooms 3
Full Baths 2
Year Built 1958
Lot Size 7,500 Sqft
Property Sub-Type Five or More Units
Source MLSListings, Inc.
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
Area Sunnyvale
Zoning R3
Rooms
Kitchen Appliances - Vary by Unit,Cooktop - Gas,Countertop - Granite,Countertop - Stone,Dishwasher,Microwave,Oven Range,Refrigerator
Interior
Heating Electric
Cooling Ceiling Fan
Laundry Coin Operated,Washer / Dryer
Exterior
Parking Features Carport ,Common Parking Area,No Garage,Off-Street Parking
Garage Spaces 2.0
Utilities Available Individual Electric Meters
View None
Roof Type Composition,Shingle
Building
Lot Description Grade - Mostly Level,Regular
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Tax ID 161-40-036
Special Listing Condition Not Applicable
Virtual Tour https://youtu.be/K2JSyBbIfhM