22-Unit Apartment
906 Burbank DR, Santa Clara, CA 95051
For Sale
$9,350,000
Seven tenant-in-common interests are offered separately or in combination, subject to the existing agreement.
Property Size14,677 SF
Days on Market8
Property Features for 906 Burbank DR
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Listing Agency:
MJA Equity Investments, Inc.
Listed By:
Jake Anthony · License CA #02059020
(650) 787-6707
Source:
Lynnnorth
Added: Nov 7
Changed: Nov 10
Last Checked: Nov 12 at 2:46PM
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 MJA Equity Investments, Inc.
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Investment Insights
Based on property information with market context.
Built in 1961, Lawrence Arms Apartments is a 22-unit residential community in Santa Clara. The offering comprises seven tenant-in-common positions representing a combined 33.75% undivided interest. Buyers may acquire positions individually or in combination, with each transfer governed by the existing TIC agreement.
Units 04 and 10 are leased to a corporate housing company under a revenue-sharing arrangement.
Units 04 and 10 are leased to a corporate housing company under a revenue-sharing arrangement.
Key Highlights
- Seven TIC positions represent a combined 33.75% undivided interest
- The property contains 22 apartment units and was built in 1961
- Positions range from 3.43% to 5.14% and may be acquired separately or together
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$277,578
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,551,560
$5.6M
Cap Rate 7%
$3,965,400
$4.0M
Cap Rate 9%
$3,084,200
$3.1M
Market Conditions
NOI Build-Up for 14,677 SF
Gross rent
$530.1K $36.12/SF
− Vacancy
−$25.4K −$1.73/SF
EGI
$504.7K $34.39/SF
− OpEx
−$227.1K −$15.47/SF
NOI
$277.6K $18.91/SF
Area
Santa Clara, CA
Vacancy
4.80%
Lease Rate
$36.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,551,560
Cap Rate 7%
$3,965,400
Cap Rate 9%
$3,084,200
Alternative Uses
Best Use
Apartment 5plus
$3.97M
$3.47M – $4.63M
NOI $277,578 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.86M
$7.75M – $10.34M
NOI $620,251 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 95051, CA
61,466
Population
25,152
Households
2.4
Avg Household Size
36
Median Age
71%
College-Educated
95%
High-School Grad
6.6 sq mi
ZIP Area
9,313
Density / Sq Mi
$185,632
Median Household Income
$107,905
Median Earnings
$3,054
Median Rent
$1,623,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Residential income properties in Santa Clara, CA
Properties on Market for Residential income properties in Santa Clara
Frequently Asked Questions
What type of property is this?
Residential income property - Seven tenant-in-common interests are offered separately or in combination, subject to the existing agreement.
Where is this residential income property located?
The property is located at 906 Burbank DR Santa Clara, CA.
What is the asking price?
The asking price for this property is $9,350,000.
What are key features of this property?
This property features: Seven TIC positions represent a combined 33.75% undivided interest; The property contains 22 apartment units and was built in 1961; Positions range from 3.43% to 5.14% and may be acquired separately or together
