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Element Apartment Homes 1270 Coronado Dr 26 Unit Apartment Building $16,915,657 CAD ($650,602 CAD/Unit) 5% Cap Rate Sunnyvale, CA 94086
Investment Highlights
- Significant Capital Improvements: Approximately $1.5 million invested, including upgraded electrical subpanels, new roof, seismic retrofit, etc
- 2.5 Miles from OpenAI’s New Silicon Valley Campus: OpenAI signed a 10-year lease for approximately 439,000 square feet
- Premier Silicon Valley Location: Proximity to Apple, Google, NVIDIA, LinkedIn, OpenAI
- Strong Sunnyvale Rent Growth: Apartment rents increased 7.1% year-over-year in Q2 2026
- Private In-Unit Laundry: Every apartment features a private washer and dryer
- Desirable Community & Unit Mix: One- and two-bedroom floor plans with a swimming pool, landscaped courtyard, BBQ/picnic areas
Executive Summary
Element Apartment Homes presents the opportunity to acquire an extensively renovated, 100% occupied 26-unit apartment community located in Sunnyvale, California, in the heart of Silicon Valley.
The property has undergone a comprehensive renovation program with approximately $1.5 million invested in capital improvements, including upgraded electrical subpanels, a new roof, seismic retrofit, dual-pane windows, copper plumbing and extensive interior improvements, with 25 of 26 units renovated. Every apartment features a private in-unit washer and dryer, a highly differentiated amenity within the competitive set. The extensive improvements result in limited remaining near-term capital requirements.
Element continues to offer meaningful rental upside. Sunnyvale apartment rents increased 7.1% year-over-year in Q2 2026, significantly outperforming the 2.1% statewide average. Continued market rent growth and upside in the existing rent roll provide additional opportunity while maintaining 100% occupancy.
Element is strategically located within one of Silicon Valley’s leading technology and AI employment corridors. The property is approximately 2.5 miles from OpenAI’s new Silicon Valley campus, where OpenAI signed a 10-year lease for approximately 439,000 square feet across five buildings. Element also offers convenient access to Apple, Google, NVIDIA, LinkedIn and many of the region’s other major technology employers.
The community features one- and two-bedroom floor plans, a swimming pool, landscaped courtyard, BBQ and picnic areas, and 38 parking spaces. With significant capital improvements completed, 100% occupancy, strong rent growth and continued technology and employment growth throughout Silicon Valley, Element offers an attractive combination of stabilized operations and future upside.
The property has undergone a comprehensive renovation program with approximately $1.5 million invested in capital improvements, including upgraded electrical subpanels, a new roof, seismic retrofit, dual-pane windows, copper plumbing and extensive interior improvements, with 25 of 26 units renovated. Every apartment features a private in-unit washer and dryer, a highly differentiated amenity within the competitive set. The extensive improvements result in limited remaining near-term capital requirements.
Element continues to offer meaningful rental upside. Sunnyvale apartment rents increased 7.1% year-over-year in Q2 2026, significantly outperforming the 2.1% statewide average. Continued market rent growth and upside in the existing rent roll provide additional opportunity while maintaining 100% occupancy.
Element is strategically located within one of Silicon Valley’s leading technology and AI employment corridors. The property is approximately 2.5 miles from OpenAI’s new Silicon Valley campus, where OpenAI signed a 10-year lease for approximately 439,000 square feet across five buildings. Element also offers convenient access to Apple, Google, NVIDIA, LinkedIn and many of the region’s other major technology employers.
The community features one- and two-bedroom floor plans, a swimming pool, landscaped courtyard, BBQ and picnic areas, and 38 parking spaces. With significant capital improvements completed, 100% occupancy, strong rent growth and continued technology and employment growth throughout Silicon Valley, Element offers an attractive combination of stabilized operations and future upside.
Property Facts
| Price | $16,915,657 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $650,602 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.84 AC |
| Cap Rate | 5% | Building Size | 19,230 SF |
| Gross Rent Multiplier | 11.8 | Average Occupancy | 100% |
| No. Units | 26 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.98/1,000 SF |
| Zoning | R3 | ||
| Price | $16,915,657 CAD |
| Price Per Unit | $650,602 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 11.8 |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 19,230 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.98/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Kitchen
- Range
Site Amenities
- Pool
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 300 - 690 |
| 2+1 | 10 | - | 890 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 161-17-013 | Improvements Assessment | $4,175,310 CAD |
| Land Assessment | $12,038,267 CAD | Total Assessment | $16,213,576 CAD |
Property Taxes
Parcel Number
161-17-013
Land Assessment
$12,038,267 CAD
Improvements Assessment
$4,175,310 CAD
Total Assessment
$16,213,576 CAD
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Element Apartment Homes | 1270 Coronado Dr
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