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1331 South Wolfe Road, Sunnyvale, CA, USA

Price: $5,000,000 | 16.667% Undivided Partnership Interest

1331 S Wolfe Rd, Sunnyvale, CA | Olive Tree Apartments

Executive Summary

The Ivy Group and HAYLEN Group are pleased to present an excellent investment opportunity to own a PARTIAL INTEREST in a well run apartment building at 5.36% pro forma cap rate! The Olive Tree Apartments is an updated 88-unit multifamily building situated on a 3.64 Acre lot. It includes 64 2beds/1bath units and 24 1bed/1bath units with an average unit size of 680 sf, and private patio or balcony for each unit. The property features a fully equipped fitness center, a solar heated swimming pool with sundeck, onsite laundry facility with 8 sets of washers and dryers, security cameras, among other modern amenities. With its lush tropical grounds, the Olive Tree Apartments offers tranquility while being in a convenient location close to 280 freeway, Kaiser Permanente Santa Clara Medical Center, Apple Park, and De Anza College, etc.

This is an opportunity for a potential buyer to own a 1/6th (16.667%) share of an undivided partnership interest in Olive Tree Apartments. The property has been in the same partnership for decades, and enjoyed almost 0% vacancy until 2020. Potential buyers will get to a chance to own a Silicon Valley trophy asset at current NOI with huge upside and great value added potential!

Offer Acceptance is subject to all partners approval. Cash offers only. Please submit LOI along with proof of funds. The partnership agreement shall be drafted and reviewed by an attorney, and approved by all partners.

Showings by appointment only.

Offering Memorandum
Due Diligence

Highlights

  • Building Size

    63,024 square feet

  • Lot Size

    158,500 square feet (3.64 acres)

  • Year Built

    1973

  • Zoning

    R3

  • Use

    Multifamily

  • Freeway Access

    Convenient and easy access to freeways 280

  • Bus Stop

    Walking distance to major bus stops and public transportation nodes

  • Solar

    Solar panels installed...keeps pool warm

Location

Sunnyvale has long enjoyed a plum spot at the center of the Bay Area’s evolution from agriculture, to aerospace and defense, to technology. Its location strikes the perfect balance – a mild, sunny climate with easy access to metropolitan amenities and abundant natural beauty.

Sunnyvale is the seventh largest city in the Bay Area. It is the center of technology and innovation, but also a town of quiet family neighborhoods, strong schools and a diverse community of people.

Sunnyvale’s prime location in Silicon Valley offers access to one of the most vigorous, cutting-edge business environments in the world. Sunnyvale is the heart of Silicon Valley, and is recognized globally as a city that enables entrepreneurship. The tradition of service, performance and efficient municipal management continues to make Sunnyvale an attractive place to do business. The city’s flexibility enables businesses to create and grow in the face of change by supporting business processes and technologies to help businesses bring products to market in a timely manner. Sunnyvale believes in partnering with the business community to support the economic vitality and diversity that supports Sunnyvale’s business ecosystem.

The City’s park and recreation system boasts 23 parks; facilities for golf, tennis and swimming; a library; and an arts complex. Sunnyvale’s historic downtown, home to a variety of local eateries and merchants, hosts frequent art festivals, concerts and a year-round farmers’ market.

Almost 8,000 local businesses provide a rich mixture of goods and services, including manufacturing, retail and R&D.

But while it’s true that this amazing location has always been a big draw, Sunnyvale takes immense pride in the thoughtful leadership and dedication to community that has made Sunnyvale the true heart of Silicon Valley.

Sunnyvale, CA Demographics