Don't even consider it..
Cathay Lotus is an absolute slum, operated by a slumlord of a landlord. The property is in a general state of disrepair, and when I contacted the landlord to repair broken appliances, he literally laughed in my face. The only option given are 9 month leases; this allows them to raise your rent quicker. When I first moved in here a couple years ago the attraction was that it was cheap due to property age, It's pretty humorous to find them quoting a "market price" based on new, nice apartments.
To be specific and objective, the rent for a 1bd apartment in this old and busted apartment with horrible management is $30 less then the maximum rent dictated by the city of Sunnyvale.
Summary: There are plenty of better options that are currently the same price. At one time ($300 a month ago) there were upsides, no longer. Avoid at all costs.