530 Columbia Ave
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530 Columbia Ave
6 Unit Apartment Building $2,200,000 ($366,667/Unit) 3.18% Cap Rate Sunnyvale, CA 94085
Investment Highlights
- Located 1 mile from DT Sunnyvale with large "owners unit" and significant upside in rental income
- Recent upgrades include (4) remodeled bathrooms & replaced hot-water supply with copper pipes
- Easy access to Lawrence Expressway, El Camino Real, Highways 101 and 237
- Versatile unit mix: (1) 3BD/2BA; (1) 2BD/1BA; (4) 1BD/1BA
- Close proximity to major tech employers including LinkedIn, Google, Microsoft, NVIDIA and more
Executive Summary
Magnify is pleased to present the opportunity to acquire 30 Columbia Ave, a six (6) unit multi-family investment with owner-occupancy potential located in the highly desirable city of Sunnyvale.
Constructed in 1961, the property consists of one (1) three-bedroom/two-bathroom unit, one (1) two-bedroom/one-bathroom unit, and four (4) one-bedroom/one-bathroom units, spanning a total of 4,101 square feet. Situated on an 8,539 square-foot lot, recent improvements include four (4) remodeled bathrooms and replaced hot-water supply with copper pipes. This investment has significant upside in potential rental income through further renovations of the interiors. Notably, the presence of a spacious two-story front unit offers the added advantage of potential owner occupancy, further adding to its appeal and versatility.
The subject property is located just one mile from Downtown Sunnyvale. It is less that a 10-minute drive from Levi's Stadium and major tech employers including LinkedIn, Google, Microsoft, NVIDIA, and more. Finally, the property provides easy access Lawrence Expressway, El Camino Real, and Highways 101 & 237.
Constructed in 1961, the property consists of one (1) three-bedroom/two-bathroom unit, one (1) two-bedroom/one-bathroom unit, and four (4) one-bedroom/one-bathroom units, spanning a total of 4,101 square feet. Situated on an 8,539 square-foot lot, recent improvements include four (4) remodeled bathrooms and replaced hot-water supply with copper pipes. This investment has significant upside in potential rental income through further renovations of the interiors. Notably, the presence of a spacious two-story front unit offers the added advantage of potential owner occupancy, further adding to its appeal and versatility.
The subject property is located just one mile from Downtown Sunnyvale. It is less that a 10-minute drive from Levi's Stadium and major tech employers including LinkedIn, Google, Microsoft, NVIDIA, and more. Finally, the property provides easy access Lawrence Expressway, El Camino Real, and Highways 101 & 237.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$122,208
|
$29.80
|
| Other Income |
$1,440
|
$0.35
|
| Vacancy Loss |
$3,666
|
$0.89
|
| Effective Gross Income |
$119,982
|
$29.26
|
| Taxes |
$25,961
|
$6.33
|
| Operating Expenses |
$23,108
|
$5.63
|
| Total Expenses |
$49,069
|
$11.97
|
| Net Operating Income |
$70,913
|
$17.29
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $122,208 |
| Annual Per SF | $29.80 |
| Other Income | |
|---|---|
| Annual | $1,440 |
| Annual Per SF | $0.35 |
| Vacancy Loss | |
|---|---|
| Annual | $3,666 |
| Annual Per SF | $0.89 |
| Effective Gross Income | |
|---|---|
| Annual | $119,982 |
| Annual Per SF | $29.26 |
| Taxes | |
|---|---|
| Annual | $25,961 |
| Annual Per SF | $6.33 |
| Operating Expenses | |
|---|---|
| Annual | $23,108 |
| Annual Per SF | $5.63 |
| Total Expenses | |
|---|---|
| Annual | $49,069 |
| Annual Per SF | $11.97 |
| Net Operating Income | |
|---|---|
| Annual | $70,913 |
| Annual Per SF | $17.29 |
Property Facts
| Price | $2,200,000 | Apartment Style | Low Rise |
| Price Per Unit | $366,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 3.18% | Building Size | 4,101 SF |
| Gross Rent Multiplier | 18.1 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.46/1,000 SF |
| Price | $2,200,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 3.18% |
| Gross Rent Multiplier | 18.1 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,101 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.46/1,000 SF |
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,550 | - |
| 2+1 | 1 | $1,675 | - |
| 1+1 | 4 | $1,501 | - |
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Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 204-38-034 | Total Assessment | $524,153 |
| Land Assessment | $175,756 | Annual Taxes | $25,961 ($6.33/SF) |
| Improvements Assessment | $348,397 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
204-38-034
Land Assessment
$175,756
Improvements Assessment
$348,397
Total Assessment
$524,153
Annual Taxes
$25,961 ($6.33/SF)
Tax Year
2023
zoning
| Zoning Code | R3 (Residential- apartments) |
| R3 (Residential- apartments) |
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