Multifamily Apartment
For Sale
$3,888,000
1212 W McKinley AVE, Sunnyvale, CA 94086
Built in 1964, this 10-unit apartment building offers eight one-bedroom units and two two-bedroom units.
Property Size7,656 SF
Lot Size0.34 Acres
Days on Market79
Property Features for 1212 W McKinley AVE
General Information
Standard status
Active
Size
7,656 SF
Lot size
0.34 Acres
Property subtype
FiveOrMoreUnits
Additional Details
Multifamily Units
10
Building Details
Building Size
7,656 SF
Year Built
1964
Listing Agency:
CBRE, Inc.
Listed By:
Adam Foley · License #02144332
(408) 893-8063
Source:
Johnpaye
Added: Jun 17
Changed: Sep 3
Last Checked: Aug 15 at 6:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE, Inc.
Investment Insights
Based on property information with market context.
1212 W McKinley Avenue is a multifamily apartment building constructed in 1964 on a 0.34-acre lot, comprising ten (10) units. The unit mix includes eight (8) one-bedroom/one-bathroom floorplans and two (2) two-bedroom/one-bathroom floorplans, providing a straightforward rental composition for an investor or operator.
The property is positioned near major access routes including Highway 101, Highway 237, Highway 85, and El Camino Real. Nearby employment and destinations referenced in the offering include Apple, Google, LinkedIn, AMD, Lockheed Martin Space, NASA Ames Research Center, and the broader Moffett Park employment base.
Additional convenience is described as within walking distance to Downtown Sunnyvale’s Murphy Avenue dining and retail district, the Sunnyvale Caltrain Station, and Whole Foods, with additional shopping at Sunnyvale Town Center.
The property is positioned near major access routes including Highway 101, Highway 237, Highway 85, and El Camino Real. Nearby employment and destinations referenced in the offering include Apple, Google, LinkedIn, AMD, Lockheed Martin Space, NASA Ames Research Center, and the broader Moffett Park employment base.
Additional convenience is described as within walking distance to Downtown Sunnyvale’s Murphy Avenue dining and retail district, the Sunnyvale Caltrain Station, and Whole Foods, with additional shopping at Sunnyvale Town Center.
Key Highlights
- 10‑unit multifamily building built in 1964 on a 0.34‑acre lot
- Unit mix includes eight 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units
- Near Highways 101, 237, 85, and El Camino Real
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$161,826
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,236,520
$3.2M
Cap Rate 7%
$2,311,800
$2.3M
Cap Rate 9%
$1,798,067
$1.8M
Market Conditions
NOI Build-Up for 7,656 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$307.8K $40.20/SF
− Vacancy
−$13.5K −$1.77/SF
EGI
$294.2K $38.43/SF
− OpEx
−$132.4K −$17.29/SF
NOI
$161.8K $21.14/SF
Area
Sunnyvale, CA
Vacancy
4.40%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,236,520
Cap Rate 7%
$2,311,800
Cap Rate 9%
$1,798,067
Alternative Uses
Best Use
Apartment 5plus
$2.31M
$2.02M – $2.70M
NOI $161,826 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.91M – $3.88M
NOI $232,881 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,682
Businesses Nearby
Explore this area
Business Placement
Demographics for 94086, CA
50,175
Population
21,264
Households
2.4
Avg Household Size
34
Median Age
70%
College-Educated
94%
High-School Grad
4.4 sq mi
ZIP Area
11,403
Density / Sq Mi
$180,217
Median Household Income
$113,343
Median Earnings
$2,923
Median Rent
$1,784,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1964, this 10-unit apartment building offers eight one-bedroom units and two two-bedroom units.
Where is this apartment building located?
The property is located at 1212 W McKinley AVE Sunnyvale, CA.
What is the asking price?
The asking price for this property is $3,888,000.
What are key features of this property?
This property features: 10‑unit multifamily building built in 1964 on a 0.34‑acre lot; Unit mix includes eight 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units; Near Highways 101, 237, 85, and El Camino Real
