14501480 Hess Road, Redwood City, CA 94061
- $8,500,000
- List Price
- $8,500,000
- Status
- ACTIVE
- MLS#
- ML82059841
- Year Built
- 1957
- Lot Size
- 22,241
- Acres
- 0.51
- Days on Market
- 17
- Property Type
- Commercial
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.
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Additional Information
- Taxes
- $92,999
- Heat
- Wall Furnace
- Cooling
- Yes
- Roof
- Composition, Shingle
- Water
- Public
- School District
- Other
- Elementary School
- Other
- Middle School
- John F. Kennedy
- High School
- Woodside
- Attached Structure
- Detached
- Gross Scheduled Income
- $670,620
Listing courtesy of Listing Agent: Nate Gustavson (nate@gustavsongroup.com) from Listing Office: Compass.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.