4-PLEX in SUNNYVALE - LoopNet...Christian Losness Broker/Partner Tel (408) 824‐1111 BRE No....

Christian LosnessBroker/PartnerTel (408) 824‐1111 BRE No. [email protected]

www.losnessgroup.com

522 S. Fair Oaks Ave. ‐

Sunnyvale, Ca. 94086

522 S. Fair Oaks Ave. Sunnyvale, Ca. 940864-PLEX in SUNNYVALE

• Gross Income: $112,000• Unit mix: (1) 3/2, (2) 2/1,

and (1) 1/1• Located 3 Miles from the Apple

Spaceship• Located 1.5 Miles from Apple’s

Wolfe/Central Campus• Copper Plumbing Throughout• Upside in Rents• Large Remodeled Owners Unit

PRICE: $2,250,000

SUNNYVALE





Disclosures

• The information contained in the following Marketing Presentation is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Losness Group and should not be made available to any other person or entity without the written consent of Losness Group. This Marketing Brochure is intended to be used for the sole purpose of preliminary evaluation.

• This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Losness Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

• The information contained in this Marketing Presentation has been obtained from sources we believe to be reliable; however, Losness Group has not verified, and will not verify, any of the information contained herein. Losness Group makes no representation or warranty regarding the property, including but not limited to: income, expenses, or financial performance (past, present or future); size, square footage, condition of property. Losness Group has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any potential buyer must independently investigate and verify all information set forth in Marketing Presentation and is solely responsible for all costs and expenses incurred in reviewing the Marketing Presentation and/or investigating and evaluating the property.





Property Overview





Local Map





Property Profile

Zoning N/A

Foundation Concrete Perimeter

Framing Wood

Exterior Stucco

Parking Surface Concrete

Roof Composition

Parking Carport/Street

Metering Individual Gas/Elect

Year Built 1968

Property Address 522 S. Fair Oaks Ave.

Major Cross Street S. Fair Oaks

Parcel Number 209‐19‐026

Number of Units 4

Number of Buildings 1

Number of Stories 2

Unit Mix (1) 3/2, (2) 2/1, (1) 1/1

Gross Living Area 3,603 SF

Lot Size 7,742 SF





Location Overview

• Property is located just 3.0 miles from Apples Spaceship Headquarters• Property is located just 1.5 miles from Apple’s new Wolfe/Central Campus• Property is located less than 1 mile from Historic Downtown Sunnyvale





Property Overview

Very Clean 4‐Plex in Sunnyvale. Unit Mix: (1) 3 bedroom/2 bath (vacant), (2) 2 bedroom/1 bath and (1) 1 bedroom/1 bath. Current Gross Rent: $112,000. Pro‐Forma Gross Rent: $127,000. Upgrades to all kitchens and bathrooms. Centrally located to all major tech companies in Sunnyvale and less than a mile from historic Downtown Sunnyvale. Copper plumbing throughout. Roof is just 6 yrs. old. Tuck under parking and additional storage for tenants. Drought resistant landscaping. Community washer/dryer owned, not rented. Central Heating in 3 units wall heater for 4th unit. All units feature large floor‐to‐ceiling closets or walk in closets.

Home Inspection, Pest Report and Roof Reports available.





Financials





Offering Summary

Address 522 S. Fair Oaks Ave.

Price $2,250,000

Unit Mix (1)3/2, (2)2/1 and (1)1/1

Parcel Number 209‐19‐026

Age 1968

Number of units 4

Rentable Sq. Ft. 3,603

Lot Size 7,742

CAP Rate 3.38%

Pro‐Forma CAP 4.12%

GRM 20.14

Pro‐Forma GRM 17.52

ROI 2.53%

Pro‐Forma ROI 4.18%

$ Per Unit $562,500

$ Per Sq. Ft. $624





Rent Roll

# UNIT MIX RENT MARKET $ Below Market % Below Market

1 3bed / 2bath $3,350 $3,400 $50 1.47%

2 2bed / 1bath $1,960 $2,500 $540 21.60%

3 2bed / 1bath $2,300 $2,500 $200 8.00%

4 1bed / 1bath $1,700 $2,100 $400 19.05%

TOTALS $9,310 $10,500 12.53%

NOTES: The 1/1 unt is currently occupied by the manager, whos rent will increase to $1,700 when the property transfers.





