Seven-Unit Apartment
New
For Sale
$2,680,000
622 Grand Fir Ave, Sunnyvale, CA 94086
Multifamily property with varied floor plans, individually metered utilities, and carport parking in Sunnyvale.
Property Size5,217 SF
Days on Market2
Property Features for 622 Grand Fir Ave
General Information
Standard status
Active
Size
5,217 SF
Property subtype
Multifamily
Occupancy
100%
Amenities
Located within Sunnyvale's core residential fabric, near downtown Sunnyvale and the Sunnyvale Caltrain Station
Sunnyvale apartment rents have increased approximately 7%–8% year over year, reflecting strong rental demand and continued market momentum
Minutes from major Silicon Valley employers including LinkedIn, Apple, NVIDIA, AMD, Juniper Networks, and Intuitive Surgical
Building Details
Building Size
5,217 SF
Units
7
Listing Agency:
Marcus & Millichap
Listed By:
Jimmy Castellanos · License #License(s): CA: 02024152
(650) 391-1777
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 16 at 1:58PM
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 seven-unit apartment property in Sunnyvale includes 5,217 square feet of building area on an approximately 10,900-square-foot lot. The unit mix comprises four one-bedroom apartments, two two-bedroom apartments, and one three-bedroom apartment. Built in 1959, the property also features individually metered utilities and carport parking.
The property is located near Downtown Sunnyvale, Caltrain, shopping, dining, neighborhood amenities, and major Silicon Valley employment centers. Its central Sunnyvale setting provides access throughout Silicon Valley while placing residents near established employment and transportation destinations.
Ownership has remained with the same family since the 1980s, and the property has strong in-place occupancy. The combination of multiple floor plans, separate utility metering, and on-site carport parking supports a practical multifamily configuration.
The property is located near Downtown Sunnyvale, Caltrain, shopping, dining, neighborhood amenities, and major Silicon Valley employment centers. Its central Sunnyvale setting provides access throughout Silicon Valley while placing residents near established employment and transportation destinations.
Ownership has remained with the same family since the 1980s, and the property has strong in-place occupancy. The combination of multiple floor plans, separate utility metering, and on-site carport parking supports a practical multifamily configuration.
Key Highlights
- Seven‑unit apartment property built in 1959
- 5,217 square feet of building area on an approximately 10,900‑square‑foot lot
- Unit mix includes four one‑bedroom, two two‑bedroom, and one three‑bedroom apartments
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
$110,273
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
4.11%
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%
$2,205,460
$2.2M
Cap Rate 7%
$1,575,329
$1.6M
Cap Rate 9%
$1,225,256
$1.2M
Market Conditions
NOI Build-Up for 5,217 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
$209.7K $40.20/SF
− Vacancy
−$9.2K −$1.77/SF
EGI
$200.5K $38.43/SF
− OpEx
−$90.2K −$17.29/SF
NOI
$110.3K $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 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%
$2,205,460
Cap Rate 7%
$1,575,329
Cap Rate 9%
$1,225,256
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,273 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,691 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,649
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with varied floor plans, individually metered utilities, and carport parking in Sunnyvale.
Where is this apartment building located?
The property is located at 622 Grand Fir Ave Sunnyvale, CA.
What is the asking price?
The asking price for this property is $2,680,000.
What are key features of this property?
This property features: Seven‑unit apartment property built in 1959; 5,217 square feet of building area on an approximately 10,900‑square‑foot lot; Unit mix includes four one‑bedroom, two two‑bedroom, and one three‑bedroom apartments
