4-PLEX in CUPERTINO - LoopNet€¦ · 994 Westlynn Way – Cupertino, Ca. 95014 Property Highlights...

Christian LosnessBroker/PartnerTel (408) 824‐1111 BRE No. [email protected]

www.the4plexgroup.com

994 Westlynn W

ay –Cupertino, Ca. 95014

994 Westlynn Way Cupertino, CA 950144-PLEX in CUPERTINO

• Unit mix: (1) 3/2 and (3) 2/1• Located 3 Miles from the Apple

Spaceship• Monte Vista/Lincoln Schools• Large Units • Gross Rent: $140,400• 2 Vacancies• Lots of Upgrades• Upside in Rents

PRICE: 3,500,000

994 Westlynn Way.

Apple Spaceship



994 Westlynn W


Disclosures

• The information contained in the following Marketing Presentation is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Losness Group and should not be made available to any other person or entity without the written consent of Losness Group. This Marketing Brochure is intended to be used for the sole purpose of preliminary evaluation.

• This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Losness Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.

• The information contained in this Marketing Presentation has been obtained from sources we believe to be reliable; however, Losness Group has not verified, and will not verify, any of the information contained herein. Losness Group makes no representation or warranty regarding the property, including but not limited to: income, expenses, or financial performance (past, present or future); size, square footage, condition of property. Losness Group has not conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Any potential buyer must independently investigate and verify all information set forth in Marketing Presentation and is solely responsible for all costs and expenses incurred in reviewing the Marketing Presentation and/or investigating and evaluating the property.



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Property Overview



994 Westlynn W


Local Map

994 Westlynn Way.

994 Westlynn Way.



994 Westlynn W


Property Profile

Zoning N/A

Foundation Concrete Perimeter

Framing Wood

Exterior Stucco

Parking Surface Concrete

Roof Composition

Parking Garage/Driveway

Metering Individual Gas/Elect

Year Built 1977

Property Address 994 Westlynn Way

Major Cross Street N. Fair Oaks

Parcel Number 204‐39‐048

Number of Units 4

Number of Buildings 1

Number of Stories 2

Unit Mix (1) 3/2, (3) 2/1

Gross Living Area 3,983 SF

Lot Size 9,000 SF



994 Westlynn W


Location Overview

• Property is located just 3 miles from Apples Spaceship Headquarters• Top school districts: Monte Vista and Lincoln Elementary• Property is 1 mile from DeAnza College• Property is located on a quiet tree lined street. • 2 Blocks from Jollyman Park



994 Westlynn W


Property HighlightsGeneralRoof is in good condition (see reports) Balcony recently renovated and new up‐to‐code rails. 4 private garages, Coin‐operated laundry room. Some copper plumbing. 2 vacant units. Quiet tree lined residential street. Close to lots of shopping and restaurants. Close to Hwy’s 280 and 85.

Unit #1: Rent $3,5503 bedroom, 2 bath unit. In unit washer/dryer. Mostly original condition. Tile counters, vinyl flooring. Large living room. In unit washer/dryer. Brick fireplace. Central heating and A/C unit. Tenant is on a 6 month lease.

Unit #2: Vacant (Market Rent $2,550)2 Bedroom, 1 bath unit. Mostly renovated unit. New kitchen has new cabinets, counter tops, microwave, oven, refrigerator, fixtures and tile flooring. New bathroom has tile flooring, new tub, new cabinets and toilette. New and hardware throughout. Central heating and AC unit. Electronic controls. Recessed lighting and new light fixtures.

Unit #3: Rent $2,7 50No information at this time

Unit #4: Vacant (Market Rent $2,750)2 Bedroom, 1 bath unit. Fully renovated unit. Semi‐private patio area recently improved with up‐to‐code railings. Kitchen has new cabinets, counter tops, microwave, oven, refrigerator, fixtures and tile flooring. New bathroom has tile flooring, new tub, new cabinets and toilette. New and hardware throughout. Central heating and AC unit. Electronic controls. Recessed lighting and new light fixtures.



