655-663 Moorpark Way - Apartments FOR SALE


Mountain View, CA 94041
$11,925,000 USD
650-492-0934
655-663 Moorpark Way, Mountain View, CA for Sale
$11,925,000 USD
Apartments - FOR SALE
1/12
null | 5.66% Cap Rate

655-663 Moorpark Way
Mountain View, CA 94041


HIGHLIGHTS

  • Exceptional Mountain View Investment Opportunity - acquire a well-situated multifamily asset located in the heart of Silicon Valley.
  • Desirable Unit Mix - The subject property offers tenants highly desirable two-bedroom, one-bedroom and studio floor plans.
  • Convenient Community Amenities - convenient community amenities such as private covered parking, a barbecue patio courtyard & on-site laundry.
  • Abundant Lifestyle Amenities - close proximity to lifestyle amenities in its downtown district such as boutique retailers and high-end restaurants.

OVERVIEW

Pinecrest Apartments is a stunning 47-unit apartment community located at 655-663 Moorpark Way in the thriving city of Mountain View, CA. Situated on a 1.41 acre parcel of land, the subject property was originally constructed in 1959 and features a gross building area of approximately 28,728 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom and studio floor plans. Additionally, the subject property features convenient community amenities such as private covered parking, a barbecue patio courtyard, and an on-site laundry facility. Pinecrest Apartments is located in the city of Mountain View in the South Bay's Santa Clara County. This well-positioned market rests directly below Palo Alto, one of the strongest residential markets in all of California. The city of Mountain View has been credited with many of the new technologies and markets originating in Silicon Valley. While leading the region in innovation and ideas, Mountain View harbors some of the nation’s top tech employers including Google, Microsoft, LinkedIn, Symantec, and Intuit to name a few. In addition to the stunning Googleplex, (Google Headquarters) located only 5 miles away, the subject property is also located within close proximity to Downtown Mountain View (1.5mi) and Cityline Sunnyvale (2.5mi). Downtown Mountain View and Castro Street play a unique role within the community and offer more than 20 retailers and 70 restaurants. The downtown area boasts the City Civic Center and Center of Performing Arts landmark, providing a myriad of high-end dining, shopping and entertainment options. The investment appeal of this asset is driven by Mountain View’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, Pinecrest Apartments is a highly coveted place to call home for South Bay renters due to its close proximity to major employers, transportation corridors, as well as its extensive dining, shopping, and entertainment options.

FOR SALE DETAILS

PRICE

$11,925,000 USD

PRICE/SF

$415 USD /SF

# OF UNITS

47

PRICE/UNIT

$253,723

CAP RATE

5.66%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pinecrest Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

80

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

R31, Mountain View

APN/PARCEL ID

161-03-033

ASK ABOUT THIS PROPERTY

Adam LevinLevin JohnstonMore Info
650-492-0934

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Adam LevinLevin JohnstonMore Info
650-492-0934

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.