Remodeled Fourplex Income
For Sale
$2,900,000
Pending
1026 Valerian Way, Sunnyvale, CA 94086
Newly remodeled fourplex with updated kitchens, dual-pane windows, and multiple units featuring on-site laundry and covered parking.
Property Size4,300 SF
Days on Market18
Property Features for 1026 Valerian Way
General Information
Standard status
Pending
Size
4,300 SF
Property subtype
Investment
Building Details
Building Size
4,300 SF
Year Built
1969
Stories
2
Units
4
Listing Agency:
Keller Williams Thrive
(650) 823-8003
Listed By:
Renna Shee · License #01906557
(650) 823-8003
Source:
Elliman
Added: Jul 25
Changed: Aug 8
Last Checked: Aug 11 at 7:06AM
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 Keller Williams Thrive
Investment Insights
Based on property information with market context.
This newly remodeled fourplex includes four residential units with hardwood floors and dual-pane windows throughout. Heating and A/C provide year-round comfort in each residence, and the updated kitchens feature stainless steel appliances, quartz countertops, and extensive cabinetry. Unit layouts vary, including the largest unit with 3 bedrooms and 2 bathrooms plus an elongated rear patio, while two upper-level units each offer 2 bedrooms and 1 bathroom. A laundry room includes a washer, dryer, and sink, and each bedroom features a spacious closet.
The property also features a large rear parking lot with covered parking and more than 10 uncovered spaces. The home is located within about 3 miles of Downtown Sunnyvale/Caltrain, with access to major roadways including Hwy 101, El Camino Real, and Lawrence Expy, and it is near shopping, parks, and Sunken Gardens Golf Course.
The property also features a large rear parking lot with covered parking and more than 10 uncovered spaces. The home is located within about 3 miles of Downtown Sunnyvale/Caltrain, with access to major roadways including Hwy 101, El Camino Real, and Lawrence Expy, and it is near shopping, parks, and Sunken Gardens Golf Course.
Key Highlights
- Newly remodeled 4‑plex built in 1969 with multiple updated interiors
- Unit mix: largest unit has 3BR/2BA plus an elongated rear patio; other units include 2BR/1.5BA and two 2BR/1BA units
- Hardwood floors throughout and dual‑pane windows in each residence for natural light
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
$98,639
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
3.40%
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%
$1,972,780
$2.0M
Cap Rate 7%
$1,409,129
$1.4M
Cap Rate 9%
$1,095,989
$1.1M
Market Conditions
NOI Build-Up for 4,300 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
$147.1K $34.20/SF
− Vacancy
−$6.1K −$1.43/SF
EGI
$140.9K $32.77/SF
− OpEx
−$42.3K −$9.83/SF
NOI
$98.6K $22.94/SF
Area
Sunnyvale, CA
Vacancy
4.18%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,972,780
Cap Rate 7%
$1,409,129
Cap Rate 9%
$1,095,989
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.64M
NOI $98,639 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.51M
NOI $90,890 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,798 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
843
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 - Newly remodeled fourplex with updated kitchens, dual-pane windows, and multiple units featuring on-site laundry and covered parking.
Where is this quadplex located?
The property is located at 1026 Valerian Way Sunnyvale, CA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Newly remodeled 4‑plex built in 1969 with multiple updated interiors; Unit mix: largest unit has 3BR/2BA plus an elongated rear patio; other units include 2BR/1.5BA and two 2BR/1BA units; Hardwood floors throughout and dual‑pane windows in each residence for natural light