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Financials



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Offering Summary

Address 994 Westlynn Way

Price $3,500,000

Parcel Number 359‐27‐010

Age 1968

Number of units 4

Rentable Sq. Ft. 3,983

Lot Size 9,000

CAP Rate 2.53%

Pro‐Forma CAP 2.97%

GRM 25.14

Pro‐Forma GRM 22.10

ROI 2.53%

Pro‐Forma ROI 2.97%

$ Per Unit $875,000

$ Per Sq. Ft. $879



994 Westlynn W


Rent Roll

# UNIT MIX RENT MARKET $ Be low Market % Be low Market

1 3bed / 2bath $3,550 $4,000 $450 11.25%

2 2bed / 1bath $2,550 $3,000 $450 15.00%

3 2bed / 1bath $2,750 $3,000 $250 8.33%

4 2bed / 1bath $2,750 $3,000 $250 8.33%

TOTALS $11,600 $13,000 10.73%



994 Westlynn W


Income/Expense Statement

INCOME (Annual)

Gross Rental Income $139,200

Laundry/Other Income $1,200

Less Vacancy $4,176

Effective Gross Income $136,224

EXPENSES (Annual)

Taxes (City) $41,300

Special Assesment (City) $2,465

Insurance (Lender) $1,792

Utilities (Lender) $720

Permits (Est.) $180

Landscaping (Est.) $1,200

TOTAL EXPENSES $47,657

Expenses: $47,657

% Expenses: 35.0%

Cap Rate: 2.53%

GRM: 25.14

Price/Unit: $875,000

Price/SF: $879

Christian LosnessBroker/PartnerTel (408) 824-1111 BRE No. [email protected]

3131 S. Bascom Ave.Campbell, Ca. 95008

www.losnessgroup.com

384-386 America Ave. Sunnyvale, CA. 94085

Sales Comparables



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Sales Comparables

NOTES: (1) 4/2, (1) 3/3 and (2) 2/2. There is a bonus fifth unit consisting of a large 1BR/1BA cottage which is rented for $1,995. All units have been completely renovated with high end finishes. Improvements include kitchen appliances, dishwashers, cabinets, counter‐tops, plank flooring, dual pane windows, doors, interior and exterior paint, and lighting. The two, three, and four bedroom units have large private backyards and central heating and most have in‐unit washer and dryer. D.J. Sedgwick Elementary, Warren E. Hyde Middle, and Cupertino High.

NOTES: (2) 3/3 and (2) 2/2. All 4 units were given high‐quality, luxury upgrades within the last 24 months, with high‐end appliances, quartz counter tops, luxury vinyl plank & tile throughout, LED lighting, all done with permits. The copper plumbing and brand new electrical panels promise low‐low maintenance costs. The recirculating hot water and shiny new central heating & A/C units make your tenants happy! Microwave, washer/dryer, dishwasher, and garbage disposal in EVERY unit. Walking distance to Apple's new campus! Walking distance to top Cupertino schools,

Selling Price $4,200,000 Price/Unit: $1,050,000

# of Units 4 Price/SF: $772

DOM 20 CAP: 3.25%

Year Built: 1963 GRM: 20.14

Sq. Ft. 5,437 Lot Size 15,720

NOI $136,659 Gross Rent $208,500

19469 Rosemarie Pl. Cupertino 95014

Selling Price $3,998,000 Price/Unit: $999,500

# of Units 4 Price/SF: $803

DOM 19 CAP: 2.87%

Year Built: 1963 GRM: 22.29

Sq. Ft. 4,981 Lot Size 10,739

NOI $114,731 Gross Rent $179,400

19479 Rosemarie Pl. Cupertino 95014



994 Westlynn W


Pictures



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Pictures (Unit #2)



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Pictures (Unit #4)



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Pictures



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About Your Agent and Losness Group

Christian Losness is a broker and partner at the Losness Group which he co‐founded with his two partners in 2005. Since its inception, Christian and the Losness Group have taken part in over $300,000,000 in local apartment sales, third largest among all real estate companies. Christian also does seminars on apartment topics for local apartment owners, keeping them up to date on the local apartment economy and opportunities. He has been asked to write several articles for the Apartment Owners Association, the California Apartment Association, and the Business Journal. Recently, Christian was asked to become Chairman of the Bay Area Brokers Forum, an influential group of top local apartment brokers. Christian’s knowledge and specialization has helped several owners achieve record pricing for their apartments in recent years and he continues to be at the forefront of his industry.

The Losness Group was founded in 2006 by three Silicon Valley‐based brothers. We are a full service commercial brokerage firm specializing in apartment brokerage. We are apartment specialists with a proven record of improving clients portfolio's and we are dedicated to providing expert guidance through every step of the real estate transaction. Our specialization in the local apartment economy creates unparalleled expertise. We are committed to continually assisting in your real estate investment needs, visions, and goals, and applying our resources to meet those requirements.

4-PLEX in CUPERTINO - LoopNet€¦ · 994 Westlynn Way – Cupertino, Ca. 95014 Property Highlights...

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