25-Unit Apartment
280 W California Avenue Sunnyvale, CA 94086
New
For Sale
$8,495,000
Value-add multifamily asset offering a mix of one-, two-bedroom and studio units with private parking and on-site laundry.
Property Size15,162 SF
Lot Size0.69 Acres
Price / SF$560.28
Days on Market3
Property Features for 280 W California Avenue
General Information
- Standard status
- Active
- Size
- 15,162 SF
- Lot size
- 0.69 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1974
Listing Agency:
Marcus & Millichap
(510) 304-8077
Listed By:
Robert Johnston · License #01853816
(510) 304-8077
Source:
Exitrealty
Added: Jul 21
Changed: Jul 23
Last Checked: Jul 23 at 5:42AM
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.
El Portal Apartments is a 25-unit value-add apartment building originally constructed in 1974. The property offers a mix of studio, one-bedroom, and two-bedroom floor plans, along with private parking and on-site laundry for residents.
Located in Sunnyvale’s Heritage District, the building is described as walkable and positioned near restaurants, retail, entertainment, and the Sunnyvale Caltrain Station.
The asset is situated on a 30,155 square foot parcel with approximately 15,162 square feet of gross building area, supporting a straightforward multifamily configuration for income-focused ownership.
Located in Sunnyvale’s Heritage District, the building is described as walkable and positioned near restaurants, retail, entertainment, and the Sunnyvale Caltrain Station.
The asset is situated on a 30,155 square foot parcel with approximately 15,162 square feet of gross building area, supporting a straightforward multifamily configuration for income-focused ownership.
Key Highlights
- 25‑unit multifamily property at 280 W California Ave in Sunnyvale, CA, built in 1974
- On a 30,155 SF parcel with approximately 15,162 SF gross building area
- Unit mix includes studio, 1‑bedroom, and 2‑bedroom floor plans
Financial Insights For Apartment 5plus
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 | $609.5k | $40.20 |
| − Vacancy | −$26.8k | −$1.77 |
| EGI | $582.7k | $38.43 |
| − OpEx | −$262.2k | −$17.29 |
| NOI | $320.5k | $21.14 |
15,162 SF · lease $40.20/SF/yr · vacancy 4.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,482 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.59M
$5.76M – $7.69M
NOI $461,199 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Value-add multifamily asset offering a mix of one-, two-bedroom and studio units with private parking and on-site laundry.
Where is this apartment building located?
The property is located at 280 W California Avenue Sunnyvale, CA.
What is the asking price?
The asking price for this property is $8,495,000.
What are key features of this property?
This property features: 25‑unit multifamily property at 280 W California Ave in Sunnyvale, CA, built in 1974; On a 30,155 SF parcel with approximately 15,162 SF gross building area; Unit mix includes studio, 1‑bedroom, and 2‑bedroom floor plans
