Redwood Apartments
33 Unit Apartment Building | $9,580,000 ($290,303/Unit) | 5.18% Cap Rate | Redwood City, CA 94063
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $9,580,000
- Property Type
-
Multifamily
- Square Feet
- 26,356 SF
Listing Contacts
Robert Johnston
Verified Profile
Adam Levin
Verified Profile
- Property Info
Property Overview
Redwood Apartments is a stunning 33-unit apartment community located in the thriving city of Redwood City, California.
Situated on a 28,584 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 26,356 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property also offers tenants private covered parking and a shared on-site laundry facility.
The subject property is located minutes from the lively Downtown Redwood City which offers tenants and residents a myriad of high-end shopping, dining and entertainment options. The Redwood City Caltrain Station, offering Baby Bullet services is also within close by and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. 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, Redwood Apartments presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Situated on a 28,584 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 26,356 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property also offers tenants private covered parking and a shared on-site laundry facility.
The subject property is located minutes from the lively Downtown Redwood City which offers tenants and residents a myriad of high-end shopping, dining and entertainment options. The Redwood City Caltrain Station, offering Baby Bullet services is also within close by and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. 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, Redwood Apartments presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 3
- Lot Size (sq. ft)
- 28,750 SF
- Units
- 33
Highlights
- Investors have the opportunity to acquire a well-situated asset in the dynamic and desirable Redwood City location.
- Redwood Apartments offers tenants beautifully designed two-bedroom and one-bedroom floor plans.
- The subject property is located within minutes of vibrant Downtown Redwood City, home to a myriad of highend shopping, dining & entertainment options.
- The subject property offers tenants and residents convenient access to transportation corridors and services.
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