Sunnyvale Multifamily Investment
For Sale
$2,288,000
1248 Cortez Dr, Sunnyvale, CA 94086
Four updated units in prime Sunnyvale location near tech companies.
Property Size3,168 SF
Price / SF$722.22
Days on Market99
Property Features for 1248 Cortez Dr
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Investment
Building Details
Year Built
1962
Listing Agency:
(408) 861-8898
Listed By:
Katherine Yang
(408) 861-8898
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 31 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 Katherine Yang
Investment Insights
Based on property information with market context.
This investment property in Sunnyvale features 3,168 sq ft of living space and four updated units, each with two bedrooms and one bathroom. The L-Shaped kitchens are equipped with modern conveniences, including a 220 Volt Outlet, ceramic tile countertops, a powerful exhaust fan, garbage disposal, and a deep sink. Flooring options in the units include engineered wood, carpet, laminate, tile, and vinyl/linoleum. New hot water heaters were installed in late 2025. Located in a quiet neighborhood, the property offers convenient access to tech companies in Silicon Valley. Additional features include double pane windows and a walk-in closet in each unit. Each unit has assigned covered parking with overhead storage cabinets and one tandem parking space. The property is located within the Cupertino school district. This residential investment can also be owner-occupied with favorable residential loan benefits. The Sunnyvale location has a low vacancy rate and high-end professional tenants. The property is well-maintained with a high CAP Rate. The bike score is 88, making it very bikeable, the walk score is 68, making it somewhat walkable, and the transit score is 42, indicating some transit options.
Key Highlights
- Prime Sunnyvale location with easy commute to Silicon Valley tech companies.
- Four well‑maintained units, each with 2 bedrooms and 1 bathroom, offering a total of 3,168 sq ft of living space.
- Excellent investment opportunity with high CAP Rate, low vacancy rate, and high‑end professional tenants.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.3k | $34.20 |
| − Vacancy | −$4.5k | −$1.43 |
| EGI | $103.8k | $32.77 |
| − OpEx | −$31.1k | −$9.83 |
| NOI | $72.7k | $22.94 |
3,168 SF · lease $34.20/SF/yr · vacancy 4.18% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$908.4K – $1.21M
NOI $72,672 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$956.6K
$837.0K – $1.12M
NOI $66,963 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,364 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,410
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?
Quadplex - Four updated units in prime Sunnyvale location near tech companies.
Where is this quadplex located?
The property is located at 1248 Cortez Dr Sunnyvale, CA.
What is the asking price?
The asking price for this property is $2,288,000.
What are key features of this property?
This property features: Prime Sunnyvale location with easy commute to Silicon Valley tech companies.; Four well‑maintained units, each with 2 bedrooms and 1 bathroom, offering a total of 3,168 sq ft of living space.; Excellent investment opportunity with high CAP Rate, low vacancy rate, and high‑end professional tenants.
