DUPLEX in SUNNYVALE - LoopNet · 2018. 5. 23. · Christian Losness Broker/Partner Tel (408)...

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

3131 S. Bascom Ave.Campbell, Ca. 95008

www.losnessgroup.com

378-380 America Ave. Sunnyvale, CA. 94085

378‐380 America Ave. – Sunnyvale 94085DUPLEX in SUNNYVALE

• Both Units are 3 Bedroom and 1.5 Bath

• Located ½ Mile from Apple’s New AC3 Center

• Private Yards• Private Garages• Quiet Tree Lined Street• Gross Rent: $74,000• Rental Upside

PRICE: $2,088,888





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





Property Profile

Zoning N/A

Foundation Concrete Perimeter

Framing Wood

Exterior Stucco

Parking Surface Concrete

Roof Composition

Parking Garage/Driveway

Metering Separet Gas/Elect/Water

Year Built 1977

Property Address 384‐386 America Ave.

Major Cross Street

Parcel Number 204‐39‐048

Number of Units 2

Number of Buildings 1

Number of Stories 2

Unit Mix (2) 3 Bedroom 1.5 Baths

Gross Living Area 2,650 SF

Lot Size 7,607 SF





Location Overview

• Property is located just ½ mile from Apples new AC3 Spaceship Campus scheduled to be completed in 2018.

• Tenants are close enough to walk or ride their bike to AC3 Campus.• Property is located just 1.6 miles from Historic Downtown Sunnyvale





Financials





Offering Summary

Address 378‐380 America Ave.

Price $2,088,000

Parcel Number 204‐39‐048

Age 1977

Number of units 2

Rentable Sq. Ft. 2,651

Lot Size 7,607

CAP Rate 2.01%

Pro‐Forma CAP 2.83%

GRM 29.15

Pro‐Forma GRM 22.89

ROI 2.01%

Pro‐Forma ROI 2.83%

$ Per Unit $1,044,000

$ Per Sq. Ft. $788





Rent Roll

# UNIT MIX RENT MARKET $ Be low Market % Be low Market

1 3bed / 1.5bath $2,895 $3,800 $905 23.82%

2 3bed / 1.5bath $3,075 $3,800 $725 19.08%

TOTALS $5,970 $7,600 21.45%





Income/Expense Statement

INCOME (Annual)

Gross Rental Income $71,640

Laundry/Other Income $0

Less Vacancy $2,149

Effective Gross Income $69,491

EXPENSES (Annual)

Taxes (City) $24,638

Special Assesment (City) $262

Insurance (Lender) $1,193

Utilities (Lender) $0

Permits (Est.) $180

Landscaping (Est.) $1,200

TOTAL EXPENSES $27,473

Expenses: $27,473

% Expenses: 39.5%

Cap Rate: 2.01%

GRM: 29.15

Price/Unit: $1,044,000

Price/SF: $788





Estimated Operating Statement

INCOME Current Pro Forma EXPENSES CurrentGross Rental Income $71,640 $91,200 Taxes (City) 1.18% $24,638Laundry Income $0 $0 Special Assesment (City) $262Gross Scheduled Income $71,640 $91,200 Insurance (Lender) $1,193Less Vacancy (5% of GRI) $2,149 $4,560 Utilities (Lender) $0Effective Gross Income $69,491 $86,640 Permits (Est.) $180Less Expenses $27,473 $27,473 Landscaping (Est.) $1,200NET OPERATING INCOME $42,017 $59,167 Miant/Repairs $0Debt Service $0 $0 Reserves $0Net Cash Flow $42,017 $59,167 Management 5% 0% $0Principal Reduction $0 $0 Total Expenses $27,473Total Return $42,017 $59,167 Expenses/Unit $13,737

Expenses/SF $10.36% of EGI 39.5%

RENT ROLL # of Units Bdr/Baths Current Monthly Pro Forma Monthly1 3/1.5 $2,895 $2,895 $3,800 $3,8001 3/1.5 $3,075 $3,075 $3,800 $3,800

Monthly Totals $5,970 $7,600





Maps and Pictures





Local Map

SUBJECT Apple AC3 Campus





Ariel

SUBJECT





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 $200,000,000 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.

DUPLEX in SUNNYVALE - LoopNet · 2018. 5. 23. · Christian Losness Broker/Partner Tel (408)...

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