Listed by Nate Gustavson • Compass
$5,000,000
Est. payment /mo
13,582 SqFt
Open Fri 11AM-1PM
486 Beech Street Redwood City, CA 94063
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Open House
Fri Nov 07, 11:00am - 1:00pm
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,582 sqft
Price per Sqft $368
MLS Listing ID ML82026575
HOA Y/N No
Year Built 1962
Lot Size 8,811 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Exceptional 16-unit multifamily property located just three blocks from Downtown Redwood City, one of the Peninsulas most dynamic and rapidly growing rental markets. Built in 1962 and totaling approximately 13,582 square feet on an 8,800 square foot lot, the property features sixteen (16) spacious one-bedroom/one-bathroom units averaging about 520 square feet each. --- Every unit is individually metered for electricity and has been upgraded with BRAND NEW Square-D Electrical Sub-panels and NEW Dual-pane Windows, providing efficient operation and reduced maintenance costs. --- Recent building upgrades include a hot tar torch-down roof installed in 2007 (20+ yrs estimated remaining usable life), and owned coin-op laundry machines, tenant paid storage and parking for additional income. --- The location is highly desirable, just a short walk to the restaurants, shops, and entertainment of Downtown Redwood City, as well as Caltrain for convenient access to both San Francisco and San Jose. -- Combining strong in-place cash flow with a CURRENT CAP RATE of 5.45% and GRM of 11.48, 486 Beech Street gives the investor immediate value-add potential, in one of the Bay Area's a prime central locations.
Location
State CA
County San Mateo
Interior
Heating Electric, Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Lot Description Level, Rectangular Lot
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