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31650202
31650201

190 Evandale Ave, Mountain View, CA 94043

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
MG
CA 02243535
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$7,490,000
53 days on market
Updated 53 days ago

Nederland Apartments

Details
APN 160-07-008
Property Type Multifamily
Sub Type Apartment Building
Square Footage 19,290
Units 19
Cap Rate 5.53%
NOI $413,991
Occupancy 78.9%
Pro-Forma Cap Rate 7.60%
Pro-Forma NOI $568,868
Price per SqFt $388
Year Built 1963
Buildings 5
Acreage 0.730
Investment Type Value Add
Ownership Fee Simple

190 Evandale Ave, Mountain View, CA 94043

Marketing description

190 Evandale presents a rare opportunity to acquire a turn-key 19-unit apartment community, comprised entirely of spacious 2-bedroom, 2-bathroom units. Strategically located within approximately three miles of some of Silicon Valley’s largest and most influential employers including OpenAI, Google, LinkedIn, Microsoft, Waymo, NASA Ames Research Center, and Facebook/ Meta. 190 Evandale offers tenants unparalleled access to the region’s primary employment hubs. This exceptional proximity, combined with convenient access to major transportation corridors, public transit, and an abundance of nearby shopping and dining options, positions the property in one of the most supply-constrained and sought-after rental markets in the Bay Area.

The property is comprised of five buildings on a single 31,900 SF lot, including four fourplex structures and one triplex structure, totaling 19 units. Each building features carport parking and a shared laundry room for tenants.

This asset is ideal for investors seeking a stable, income-generating property with rental upside and strong long-term appreciation potential, combining immediate cash flow with future growth opportunities in one of Silicon Valley’s most dynamic housing markets.

Located in the heart of Silicon Valley, Mountain View is widely recognized as one of the most important technology hubs in the world. The city is home to numerous global technology companies and research centers, including major employers such as Google, LinkedIn, and Intuit. These firms attract a highly skilled workforce and drive a strong local economy centered around innovation, software development, and advanced engineering. As a result, Mountain View offers abundant high-paying job opportunities and continues to draw professionals from across the country and around the world. 

Mountain View’s population is exceptionally well educated, reflecting the city’s concentration of technology and research industries. Approximately 94.7% of residents age 25 and older have at least a high school diploma, while about 74.3% hold a bachelor’s degree or higher—far exceeding national averages. This highly educated workforce supports a strong local economy dominated by professional, scientific, and technical occupations, particularly in computer science, engineering, and information technology.

 The city’s strategic location on the San Francisco Peninsula further strengthens its appeal. Mountain View sits roughly midway between San Francisco and San Jose, providing convenient access to the region’s largest employment centers. The city is also near world-renowned institutions such as Stanford University, which contributes to the area’s culture of innovation, research, and entrepreneurship. This central Peninsula location allows residents and businesses to easily connect with the broader Bay Area economy while enjoying Mountain View’s strong local job base. 

With its highly educated workforce, concentration of high-paying technology jobs, and prime central Peninsula location, Mountain View remains one of Silicon Valley’s most desirable communities. The city combines economic vitality with proximity to major tech campuses, research institutions, and regional transportation corridors, making it an attractive place to live, work, and invest.


Investment highlights

  • OpenAI’s recent ~450,000 square foot lease approximately 1 mile away reinforces  the area’s emergence as a premier hub for innovation and long-term growth
  • 19 Units: All 2-bedroom, 2-bathroom units with spacious floorplans
  • Prime Mountain View Location: Near major tech employers including Open AI, Google, LinkedIn, Microsoft, and Facebook/Meta, plus transit, shopping, and dining
  • Turn-Key Investment: Well-maintained, income-generating property
  • Rental Upside & Long-Term Appreciation: Positioned in a high-demand submarket
  • Five-Building Layout: Four fourplexes and one triplex on a single 31,900 SF lot

Listing Contacts

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
MG
CA 02243535
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$413,991.00
$34,499.25/mo

Valuation Metrics

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DSCR
5.53%
Cap Rate
5.53%
ROI

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Additional Information

Name
Mitchell Zurich
License
CA 01870648
Brokerage
Marcus & Millichap
Brokerage Phone
6503911824
Title
Senior Managing Director
Brokerage Address
2626 Hanover Street
Name
Matthew Gerry
License
02243535
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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