Mountain View Multifamily Investment
For Sale
$8,928,000
1920 Latham Street, Mountain View, CA 94040
23-unit multifamily property in prime Mountain View location.
Property Size22,222 SF
Price / SF$401.76
Days on Market195
Property Features for 1920 Latham Street
General Information
Standard status
Active
Size
22,222 SF
Property subtype
Commercial
Amenities
Coin Operated Laundry
Electric Heating
Hardwood Flooring
Off Street Parking
Shingle Roof
Wall Furnace Heating
Building Details
Year Built
1961
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
EYMON BINESH · License #02060059
Source:
Corcoran
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
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.
Located in Mountain View, California, 1920 Latham Street presents a multifamily investment opportunity with 23 units. The property features a unit mix of 15 two-bedroom and 8 one-bedroom residences. The average unit size is nearly 1,000 square feet. Amenities include gated access, on-site parking, a swimming pool, on-site laundry facilities, and private patios or balconies for every unit. The property is positioned near major tech employers, retail, and transit corridors.
Key Highlights
- Located in the heart of Mountain View, California, a high‑demand rental market in Silicon Valley.
- Desirable unit mix of 15 two‑bedroom and 8 one‑bedroom residences.
- Spacious layouts with an average unit size of nearly 1,000 square feet.
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
$422,396
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
4.73%
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%
$8,447,920
$8.4M
Cap Rate 7%
$6,034,229
$6.0M
Cap Rate 9%
$4,693,289
$4.7M
Market Conditions
NOI Build-Up for 22,222 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
$800.0K $36.00/SF
− Vacancy
−$32.0K −$1.44/SF
EGI
$768.0K $34.56/SF
− OpEx
−$345.6K −$15.55/SF
NOI
$422.4K $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%
$8,447,920
Cap Rate 7%
$6,034,229
Cap Rate 9%
$4,693,289
Alternative Uses
Best Use
Apartment 5plus
$6.03M
$5.28M – $7.04M
NOI $422,396 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.42M
$11.74M – $15.65M
NOI $939,103 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 94040, CA
36,501
Population
16,963
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
9,865
Density / Sq Mi
$184,494
Median Household Income
$120,047
Median Earnings
$3,017
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 - 23-unit multifamily property in prime Mountain View location.
Where is this apartment building located?
The property is located at 1920 Latham Street Mountain View, CA.
What is the asking price?
The asking price for this property is $8,928,000.
What are key features of this property?
This property features: Located in the heart of Mountain View, California, a high‑demand rental market in Silicon Valley.; Desirable unit mix of 15 two‑bedroom and 8 one‑bedroom residences.; Spacious layouts with an average unit size of nearly 1,000 square feet.
