14-Unit Studio Apartment
New
For Sale
$3,995,000
511 Walker Drive, Mountain View, CA 94043
Courtyard-style multifamily property with private outdoor spaces, on-site laundry, and storage for residents.
Property Size6,048 SF
Lot Size0.43 Acres
Price / SF$660.55
Days on Market7
Property Features for 511 Walker Drive
General Information
Standard status
Active
Size
6,048 SF
Total Parking Spaces
22
Lot size
0.43 Acres
Property subtype
General Commercial
Units
Unit Mix
14 x studio
Multifamily Units
14
Taxes and HOA fees
Annual Taxes
$46,182
Amenities
on-site laundry
private storage cabinets
private patio/deck
dual-pane windows
courtyard-style setting
mature landscaping
Window/Wall Unit
Flat
9 Parking Spaces. Carport.
Building Details
Year Built
1960
Construction
courtyard-style
Listing Agency:
Marcus & Millichap
(650) 391-1700
Listed By:
Jimmy Castellanos · License #02024152
Source:
Xome
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 22 at 5:03AM
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 at 511 Walker Drive in Mountain View, this 14-unit multifamily property contains approximately 6,048 square feet on an 18,900-square-foot lot. Built in 1960, the courtyard-oriented layout is surrounded by mature landscaping and provides a defined residential setting.
All units are studios, with dual-pane windows and a private patio or deck. Resident amenities include an on-site laundry facility and fourteen private storage cabinets. The property is within walking distance of Google headquarters and OpenAI’s new Mountain View campus, providing a location near major technology employers.
All units are studios, with dual-pane windows and a private patio or deck. Resident amenities include an on-site laundry facility and fourteen private storage cabinets. The property is within walking distance of Google headquarters and OpenAI’s new Mountain View campus, providing a location near major technology employers.
Key Highlights
- 14‑unit multifamily property with an all‑studio unit mix
- Approximately 6,048 square feet on an 18,900‑square‑foot lot
- Courtyard layout with mature landscaping
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
$114,960
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
2.88%
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%
$2,299,200
$2.3M
Cap Rate 7%
$1,642,286
$1.6M
Cap Rate 9%
$1,277,333
$1.3M
Market Conditions
NOI Build-Up for 6,048 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
$217.7K $36.00/SF
− Vacancy
−$8.7K −$1.44/SF
EGI
$209.0K $34.56/SF
− OpEx
−$94.1K −$15.55/SF
NOI
$115.0K $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%
$2,299,200
Cap Rate 7%
$1,642,286
Cap Rate 9%
$1,277,333
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $114,960 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.65M
$3.19M – $4.26M
NOI $255,589 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
818
Businesses Nearby
Explore this area
Business Placement
Demographics for 94043, CA
31,414
Population
14,756
Households
2.1
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
8.5 sq mi
ZIP Area
3,696
Density / Sq Mi
$180,781
Median Household Income
$113,861
Median Earnings
$2,965
Median Rent
$1,647,500
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 - Courtyard-style multifamily property with private outdoor spaces, on-site laundry, and storage for residents.
Where is this apartment building located?
The property is located at 511 Walker Drive Mountain View, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 14‑unit multifamily property with an all‑studio unit mix; Approximately 6,048 square feet on an 18,900‑square‑foot lot; Courtyard layout with mature landscaping
