| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 69th | Fair |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 267 W California Ave, Sunnyvale, CA, 94086, US |
| Region / Metro | Sunnyvale |
| Year of Construction | 2002 |
| Units | 23 |
| Transaction Date | 1998-08-05 |
| Transaction Price | $1,100,000 |
| Buyer | STONEY PINE CHARITIES HOUSING CORP |
| Seller | TIMM LILLIAN R |
267 W California Ave Sunnyvale Multifamily Investment
Neighborhood occupancy trends sit in the low-90s with a renter-occupied share near half, supporting steady leasing fundamentals according to WDSuite’s CRE market data.
Located in Sunnyvale’s Urban Core, the property sits in a neighborhood rated B+ and positioned above the metro median (rank 123 of 344). Amenity access is mixed: grocery and parks density track in the top quartile nationally (both 97th percentile), while cafés and pharmacies are relatively limited. For investors, this mix points to daily-needs convenience with fewer discretionary storefronts immediately nearby.
Renter demand is underpinned by a sizable tenant base. The neighborhood’s renter-occupied share is near half of housing units, and within a 3-mile radius renters account for roughly three in five households. Combined with neighborhood occupancy in the low-90s, this depth supports leasing stability and ongoing interest in well-maintained product.
Within a 3-mile radius, population grew over the last five years and households increased at a faster pace, with projections calling for additional population growth and a larger household count over the next five years. Smaller average household size is also anticipated, which typically expands the renter pool and supports occupancy stability for multifamily.
Income levels in the immediate area are high, and neighborhood home values are elevated (99th percentile nationally), indicating a high-cost ownership market. In this context, multifamily often benefits from reinforced renter reliance and solid renewal potential, while a rent-to-income profile around one-fifth points to manageable affordability pressure that can aid retention and pricing discipline for professionally managed assets.
Vintage matters: most nearby stock skews earlier (average 1991), whereas this asset was built in 2002. Newer-than-average construction can help competitive positioning versus older buildings, though investors should still plan for ongoing systems modernization or targeted repositioning to meet current renter expectations.
Neighborhood safety metrics are mixed. Relative to the San Jose–Sunnyvale–Santa Clara metro (344 neighborhoods), the area ranks in the lower half for crime, indicating it trails metro averages. Nationally, overall safety sits below the median (roughly the 34th percentile), while property crime trends are closer to the national middle and violent crime measures track below national norms.
Recent year-over-year figures indicate an uptick in violent incidents, while property crime has been comparatively steadier. Investors typically account for these conditions through operational measures such as lighting, access control, and resident engagement, and by underwriting to reflect neighborhood-level trends rather than block-level assumptions.
The surrounding employment base is anchored by technology and aerospace offices within a short commute, supporting workforce housing demand and resident retention for nearby multifamily. The list below highlights nearby offices that help drive weekday inflows and sustained leasing.
- Apple - Benecia 02 — technology offices (1.0 miles)
- Comcast Silicon Valley — technology & media offices (1.5 miles)
- Symantec Corporation — cybersecurity offices (1.6 miles)
- Symantec — cybersecurity (1.6 miles) — HQ
- Lockheed Martin Space Systems — defense & aerospace offices (2.3 miles)
267 W California Ave is a 23-unit, 2002-vintage asset positioned in a high-income, high-cost ownership pocket of Sunnyvale. Neighborhood occupancy in the low-90s and a renter-occupied share near half point to steady leasing fundamentals, while within 3 miles, household growth and projected renter pool expansion support long-term demand. Elevated home values reinforce reliance on multifamily housing, which can aid renewal rates and pricing discipline for well-located, professionally managed product.
Construction newer than nearby averages (2002 vs. early-1990s local norm) provides relative competitiveness against older stock, though selective system updates and amenity refreshes may be warranted to meet current renter preferences. According to CRE market data from WDSuite, neighborhood performance indicators are above the metro median on several livability measures, suggesting durable tenant appeal despite an amenity mix that is stronger in daily-needs retail than cafés or pharmacies.
- Occupancy in the low-90s and broad renter base support leasing stability and retention.
- High-cost ownership market sustains multifamily demand and pricing discipline.
- 2002 vintage offers competitive positioning versus older neighborhood stock with targeted value-add potential.
- Household growth within 3 miles and projected renter pool expansion underpin long-term demand.
- Risks: amenity mix tilts toward essentials (fewer cafés/pharmacies) and safety metrics trail metro averages; plan for prudent operations and underwriting.