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In-PersonVirtual Tour
$ 6,250,000
Est. payment | /mo
0.44 Acres Lot
$ 6,250,000
Est. payment | /mo
0.44 Acres Lot
OPEN HOUSE
Wed May 28, 11:00am - 1:00pm
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82007546
HOA Y/N No
Year Built 1956
Annual Tax Amount $68,969
Lot Size 0.440 Acres
Property Description
Nate Gustavson & Cameron Foster of Compass Commercial is pleased to welcome you to The Oak Court Apartments, a rare twenty (20) unit multifamily investment opportunity ideally situated in the heart of Redwood City. This well-maintained property spans two adjacent parcels and features a highly desirable unit mix: eighteen (18) spacious 1-bedroom/1-bath units, one (1) 3-bedroom/2-bath unit with a private patio, and one efficient studio unit. The buildings offer a combined 11,600 square feet of rentable space on a 19,190-square-foot lot, with attractive amenities including a secured fenced-in pool, owned coin-operated laundry facilities, and twenty (20) on-site parking spaces (19 covered). Constructed in 1956 and thoughtfully updated over timeincluding a new Thermo Plastic Olefin (TPO) roof in 2017The Oak Court Apartments provide residents with comfortable living and convenient access to nearby essentials. Each unit is individually metered for gas and electricity, adding efficiency and flexibility for future management. With a strong in-place income of over $548,000 annually, a 5.50% current cap rate, and attractive rental upside potential, this turnkey asset is perfect for both seasoned investors and 1031 exchange buyers.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R40000
Interior
Heating Wall Furnace
Fireplace No
Exterior
Carport Spaces 19
Roof Type Elastomeric
Total Parking Spaces 1
Building
Water Public
Schools
Elementary Schools Roosevelt
Middle Schools John F. Kennedy
High Schools Woodside
School District Other
Others
Tax ID 053271160
Special Listing Condition Standard
Listed by Nate Gustavson • Compass