True turnkey apartment building in excellent Redwood City location. Attractive Unit Mix: (2) Two-Bedroom / One Bath Units & (5) One-Bedroom / One-Bath Units. Four of the seven units are renovated. Several recent capital improvements including New roof, upgraded electrical meeting current insurance requirements, new catwalk, new exterior paint, new drainage & new water heater.
Day One 4.53% Cap Rate (true Cap Rate w/ fair underwriting). Zero deferred maintenance. Outstanding west Redwood City location walking distance to Whole Foods. All tenants have extra storage space and sufficient parking. Close proximity to all the high-end shopping, dining and entertainment amenities of robust & booming downtown Redwood City. Easy access to Woodside Road and Highways 101 & 280. One of the strongest rental submarkets on the Peninsula led by a high-class tenant profile paying premium rents.
Under contract
$3,100,000
Madison Redwoodcity, Redwood City, CA 94061
--beds
--baths
5,944sqft
Est.:
Five Or More Units
Built in 1958
-- sqft lot
$2,973,800 Zestimate®
$522/sqft
$-- HOA
What's special
New exterior paintNew roofNew drainageNew catwalk
- 32 days
- on Zillow |
- 81 |
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