Property Detail

Description

Wonderful triplex in quiet neighborhood w/ single family homes near Heritage District & Downtown. Immediate owner occupancy opportunity & 80% LTV conventional financing available. Built in 1959, 6,211 SqFt lot, 2,178 SqFt building. Unit Mix: (1) 2-Bed/1-Bath owners unit & (2) 1-Bed/1-Bath units. Delivered vacant at close of escrow- fully renovated 1-Bed/1-Bath unit #2 with new plumbing, insulation, electrical, interior walls, flooring, windows, kitchen, bathroom, & LED lights. All copper piping, fumigation completed, & SB-721 clearance. Opportunity to add value by implementing utility reimbursement system & renovating 2 units. Opportunity to upgrade electrical service to add in-unit laundry, air conditioning, & electric vehicle chargers. An ADU consultant has determined that add one conversion ADU can be added pursuant to statewide ADU polices- buyer to contact City of Sunnyvale to verify. Feeds into Vargas Elementary, Sunnyvale Middle, & Homestead High. Many of the largest tech companies are near Sunnyvale including Alphabet, Apple, Nvidia, Amazon, Microsoft, & Meta. The robust high tech job growth, housing shortage, excellent schools, & proximity to large Silicon Valley employers make 1040 W. Iowa Avenue a great opportunity for both the cash flow & appreciation minded investor.