Element Apartment Homes
- Turn-key Sunnyvale apartment community with 25 of 26 units renovated.
- Private in-unit washer and dryer in every apartment.
- Demonstrated pride of ownership with renovated interiors and well-maintained grounds.
- Located in the core of Silicon Valley near major employers including Apple, Google, LinkedIn, NVIDIA, and OpenAI.
- Convenient access to Highway 101, Interstate 280, and regional Caltrain service.
- Community amenities include swimming pool, landscaped courtyard areas, BBQ and picnic space, and covered parking.
- Desirable one- and two-bedroom floor plans that appeal to Silicon Valley renters.
- 38 Parking spaces in total: 24 covered (assigned) & 14 uncovered (rentable)
Property Description
Element Apartment Homes presents the opportunity to acquire a well-maintained multifamily community located in the core of Sunnyvale, one of Silicon Valley’s most established and supply-constrained rental markets. The property is situated at 1270 Coronado Drive with convenient access to Highway 101 and Interstate 280, providing connectivity to major employment centers throughout the Peninsula and South Bay. The property consists of a unit mix of one and two-bedroom residences, with 25 of the 26 units renovated. Interior improvements include updated flooring, modernized kitchens and bathrooms, contemporary cabinetry, and updated appliances. As a result, the asset offers investors a stabilized, turn-key opportunity with limited near-term capital requirements. Each apartment includes a private in-unit washer and dryer, an amenity that is uncommon among multifamily properties of similar vintage and a feature that supports strong tenant demand and long-term retention. The community is well maintained and reflects consistent ownership oversight. Common area amenities include a swimming pool, landscaped courtyard areas, BBQ and picnic space, and covered parking. The property benefits from its location within the Silicon Valley employment corridor. Major nearby employers include Apple, Google, LinkedIn, NVIDIA, and OpenAI, which has recently expanded its presence in nearby Mountain View. The concentration of global technology employers in the surrounding area continues to support long-term housing demand and strong rental fundamentals. The property has undergone an extensive renovation and improvement program, with 25 of the 26 units fully upgraded. Interior enhancements include the installation of private in-unit washer and dryers, supported by upgraded laundry infrastructure, along with dual-pane windows throughout for improved energy efficiency and tenant comfort. Electrical improvements include upgraded subpanels, providing enhanced capacity and reliability across the property. Exterior improvements have been equally comprehensive, including new exterior paint, siding repairs, and upgraded exterior lighting. The property also features a renovated courtyard with new concrete work and the addition of a BBQ area, enhancing the overall tenant experience. Additional capital improvements include a completed seismic retrofit and a full roof replacement, providing long-term structural integrity and reduced future capital expenditure. The property is further complemented by the addition of two ADUs and updated signage/monumentation, contributing to both increased income potential and improved curb appeal.
Key Property Information
| Listing Status: | Available |
|---|---|
| Property Types: | Apartment Buildings |
| Price: | $11,600,000 |
| No. of Units: | 26 |
| Cap Rate: | 5.36% |
| GRM /GIM: | 0.36 |
| Year Built: | 1963 |
| Building Size: | 19,230 Sq ft |
| Lot Size: | 0.84 Acres |
| No. of Stories: | 2 |
| APN: | 161-17-013 |
| Opportunity Zone: | No |
| Price per unit: | $446,154 |
| Parking Spaces: | 38 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|
Additional contacts
| Full name | Phone number | Email address |
|---|---|---|
| Mitchell Zurich | 4088889594 | [email protected] |
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