Multi-Family Apartment
For Sale
$12,500,000
620 Alamo CT, Mountain View, CA 94043
Apartment community on 0.96 acres offering one- and two-bedroom units, plus eight newly built ADUs with modern in-unit amenities.
Property Size20,505 SF
Lot Size0.96 Acres
Price / SF$609.61
Days on Market54
Property Features for 620 Alamo CT
General Information
Standard status
Active
Size
20,505 SF
Lot size
0.96 Acres
Property subtype
Commercial
Zoning
R3-1*
Building Details
Year Built
1974
Listing Agency:
Marcus & Millichap
(831) 417-1000
Listed By:
Adam S. Levin · License #(S):CA:01462752
(650) 391-1782
Source:
Steinbeckre
Added: Jul 17
Changed: Sep 8
Last Checked: Aug 19 at 1:08PM
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.
This apartment community on a large 0.96-acre parcel was originally constructed in 1974 and includes a gross building area of approximately 20,505 square feet. The property offers one- and two-bedroom floor plans for residents. In addition, eight newly constructed ADUs have been added, including six two-bedroom and two one-bedroom units.
The newer ADUs feature modern in-unit amenities such as washers and dryers, heating and AC, dishwashers, and recessed lighting, with solar panels installed on the newly constructed duplex roof. The property is located about 3.1 miles from the Googleplex, with Downtown Mountain View and the San Antonio Shopping Center in close proximity.
As presented, Alamo Park Apartments consists of a mix of original apartment units and newly built ADUs designed to modernize the housing offering within a Silicon Valley employment and amenity corridor.
The newer ADUs feature modern in-unit amenities such as washers and dryers, heating and AC, dishwashers, and recessed lighting, with solar panels installed on the newly constructed duplex roof. The property is located about 3.1 miles from the Googleplex, with Downtown Mountain View and the San Antonio Shopping Center in close proximity.
As presented, Alamo Park Apartments consists of a mix of original apartment units and newly built ADUs designed to modernize the housing offering within a Silicon Valley employment and amenity corridor.
Key Highlights
- 0.96‑acre apartment community originally constructed in 1974 with approximately 20,505 SF gross building area
- Tenant unit mix includes one- and two‑bedroom floor plans
- Eight newly constructed ADUs: six 2‑bedroom and two 1‑bedroom units
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
$389,759
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
3.12%
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%
$7,795,180
$7.8M
Cap Rate 7%
$5,567,986
$5.6M
Cap Rate 9%
$4,330,656
$4.3M
Market Conditions
NOI Build-Up for 20,505 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
$738.2K $36.00/SF
− Vacancy
−$29.5K −$1.44/SF
EGI
$708.7K $34.56/SF
− OpEx
−$318.9K −$15.55/SF
NOI
$389.8K $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%
$7,795,180
Cap Rate 7%
$5,567,986
Cap Rate 9%
$4,330,656
Alternative Uses
Best Use
Apartment 5plus
$5.57M
$4.87M – $6.50M
NOI $389,759 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.38M
$10.83M – $14.44M
NOI $866,543 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,351
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 - Apartment community on 0.96 acres offering one- and two-bedroom units, plus eight newly built ADUs with modern in-unit amenities.
Where is this apartment building located?
The property is located at 620 Alamo CT Mountain View, CA.
What is the asking price?
The asking price for this property is $12,500,000.
What are key features of this property?
This property features: 0.96‑acre apartment community originally constructed in 1974 with approximately 20,505 SF gross building area; Tenant unit mix includes one- and two‑bedroom floor plans; Eight newly constructed ADUs: six 2‑bedroom and two 1‑bedroom units
