Multifamily

1367 & 1371 South Wolfe Road

1367-1371 S Wolfe Rd, Sunnyvale, CA 94087

Listing Price: $4,200,000

Cap Rate
3.21%
Number of Units
8
GRM
19.44
Occupancy
97.00%
Price/Unit
$525,000
Price/Gross SF
$584.14
Gross SF
7,190

Investment Overview

1367 and 1371 South Wolfe Road is an apartment community consisting of two separate fourplex properties, situated on adjacent parcels, in highly desirable and rapidly growing Sunnyvale, California. Built in 1963, each fourplex has a gross building area of 3,595 square feet and a lot size of 7,140 square feet, for a combined total gross building area of 7,190 square feet and lot size of 14,280 square feet for 1367 and 1371 South Wolfe Road. Each fourplex has one three-bedroom/two-bathroom townhouse style owner's unit with a vaulted ceiling, fireplace, and private yard, two two-bedroom/one-and-a-half-bathroom townhouse units with large private backyards, and one studio unit. The current owner and their family have owned the property for over 50 years and rents are significantly below market providing the new owner with significant income upside.

1367 and 1371 South Wolfe Road is located less than one mile from Apple's spaceship campus in Cupertino. This new campus is a great example of how the South Bay market is poised for tremendous near-term upside in commercial and residential rent growth. Additionally, the subject property has elementary and middle schools located in the nationally ranked Cupertino Union School District. The subject property feeds into Louis E. Stocklmeir Elementary School (2012 API=974), Cupertino Middle School (2012 API=934), and Fremont High School (2012 API=767).

Sunnyvale is a major city in the Silicon Valley and the seventh most populous city in the San Francisco Bay Area. Many of the largest technology companies have operations in and around Sunnyvale including Google, Apple, LinkedIn, Amazon, Microsoft, and Yahoo. The robust high-tech job growth, shortage of housing units, rent growth, and proximity to large Silicon Valley employers make 1367 and 1371 South Wolfe Road a great opportunity for both the cash flow and appreciation minded investor.

Investment Highlights

  • Cupertino Schools
  • First Time On The Market In Over 50 years
  • One Mile From Apple Headquarters
  • Incredible Repositioning Opportunity With Significant Rental Income And Value Upside
  • Highly Desirable Unit Mix- Each Fourplex Has Three Townhouse Units

Exclusively Listed By

Multifamily

1367 & 1371 South Wolfe Road

Listing Price: $4,200,000

Cap Rate
3.21%
Number of Units
8
GRM
19.44
Occupancy
97.00%
Price/Unit
$525,000
Price/Gross SF
$584.14
Gross SF
7,190

Investment Highlights

  • Cupertino Schools
  • First Time On The Market In Over 50 years
  • One Mile From Apple Headquarters
  • Incredible Repositioning Opportunity With Significant Rental Income And Value Upside
  • Highly Desirable Unit Mix- Each Fourplex Has Three Townhouse Units

Investment Overview

1367 and 1371 South Wolfe Road is an apartment community consisting of two separate fourplex properties, situated on adjacent parcels, in highly desirable and rapidly growing Sunnyvale, California. Built in 1963, each fourplex has a gross building area of 3,595 square feet and a lot size of 7,140 square feet, for a combined total gross building area of 7,190 square feet and lot size of 14,280 square feet for 1367 and 1371 South Wolfe Road. Each fourplex has one three-bedroom/two-bathroom townhouse style owner's unit with a vaulted ceiling, fireplace, and private yard, two two-bedroom/one-and-a-half-bathroom townhouse units with large private backyards, and one studio unit. The current owner and their family have owned the property for over 50 years and rents are significantly below market providing the new owner with significant income upside.

1367 and 1371 South Wolfe Road is located less than one mile from Apple's spaceship campus in Cupertino. This new campus is a great example of how the South Bay market is poised for tremendous near-term upside in commercial and residential rent growth. Additionally, the subject property has elementary and middle schools located in the nationally ranked Cupertino Union School District. The subject property feeds into Louis E. Stocklmeir Elementary School (2012 API=974), Cupertino Middle School (2012 API=934), and Fremont High School (2012 API=767).

Sunnyvale is a major city in the Silicon Valley and the seventh most populous city in the San Francisco Bay Area. Many of the largest technology companies have operations in and around Sunnyvale including Google, Apple, LinkedIn, Amazon, Microsoft, and Yahoo. The robust high-tech job growth, shortage of housing units, rent growth, and proximity to large Silicon Valley employers make 1367 and 1371 South Wolfe Road a great opportunity for both the cash flow and appreciation minded investor.

Exclusively Listed By

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