Sunnyvale Multifamily Investment
For Sale
$2,150,000
1560 Albatross Drive, Sunnyvale, CA 94087
Four-unit complex in desirable Ortega Park neighborhood, Sunnyvale.
Property Size2,778 SF
Days on Market197
Property Features for 1560 Albatross Drive
General Information
Standard status
Active
Size
2,778 SF
Property subtype
Quadruplex
Amenities
Security System
Window/Wall Unit
Electric
Ceiling Fan
Garbage Disposal
Oven - Electric
Oven Range - Electric
Refrigerator
Public Utilities, Individual Gas Meters, Wood
Building Details
Building Size
2,778 SF
Year Built
1964
Listing Agency:
Marcus & Millichap
(650) 224-7190
Listed By:
Cassandra Smillie Wyckoff · License #02208464
(650) 224-7190
Source:
Kw
Added: Feb 7
Changed: Aug 23
Last Checked: Aug 3 at 11:43AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This well-maintained four-unit multifamily complex presents an investment opportunity in Sunnyvale's Ortega Park neighborhood. The property features a mix of two-bedroom, one-and-one-half-bath units and one-bedroom, one-bath residences, each with functional floor plans and private patio space. Ample on-site parking is available. One unit is currently vacant, offering an owner-user opportunity to occupy and customize the space while benefiting from rental income from the other units. The property is near major Silicon Valley employment centers, including Apple, Google, LinkedIn, Amazon, Meta, and AMD, with access to Highways 85 & 280, Caltrain, retail amenities, parks, and the Sunnyvale, Cupertino, and Mountain View tech corridors. The property is located within the Cupertino Union School District and Fremont Union High School District, with nearby schools including Louis E. Stocklmeir Elementary School, Cupertino Middle School, and Fremont High School.
Key Highlights
- Rare owner‑user opportunity: Customize the vacant unit while enjoying rental income.
- Located in Sunnyvale's desirable Ortega Park neighborhood.
- Proximity to major Silicon Valley employers.
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
$63,725
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
2.96%
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%
$1,274,500
$1.3M
Cap Rate 7%
$910,357
$910.4K
Cap Rate 9%
$708,056
$708.1K
Market Conditions
NOI Build-Up for 2,778 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
$95.0K $34.20/SF
− Vacancy
−$4.0K −$1.43/SF
EGI
$91.0K $32.77/SF
− OpEx
−$27.3K −$9.83/SF
NOI
$63.7K $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%
$1,274,500
Cap Rate 7%
$910,357
Cap Rate 9%
$708,056
Alternative Uses
Best Use
Multifamily LT 5
$910.4K
$796.6K – $1.06M
NOI $63,725 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$838.8K
$734.0K – $978.7K
NOI $58,719 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,501 @ 7.0% cap · market cap 3.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
Business Placement
Demographics for 94087, CA
58,344
Population
21,429
Households
2.7
Avg Household Size
39
Median Age
77%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
8,840
Density / Sq Mi
$200,778
Median Household Income
$121,243
Median Earnings
$3,222
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit complex in desirable Ortega Park neighborhood, Sunnyvale.
Where is this quadplex located?
The property is located at 1560 Albatross Drive Sunnyvale, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Rare owner‑user opportunity: Customize the vacant unit while enjoying rental income.; Located in Sunnyvale's desirable Ortega Park neighborhood.; Proximity to major Silicon Valley employers.
