Mountain View Multifamily Investment
For Sale
$2,750,000
S Shoreline, Mountain View, CA 94041
Centrally located 8-unit apartment community near major employers.
Property Size4,643 SF
Days on Market82
Property Features for S Shoreline
General Information
Standard status
Active
Size
4,643 SF
Property subtype
Investment
Lease Term
12 months
Building Details
Building Size
4,643 SF
Year Built
1956
Listing Agency:
Ritter Associates
(408) 482-2121
Listed By:
Dan Ritter · License #00873502
(408) 482-2121
Source:
Elliman
Added: May 20
Changed: Aug 7
Last Checked: Aug 8 at 12:32PM
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 Ritter Associates
Investment Insights
Based on property information with market context.
Located in Mountain View, California, 228 S Shoreline Blvd is an 8-unit multi-family apartment community. The property is comprised of three unique buildings, each with a different street address: 228 S Shoreline Blvd is a free standing cottage, 230 S Shoreline Blvd is a two story four unit apartment building over a carport, and 232, 234 and 236 S Shoreline Blvd is a three unit apartment building that faces S Shoreline Blvd. The unit mix consists of one 2 bedroom 1 bath unit, six 1 bedroom 1 bath units, and one 1 bedroom 1 bath penthouse unit. Each unit is separately metered for gas and electric. On-site amenities include laundry and carport parking. The property is located near major employers, such as Google, Intuit, Synopsys, El Camino Health and Microsoft. It is also located within a short walk to the Mountain View Transit Center, Castro Street, Mountain View Public Library and Eagle Park. The property has a bike score of 99, making it a biker's paradise. The walk score is 67, indicating it is somewhat walkable, and the transit score is 46, indicating some transit options are available.
Key Highlights
- Prime location near major employers like Google, Intuit, Synopsys, El Camino Health, and Microsoft.
- Close proximity to Mountain View Transit Center, Castro Street, Mountain View Public Library, and Eagle Park.
- High bike score (99) - a true 'Biker's Paradise'.**
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
$88,254
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
3.21%
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%
$1,765,080
$1.8M
Cap Rate 7%
$1,260,771
$1.3M
Cap Rate 9%
$980,600
$980.6K
Market Conditions
NOI Build-Up for 4,643 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
$167.1K $36.00/SF
− Vacancy
−$6.7K −$1.44/SF
EGI
$160.5K $34.56/SF
− OpEx
−$72.2K −$15.55/SF
NOI
$88.3K $19.01/SF
Area
Santa Clara County, CA
Vacancy
4.00%
Lease Rate
$36.00 /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%
$1,765,080
Cap Rate 7%
$1,260,771
Cap Rate 9%
$980,600
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,254 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,214 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 94041, CA
15,604
Population
7,383
Households
2.1
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
9,753
Density / Sq Mi
$168,980
Median Household Income
$96,520
Median Earnings
$2,927
Median Rent
$2,000,001
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 - Centrally located 8-unit apartment community near major employers.
Where is this apartment building located?
The property is located at S Shoreline Mountain View, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Prime location near major employers like Google, Intuit, Synopsys, El Camino Health, and Microsoft.; Close proximity to Mountain View Transit Center, Castro Street, Mountain View Public Library, and Eagle Park.; High bike score (99) - a true 'Biker's Paradise'.**