Income/Expense Statement

INCOME (Annual) ACTUAL PRO‐FORMA

Gross Rental Income $111,720 $128,400

Laundry/Other Income $1,200 $1,200

Less Vacancy $1,117 $1,284

Effective Gross Income $111,803 $128,316

EXPENSES (Annual)

Taxes (City) $26,550 $26,550

Special Assesment (City) $275 $275

Insurance (Lender) $1,621 $1,621

Water $2,400 $2,400

Garbage $2,400 $2,400PG&E $2,400 $2,400Total Expenses $35,646 $35,646Net Operating Income $76,156 $92,670

SUMMARY Expenses $35,646 $35,646% Expenses 31.88% 27.78%Cap Rate 3.38% 4.12%GRM 20.14 17.52ROI $25,310 $41,823ROI as % 2.53% 4.18%





Buyer Financing StatementOFFERING UNITS UNIT TYPE CURRENT MARKET

Price $2,250,000 Unit #1 3/2 $3,350 $3,400

Down Payment 44% $1,000,000 Unit #2 2/1 $1,960 $2,600

Number of Units 4 Unit #3 2/1 $2,300 $2,600

Price/Unit $562,500 Unit #4 1/1 $1,700 $2,100

Rentable Square Feet 3,603 $9,310 $10,700

Price/Square Foot $624

Current CAP Rate 3.38% Loan Amount $1,250,000

Pro Forma CAP Rate 4.12% Intrest Rate 4.10%

Current GRM 20.14 Monthly Pay $6,040

Pro Forma GRM 17.52

ROI 2.53%

Pro Forma ROI 4.18%

INCOME Current Pro Forma EXPENSES Current

Gross Rental Income $111,720 $128,400 Taxes (City) 1.18% $26,550

Laundry Income $1,200 $1,200 Special Assesment (City) $275

Gross Scheduled Income $112,920 $129,600 Insurance (Lender) $1,621

Less Vacancy (5% of GRI) $1,117 $1,284 Water $2,400

Effective Gross Income $111,803 $128,316 Garbage $2,400

Less Expenses $35,646 $35,646 PG&E $2,400

NET OPERATING INCOME $76,156 $92,670 Permits $0

Debt Service $72,480 $72,480 Reserves $0

Net Cash Flow $3,677 $20,190 Management 5% 0% $0

Principal Reduction $21,633 $21,633 Total Expenses $35,646

Total Return $25,310 $41,823 Expenses/Unit $8,912

Expenses/SF $9.89

Christian LosnessBroker/PartnerTel (408) 824-1111 BRE No. [email protected]


384-386 America Ave. Sunnyvale, CA. 94085

Sales Comparables

Selling Pric $2,446,000 Price/Unit: $611,500

# of Units 4 Price/SF: $645

DOM 20 CAP: 3.43%

Year Built: 1963 GRM: 17.50

Sq. Ft. 3,792 Lot Size 7,485

NOI $83,880 Gross Rent $139,800

Unit Mix (4) 2/1 Asking Price $2,580,000

994 Mangrove Ave. ‐ Sunnyvale 94086 NOTES: Lucrative pride of ownership cash cow at below market rents. Serene neighborhood next to Sunken Garden golf course. Laundry inside each unit, remodeled bathrooms, central A/C, 4 attached garages, additional 8 parking spaces, and new dual pane windows in each unit increase rental desirability and fetch high rents. Two units with new hardwood floors throughout and new kitchens. Two other units with partially remodeled kitchen and hardwood floors in dining areas.



DOM 10 CAP: 3.34%


Sq. Ft. 4,230 Lot Size 7,480

NOI $77,040 Gross Rent $128,400

Unit Mix (2)3/1.5, (2)2/1 Asking Price $2,310,000

1251 W. Mckinley Ave. ‐ Sunnyvale 94086 NOTES: Limited Upgrades. WELL CARED FOR UNITS IN DESIRABLE RENTAL AREA OF SUNNYVALE. 1) 3 BEDROOM 2 BATH OWNERS UNIT WITH LIVING ROOM, FAMILY ROOM, INSIDE LAUNDRY ROOM AND PRIVATE GARAGE. SOME UNITS UPDATED AND HAVE GRANITE KITCHEN COUNTERS. 1) 3 BEDROOM 1.5 BATHS WITH GARAGE AND 1 ASSIGNED PARKING SPACE. 2) 2 BEDROOM UNITS WITH 1 BATH AND 1 CAR GARAGE AND 1 ASSIGNED PARKING SPACE.. LAUNDRY ROOM, FORCED AIR HEATING AND SOME UNITS WITH GAS LOG FIREPLACES.




