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$11,600,000
Est. payment /mo
0.84 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82040844
HOA Y/N No
Year Built 1963
Annual Tax Amount $136,300
Lot Size 0.845 Acres
Property Description
$800,000 PRICE REDUCTION - NEW PRICE $11,600,000. SELLER IS TARGETING A YEAR END CLOSING AND ENCOURAGES OFFERS. Offering Memorandum and DD File available. Element Apartment Homes is an extensively renovated 26 unit apartment community offering strong in place income with limited near term capital requirements. The property has undergone a comprehensive renovation program with more than $1.35 million in capital improvements. All units feature private in unit washer and dryer and upgraded electrical subpanels, providing enhanced capacity and tenant appeal. Additional capital improvements include roof replacement, seismic retrofit, dual pane windows, copper plumbing, extensive interior renovations, and more. The property continues to offer upside in existing rents, supported by strong rent growth across Sunnyvale. Sunnyvale apartment rents increased 7%+ year-over-year in Q2 2026, supporting continued rental upside. The property is positioned in the core of Silicon Valley with close proximity to Apple, Google, NVIDIA, LinkedIn and OpenAIs new Silicon Valley campus, placing it within one of the regions primary AI and technology employment corridors.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R3
Interior
Heating Electric
Fireplace No
Exterior
Carport Spaces 31
Roof Type Composition
Total Parking Spaces 12
Schools
School District Other
Others
Tax ID 16117013
Special Listing Condition Standard
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Listed by Mitchell Zurich Marcus & Millichap #01870648
NEARBY SCHOOL & BUSINESS
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