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$ 2,200,000
Est. payment /mo
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1002 W Iowa AVE Sunnyvale, CA 94086
7,501 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82015703
HOA Y/N No
Year Built 1958
Annual Tax Amount $25,696
Lot Size 7,501 Sqft
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 699 - Not Defined
Zoning R3
Interior
Heating Electric
Fireplace No
Exterior
Carport Spaces 4
Roof Type Composition,Shingle
Total Parking Spaces 2
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Sunnyvale
High Schools Homestead
School District Other
Others
Tax ID 16140036
Special Listing Condition Standard
Virtual Tour https://youtu.be/K2JSyBbIfhM
Listed by Ismael Benhamida Compass