665 Olive Ave Sunnyvale, CA 94086

Property Details for 665 Olive Ave

Year built

1967

Property size

3,684 SF

Property type

Commercial real estate

APN

209-18-025

Description

This exceptional investment opportunity presents a four-unit apartment building located at 665 E Olive Ave, Sunnyvale, CA 94086. The property, built in 1967, boasts a total of 3,684 square feet on an 8,030 square foot lot. The building features a desirable unit mix: two three-bedroom/two-bathroom units, one two-bedroom/one-bathroom unit, and one one-bedroom/one-bathroom unit. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $88,440, with a pro-forma NOI of $110,032. The asking price is $2,350,000, representing a cap rate of 3.76% and a pro-forma cap rate of 4.68%. Significant recent capital expenditures include a complete copper repipe and remodeling of all units, featuring new bathrooms and new kitchens in three of the four units. The property offers five parking spaces. Its prime location is less than one mile from downtown Sunnyvale, providing convenient access to major tech employers such as NVIDIA, AMD, and Apple, as well as easy access to Lawrence Expressway and Highways 82, 237, and 101. The land value is $293 per square foot. This property presents a compelling opportunity for owner-occupancy, combining personal living space with significant rental income potential. The property's APN is 209-18-025. The price per unit is $587,500. The building is a two-story Class C multifamily property.