Garden-Style Apartment
New
For Sale
$5,790,000
527 Walker Drive, Mountain View, CA 94043
Seventeen units include one- and two-bedroom layouts, balconies, covered parking, laundry, and resident storage.
Property Size11,618 SF
Lot Size0.39 Acres
Price / SF$498.36
Days on Market7
Property Features for 527 Walker Drive
General Information
Standard status
Active
Size
11,618 SF
Lot size
0.39 Acres
Property subtype
General Commercial
Additional Details
Public Transit
Yes
Multifamily Units
17
Taxes and HOA fees
Annual Taxes
$66,932
Amenities
private balconies
covered parking
on-site laundry
resident storage
Window/Wall Unit
Flat
Carport.
Building Details
Year Built
1959
Construction
garden-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 4:51AM
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.
Built in 1959, this garden-style multifamily property contains 17 units across approximately 11,618 square feet on a 16,800-square-foot lot. The unit mix includes one- and two-bedroom residences, with private balconies, covered parking, on-site laundry, and resident storage. Units feature window/wall air-conditioning units, and the property includes carport improvements.
The property is located at 527 Walker Drive in Mountain View, within walking distance of Google HQ and OpenAI’s new Mountain View campus. Downtown Mountain View, Castro Street, and Caltrain are also nearby, providing access to retail, dining, transportation, and major employment centers.
The property is located at 527 Walker Drive in Mountain View, within walking distance of Google HQ and OpenAI’s new Mountain View campus. Downtown Mountain View, Castro Street, and Caltrain are also nearby, providing access to retail, dining, transportation, and major employment centers.
Key Highlights
- 17‑unit multifamily property with approximately 11,618 square feet of building area
- 1- and 2‑bedroom unit mix
- Situated on a 16,800‑square‑foot lot
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
$220,835
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
3.81%
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%
$4,416,700
$4.4M
Cap Rate 7%
$3,154,786
$3.2M
Cap Rate 9%
$2,453,722
$2.5M
Market Conditions
NOI Build-Up for 11,618 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
$418.2K $36.00/SF
− Vacancy
−$16.7K −$1.44/SF
EGI
$401.5K $34.56/SF
− OpEx
−$180.7K −$15.55/SF
NOI
$220.8K $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%
$4,416,700
Cap Rate 7%
$3,154,786
Cap Rate 9%
$2,453,722
Alternative Uses
Best Use
Apartment 5plus
$3.15M
$2.76M – $3.68M
NOI $220,835 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.01M
$6.14M – $8.18M
NOI $490,978 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17
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 - Seventeen units include one- and two-bedroom layouts, balconies, covered parking, laundry, and resident storage.
Where is this apartment building located?
The property is located at 527 Walker Drive Mountain View, CA.
What is the asking price?
The asking price for this property is $5,790,000.
What are key features of this property?
This property features: 17‑unit multifamily property with approximately 11,618 square feet of building area; 1- and 2‑bedroom unit mix; Situated on a 16,800‑square‑foot lot
