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34404277
34404276

2351 Sutter Avenue, Santa Clara, CA 95050 For Sale

JC
CA 02024152
Marcus & Millichap - Palo Alto
EB
CA CA 02060059
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$2,388,000
2 days on market
Updated 1 day ago

2351 Sutter Ave

Details
APN 303-12-011
Property Type Multifamily
Square Footage 4,280
Units 6
Cap Rate 4.34%
NOI $103,652
Occupancy 83%
Pro-Forma Cap Rate 5.25%
Pro-Forma NOI $125,324
Price per SqFt $558
Year Built 1962
Buildings 1
Stories 2
Lot Size (SqFt) 7,787
Zoning R3
Parking Spaces 6 spaces
Parking per 1,000 SqFt 1.40

Santa Clara | Multifamily | 6 Units

Marketing description

BCG Multifamily is pleased to present 2351 Sutter Ave, a well-maintained 6-unit apartment community located in the highly desirable City of Santa Clara, one of Silicon Valley's strongest rental markets. Constructed in 1962, the property consists of approximately 4,280 square feet of rentable space situated on a 7,787-square-foot parcel. The unit mix of three one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units appeals to a broad tenant base while providing investors with stable in-place income and long-term growth potential.

The Current in-place rents provide immediate cash flow, while an estimated 14% rental upside offers investors a compelling value-add opportunity through strategic unit renovations as apartments naturally turn over. Ownership has invested in the property's long-term performance with newer dual-pane windows throughout. Combined with its wood-frame construction, dedicated on-site laundry facility, and well-maintained grounds, the asset offers a low-maintenance investment with additional upside remaining.

Ideally located near Pruneridge Road, Saratoga Avenue, San Tomas Expressway, and Interstate 280,the property provides exceptional access throughout Silicon Valley. Residents enjoy convenient proximity to Santana Row, Westfield Valley Fair, Apple Park, NVIDIA, Kaiser Permanente, Santa Clara University, and numerous shopping, dining, and employment destinations. Supported by strong market fundamentals and continued rental demand, 2351 Sutter Ave presents an outstanding opportunity to acquire a well-located apartment community with stable cash flow, rental upside, and long-term appreciation potential.

Investment highlights

  • Prime Santa Clara Location — near Pruneridge Golf Course, benefiting from Santa Clara County's historically tight apartment market and limited new supply
  • 6-Unit Apartment Community — 3x 1BR/1BA and 3x 2BR/1BA units offering flexible tenant appeal
  • Meaningful Rent Upside of 14% — current average rents of $2,272/unit trail market
  • Strong Employment Proximity — minutes from Apple Park, NVIDIA, and Kaiser Permanente
  • Excellent Regional Access — immediate proximity to San Tomas Expressway, I-280, and Highway 85
  • Close Proximity to Santana Row, Westfield Valley Fair, and Santa Clara University
  • Highly Rated School District — 8/10 Buchser Middle School and 8/10 Santa Clara High School

Listing Contacts

JC
CA 02024152
Marcus & Millichap - Palo Alto
EB
CA CA 02060059
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$103,652.00
$8,637.67/mo

Valuation Metrics

0
DSCR
4.34%
Cap Rate
4.34%
ROI

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Additional Information

Name
Jimmy Castellanos
License
02024152
Brokerage
Marcus & Millichap
Brokerage Phone
(650) 391-1777
Brokerage Address
2626 Hanover Street
Name
Eymon Binesh
License
CA 02060059
Brokerage
Marcus & Millichap
Title
Senior Vice President Investments
Brokerage Address
2626 Hanover Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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