Homes for sale - 486 Beech ST, Redwood City, CA 94063

Additional details

JLee Broker

[email protected] +1(650) 857-1000

Listed by Nate Gustavson • Compass

$5,000,000

Est. payment - /mo

1 Bed

1 Bath

13,582 SqFt

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UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 13,582 sqft

Price per Sqft $368

MLS Listing ID ML82026575

Bedrooms 1

Full Baths 1

Year Built 1962

Lot Size 8,811 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

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. --- The property has a hot tar torch-down roof installed in 2007, landlord-owned coin-op laundry machines, and 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

Area Lenolt Etc.

Zoning R-3

Rooms

Kitchen Countertop - Formica, Oven Range - Electric, Refrigerator

Interior

Heating Electric, Wall Furnace

Cooling None

Flooring Carpet, Laminate, Vinyl / Linoleum

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Carport , Covered Parking

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Bitumen,Flat / Low Pitch

Building

Lot Description Grade - Level, Regular

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Tax ID 053-152-150

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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486 Beech ST Redwood City, CA 94063

JLee Broker

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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