Libra Apartment
22 Unit Apartment Building | $11,500,000 ($522,727/Unit) | 4.65% Cap Rate | Redwood City, CA 94062
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,500,000
- Property Type
-
Multifamily
- Square Feet
- 19,293 SF
Listing Contacts
Robert Johnston
Verified Profile
Adam Levin
Verified Profile
- Property Info
Property Overview
150 Harrison Ave is a stunning 22-unit apartment complex located in the thriving city of Redwood City, California.
Situated on a 21,800 square foot parcel of land, the subject property was originally constructed in 1961 and has a gross building area of approximately 19,293 square feet. The subject property offers its tenants beautifully designed studio, one-bedroom, and two-bedroom floor plans. 150 Harrison Ave has recently seen capital improvements creating modern, spacious apartments that features remodeled kitchens, remodeled bathrooms, premium appliances, WiFi enabled lighting with Amazon's Alexa support, recessed LED lighting, dual pane windows, engineered wood floors, highly desirable finishes, and a private balcony.
Nearby essential mass transit options offer direct access to all major Bay Area destinations. The Redwood City Caltrain Station, offering Baby Bullet services is within walking distance to the subject property and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. SamsTrans, the area's bus service, provides quick access to Redwood City's diverse Courthouse Square. The subject property is also across the street from a Whole Foods, Sequoia Station Shopping Mall and the lively Downtown Redwood City, home to a myriad of high-end shopping, dining and entertainment options. Theatre District, Shops on Broadway, dining, shopping and music venues. In addition to excellent public transportation options, residents enjoy easy access to U.S. Route 101, Interstate 280, the San Mateo-Hayward Bridge and the Dumbarton Bridge.
The investment appeal of this asset is driven by Redwood City's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of San Francisco's Bay Area, 150 Harrison Ave presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, and entertainment options.
Situated on a 21,800 square foot parcel of land, the subject property was originally constructed in 1961 and has a gross building area of approximately 19,293 square feet. The subject property offers its tenants beautifully designed studio, one-bedroom, and two-bedroom floor plans. 150 Harrison Ave has recently seen capital improvements creating modern, spacious apartments that features remodeled kitchens, remodeled bathrooms, premium appliances, WiFi enabled lighting with Amazon's Alexa support, recessed LED lighting, dual pane windows, engineered wood floors, highly desirable finishes, and a private balcony.
Nearby essential mass transit options offer direct access to all major Bay Area destinations. The Redwood City Caltrain Station, offering Baby Bullet services is within walking distance to the subject property and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. SamsTrans, the area's bus service, provides quick access to Redwood City's diverse Courthouse Square. The subject property is also across the street from a Whole Foods, Sequoia Station Shopping Mall and the lively Downtown Redwood City, home to a myriad of high-end shopping, dining and entertainment options. Theatre District, Shops on Broadway, dining, shopping and music venues. In addition to excellent public transportation options, residents enjoy easy access to U.S. Route 101, Interstate 280, the San Mateo-Hayward Bridge and the Dumbarton Bridge.
The investment appeal of this asset is driven by Redwood City's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of San Francisco's Bay Area, 150 Harrison Ave presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, and entertainment options.
Property Details
- Class
- C
- Year Built
- 1961
- Stories
- 3
- Lot Size (sq. ft)
- 21,780 SF
- Units
- 22
Highlights
- Exceptional Turn-Key Investment Opportunity - Investors have the opportunity to acquire an extensively renovated asset in Redwood City.
- Over $1.1M in Recent Capital Improvements - The subject property has recently undergone significant exterior and interior renovations.
- Desirable Unit Mix - 150 Harrison Ave offers tenants beautifully-designed two-bedroom, one-bedroom and studio floor plans.
- Convenient Community Amenities - The subject property offers tenants and residents access to covered parking and on-site laundry facilities.
- Potential Seller Financing Available - Seller is offering to carry a portion of financing terms in the 2nd position.
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