Additional details

JLee Broker

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

Listed by Nate Gustavson, DRE #01898316 • Compass

$8,500,000

Est. payment - /mo

3 Beds

2 Baths

18,557 SqFt

Save

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 18,557 sqft

Price per Sqft $458

MLS Listing ID ML82059841

Bedrooms 3

Full Baths 2

Year Built 1957

Lot Size 0.511 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

14501480 Hess Road is a well-located 22-unit apartment community situated on two (2) parcels in Redwood Citys desirable Palm Park neighborhood. Offered at $8,500,000, the property consists of 22-units across approximately 18,557 square feet of building area on a 22,241-square-foot lot. The unit mix includes seventeen (17) 1-bedroom/1-bath units and five (5) 2-bedroom/1-bath units. --- The property offers an attractive combination of unit mix, parking, storage and tenant amenities, including four (4) enclosed garages, seventeen (17) carports, two (2) on-site laundry rooms with owned coin-operated machines, tenant storage, and a large owner workshop/storage room. Electric and gas are individually metered, and the property has Siemens circuit-breaker sub-panels and service equipment panels. SB-721 documentation, contractor report and pest report have been completed and are on file. --- The property generates approximately $670,620 in scheduled gross annual income, with a pro forma NOI of approximately $391,600, a 4.61% cap rate and 12.67 current GRM at the $8,500,000 asking price. Conveniently located near El Camino Real, shopping, dining, downtown Redwood City and major Peninsula employment centers, with access to Caltrain, Highway 101 and I-280.

Location

State CA

County San Mateo

Area Central Park Etc.

Zoning Commercial 5+ Multifamily

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Flooring Carpet, Laminate, Vinyl / Linoleum

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Attached Garage, Covered Parking

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Composition,Shingle

Building

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public, Sewer Available, Sewer Connected

Water Public

Others

Tax ID 053-292-030 & 053-292-130

Special Listing Condition Not Applicable

Read Less Info

Get More Information

JLee Broker

+1(650) 857-1000

Broker License ID: 00851314

Quick Search

1450-1480 Hess RD Redwood City, CA 94061

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

Get More Information