Sales Comparables II



DOM 7 CAP: 3.15%


Sq. Ft. 4,029 Lot Size 8,084

NOI $67,800 Gross Rent $113,000

Unit Mix (1)3/2,(2)2/1,(1)1/1 Asking Price $2,099,000

1057 Reed Terrace ‐ Sunnyvale 94086 NOTES: $100 HOA fee. Limited Upgrades. WELL CARED FOR UNITS WITH DOWNSTAIRS 3 BEDROOM 2 BATH OWNERS UNIT WHICH FEATURES A VAULTED CEILING, FIREPLACE, SMALL YARD AND 2 CAR GARAGE. (2) 2 BEDROOM / 1.5 BATHS UNITS, EACH WITH A ONE CAR GARAGE AND 1 ASSIGNED PARKING SPACE. (1) 1 BEDROOM / 1 BATH APARTMENT WITH 1 CAR GARAGE. FORCED AIR HEATING, ALL UNITS WITH WALL AIR CONDITIONING , LAUNDRY ROOM.



DOM 20 CAP: 3.06%


Sq. Ft. 3,752 Lot Size 7,457

NOI $64,200 Gross Rent $107,000

Unit Mix (1)3/2,(1)3/1.5,(1)2/1,(1)1/1 Asking Price $2,099,000

644 E. Olive Ave. ‐ Sunnyvale 94086 NOTES: Limited Upgrades. The units are well‐apportioned and over‐sized compared to others built in this similar timeframe. The units are generally clean with 3 bedroom units containing dishwashers and forced air. This investment is perfect for an owner occupier as the owner's unit contains a fireplace, large living room, and a private patio or investor looking for an opportunity to add‐value through unit repositioning. There are (5) tuck‐under parking spaces with storage units and on‐site laundry facility, all great rental features.




Comparables vs. Subject

Address Price # /Units $/Unit Sq. Ft. $/Sq Ft CAP GRM

994 Mangrove Ave. - Sunnyvale 94086 $2,446,000 4 $611,500 3,792 $645 3.43% 17.50

1251 W. Mckinley Ave. - Sunnyvale 94086 $2,310,000 4 $577,500 4,230 $546 3.34% 17.99

1057 Reed Terrace - Sunnyvale 94086 $2,150,000 4 $537,500 4,029 $534 3.15% 19.03

644 E. Olive Ave. - Sunnyvale 94086 $2,100,000 4 $525,000 3,752 $560 3.06% 19.63

Average $2,302,000 $562,875 3,951 $571 3.24% 18.53

522 S. Fair Oaks Ave. $2,150,000 4 $537,500 3,603 $597 3.25% 19.14





Pictures





About Your Agent and Losness Group

Christian Losness is a broker and partner at the Losness Group which he co‐founded with his two partners in 2005. Since its inception, Christian and the Losness Group have taken part in over $500,000,000 in local apartment sales, third largest among all real estate companies. Christian also does seminars on apartment topics for local apartment owners, keeping them up to date on the local apartment economy and opportunities. He has been asked to write several articles for the Apartment Owners Association, the California Apartment Association, and the Business Journal. Recently, Christian was asked to become Chairman of the Bay Area Brokers Forum, an influential group of top local apartment brokers. Christian’s knowledge and specialization has helped several owners achieve record pricing for their apartments in recent years and he continues to be at the forefront of his industry.

The Losness Group was founded in 2006 by three Silicon Valley‐based brothers. We are a full service commercial brokerage firm specializing in apartment brokerage. We are apartment specialists with a proven record of improving clients portfolio's and we are dedicated to providing expert guidance through every step of the real estate transaction. Our specialization in the local apartment economy creates unparalleled expertise. We are committed to continually assisting in your real estate investment needs, visions, and goals, and applying our resources to meet those requirements.

4-PLEX in SUNNYVALE - LoopNet...Christian Losness Broker/Partner Tel (408) 824‐1111 BRE No....

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