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$ 1,945,000
$ 1,995,000 2.5%
Est. payment | /mo
5,501 Sqft Lot
$ 1,945,000
$ 1,995,000 2.5%
Est. payment | /mo
5,501 Sqft Lot
Key Details
Sold Price $1,945,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81997635
Year Built 1964
Annual Tax Amount $22,170
Lot Size 5,501 Sqft
Property Description
Prime 5-unit apartment building. Excellent unit mix: (3) 2+1, (2) 1+1. 5.78% DAY ONE CAP RATE. 11.97 DAY ONE GRM. Outstanding cash flow and strong in-place RUBS & laundry income. Ideally located west of the El Camino Real in close proximity to all the dining, shopping & entertainment amenities of downtown Redwood City. Strategically positioned between San Francisco and San Jose, Redwood City continues to be one of the most dynamic and rapidly growing cities on the mid-Peninsula. The area has experienced significant expansion, with an influx of major technology companies and a thriving downtown core. In recent years, downtown Redwood City has undergone a significant transformation, solidifying its status as a premier destination for businesses, residents, and visitors. This is part of a 29 unit portfolio sale consisting of 5 buildings, available as a portfolio or separately in any combination: 3786 Rolison Road, Redwood City - 12 Units, 154 Poplar Avenue, Redwood City - 5 Units, 505 Pierce Road, Menlo Park: 5 Units, 513 Pierce Road, Menlo Park - 5 Units, 501 Pierce Road, Menlo Park - Duplex. All properties on MLS.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R3
Interior
Cooling None
Exterior
Roof Type Flat
Building
Water Public
Schools
School District Other
Others
Special Listing Condition Standard
Listed by Matthew Thomson • Compass
Bought with Larry Aikins • Terrace Associates
Bought with Larry Aikins • Terrace Associates