Element Apartment Homes presents the opportunity to acquire an extensively renovated, 100% occupied 26-unit apartment community located in Sunnyvale, California, in the heart of Silicon Valley. The property has undergone a comprehensive renovation program with approximately $1.5 million invested in capital improvements, including upgraded electrical subpanels, a new roof, seismic retrofit, dual-pane windows, copper plumbing and extensive interior improvements, with 25 of 26 units renovated. Every apartment features a private in-unit washer and dryer, a highly differentiated amenity within the competitive set. The extensive improvements result in limited remaining near-term capital requirements. Element continues to offer meaningful rental upside. Sunnyvale apartment rents increased 7.1% year-over-year in Q2 2026, significantly outperforming the 2.1% statewide average. Continued market rent growth and upside in the existing rent roll provide additional opportunity while maintaining 100% occupancy. Element is strategically located within one of Silicon Valley’s leading technology and AI employment corridors. The property is approximately 2.5 miles from OpenAI’s new Silicon Valley campus, where OpenAI signed a 10-year lease for approximately 439,000 square feet across five buildings. Element also offers convenient access to Apple, Google, NVIDIA, LinkedIn and many of the region’s other major technology employers. The community features one- and two-bedroom floor plans, a swimming pool, landscaped courtyard, BBQ and picnic areas, and 38 parking spaces. With significant capital improvements completed, 100% occupancy, strong rent growth and continued technology and employment growth throughout Silicon Valley, Element offers an attractive combination of stabilized operations and future upside.