25-Unit Apartment
For Sale
$8,495,000
280 W California Ave, Sunnyvale, CA 94086
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 Market94
Property Features for 280 W California Ave
General Information
Standard status
Active
Size
15,162 SF
Lot size
0.69 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
25
Amenities
private parking
on-site laundry
Incredible Value-Add Asset in Sunnyvale's Iconic Heritage District
Unprecedented Rent Growth
Desirable Unit Mix
Convenient Community Amenities
Abundant Lifestyle Amenities
Building Details
Year Built
1974
Tenancy
Multi
Listing Agency:
Palo Alto Office
(650) 391-1700
Listed By:
Rob Johnston · License #CA: 01853816
(650) 391-1744
Source:
Marcusmillichap
Added: Jul 22
Changed: Oct 21
Last Checked: Oct 23 at 3:26AM
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 Palo Alto Office
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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
Estimated NOI and Cap Rate
NOI / Yr
$320,482
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,409,640
$6.4M
Cap Rate 7%
$4,578,314
$4.6M
Cap Rate 9%
$3,560,911
$3.6M
Market Conditions
NOI Build-Up for 15,162 SF
Gross rent
$609.5K $40.20/SF
− Vacancy
−$26.8K −$1.77/SF
EGI
$582.7K $38.43/SF
− OpEx
−$262.2K −$17.29/SF
NOI
$320.5K $21.14/SF
Area
Sunnyvale, CA
Vacancy
4.40%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,409,640
Cap Rate 7%
$4,578,314
Cap Rate 9%
$3,560,911
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 authorities.
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Lease Details
25
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,388
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 Ave 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
