Apartment Community with
For Sale
Contact for pricing
960-962 W Weddell Dr, Sunnyvale, CA 94089
Two 10-unit apartment buildings share a central pool courtyard and provide onsite laundry and uncovered parking.
Property Size8,300 SF
Price / SF$575.30
Days on Market147
Property Features for 960-962 W Weddell Dr
General Information
Standard status
Active
Size
8,300 SF
Total Parking Spaces
27
Property subtype
Retail, Multifamily
Occupancy
85%
Investment Type
Value Add
Net Operating Income
$264,092
Building Details
Year Built
1961
Buildings
2
Stories
1
Units
20
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Mitchell Zurich · License #CA 01870648
(650) 391-1824
Source:
Crexi
Added: Apr 14
Changed: Aug 14
Last Checked: Sep 6 at 1:45AM
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 - Palo Alto
Investment Insights
Based on property information with market context.
960–962 W. Weddell Drive is a 20-unit apartment community comprised of two separate 10-unit buildings. The property features a central pool courtyard and includes onsite laundry. The unit mix consists of nineteen studio units and one 1-bedroom unit occupied by the onsite manager, and the community provides approximately 27 uncovered parking spaces.
The property is positioned near Highway 101 and State Route 237, supporting convenient commuter access. It is located on the Sunnyvale/Mountain View border and is surrounded by major technology employers, which helps drive ongoing rental demand, with additional access to nearby downtown destinations in Sunnyvale and Mountain View.
From a configuration standpoint, the community is designed around the two-building layout with a shared courtyard, offering a compact, low-rise rental housing option with basic resident services and parking in place.
The property is positioned near Highway 101 and State Route 237, supporting convenient commuter access. It is located on the Sunnyvale/Mountain View border and is surrounded by major technology employers, which helps drive ongoing rental demand, with additional access to nearby downtown destinations in Sunnyvale and Mountain View.
From a configuration standpoint, the community is designed around the two-building layout with a shared courtyard, offering a compact, low-rise rental housing option with basic resident services and parking in place.
Key Highlights
- 20‑unit apartment community with two 10‑unit buildings built in 1961
- Unit mix of nineteen studio units and one 1‑bedroom unit (onsite manager unit)
- Central pool courtyard serving both buildings
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
$175,438
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
3.67%
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%
$3,508,760
$3.5M
Cap Rate 7%
$2,506,257
$2.5M
Cap Rate 9%
$1,949,311
$1.9M
Market Conditions
NOI Build-Up for 8,300 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
$333.7K $40.20/SF
− Vacancy
−$14.7K −$1.77/SF
EGI
$319.0K $38.43/SF
− OpEx
−$143.5K −$17.29/SF
NOI
$175.4K $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%
$3,508,760
Cap Rate 7%
$2,506,257
Cap Rate 9%
$1,949,311
Alternative Uses
Best Use
Apartment 5plus
$2.51M
$2.19M – $2.92M
NOI $175,438 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,470 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 94089, CA
23,255
Population
9,449
Households
2.5
Avg Household Size
37
Median Age
57%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
3,812
Density / Sq Mi
$153,725
Median Household Income
$82,653
Median Earnings
$3,351
Median Rent
$392,000
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 - Two 10-unit apartment buildings share a central pool courtyard and provide onsite laundry and uncovered parking.
Where is this apartment building located?
The property is located at 960-962 W Weddell Dr Sunnyvale, CA.
What is the asking price?
The asking price for this property is $4,775,000.
What are key features of this property?
This property features: 20‑unit apartment community with two 10‑unit buildings built in 1961; Unit mix of nineteen studio units and one 1‑bedroom unit (onsite manager unit); Central pool courtyard serving both buildings
