486 Beech ST Open House Save Request In-Person Tour Request Virtual Tour
Redwood City,CA 94063
OPEN HOUSE
Fri Nov 07, 11:00am - 1:00pm
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82026575
Year Built 1962
Annual Tax Amount $54,705
Lot Size 8,812 Sqft
Property Description
Exceptional 16-unit multifamily property located just three blocks from Downtown Redwood City, one of the Peninsulas most dynamic and rapidly growing rental markets. Built in 1962 and totaling approximately 13,582 square feet on an 8,800 square foot lot, the property features sixteen (16) spacious one-bedroom/one-bathroom units averaging about 520 square feet each. --- Every unit is individually metered for electricity and has been upgraded with BRAND NEW Square-D Electrical Sub-panels and NEW Dual-pane Windows, providing efficient operation and reduced maintenance costs. --- Recent building upgrades include a hot tar torch-down roof installed in 2007 (20+ yrs estimated remaining usable life), and owned coin-op laundry machines, tenant paid storage and parking for additional income. --- The location is highly desirable, just a short walk to the restaurants, shops, and entertainment of Downtown Redwood City, as well as Caltrain for convenient access to both San Francisco and San Jose. -- Combining strong in-place cash flow with a CURRENT CAP RATE of 5.45% and GRM of 11.48, 486 Beech Street gives the investor immediate value-add potential, in one of the Bay Area's a prime central locations.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R-3
Interior
Heating Electric,Wall Furnace
Cooling None
Exterior
Roof Type Bitumen,Flat
Building
Lot Description Level
Water Public
Schools
Elementary Schools Hoover
Middle Schools John F. Kennedy
High Schools Sequoia
School District Other
Others
Special Listing Condition Standard