Sunnyvale Multifamily Investment
For Sale
$4,775,000
962 W Weddell Dr, Sunnyvale, CA 94089
20-unit apartment community near Silicon Valley employers.
Property Size8,300 SF
Price / SF$575.30
Days on Market171
Property Features for 962 W Weddell Dr
General Information
Standard status
Active
Size
8,300 SF
Total Parking Spaces
27
Property subtype
Multi Family Home
Zoning
R4
Building Details
Building Size
8,300 SF
Year Built
1961
Buildings
2
Listing Agency:
Marcus & Millichap
(408) 888-9594
Listed By:
Mitchell Zurich · License #01870648
(408) 888-9594
Source:
Dualprideproperties
Added: Mar 5
Changed: Aug 23
Last Checked: Aug 22 at 7:58AM
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.
The Ponderosa Apartments, located at 962 Weddell Drive in Sunnyvale, California, is a 20-unit apartment community situated on the Sunnyvale/Mountain View border. The property comprises two 10-unit buildings arranged around a pool courtyard. The unit mix features nineteen studio units and one one-bedroom unit, which is occupied by the onsite manager. Onsite amenities include laundry facilities and approximately 27 uncovered parking spaces. The property's location provides access to Highway 101 and State Route 237, facilitating commuting throughout Silicon Valley. It is located near major technology employers, including Google, Apple, Amazon, LinkedIn, and Microsoft, as well as the Moffett Park employment corridor. Residents have convenient access to dining, retail, and entertainment options in Downtown Sunnyvale and Downtown Mountain View. The property represents an opportunity to acquire a multifamily asset with cash flow and rental growth potential.
Key Highlights
- Prime location on the Sunnyvale/Mountain View border, highly desirable area in Silicon Valley.
- Strong in‑place cash flow with future rental upside potential.
- Excellent commuter access to Silicon Valley via Highway 101 and State Route 237.
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 20-unit apartment community near Silicon Valley employers.
Where is this apartment building located?
The property is located at 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: Prime location on the Sunnyvale/Mountain View border, highly desirable area in Silicon Valley.; Strong in‑place cash flow with future rental upside potential.; Excellent commuter access to Silicon Valley via Highway 101 and State Route 237.
