14501480 Hess RD, Redwood City, CA 94061
14501480 Hess RD, Redwood City, CA 94061
14501480 Hess RD, Redwood City, CA 94061
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$8,500,000
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0.51 Acres Lot
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14501480 Hess RD Redwood City, CA 94061

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Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82059841

HOA Y/N No

Year Built 1957

Annual Tax Amount $92,999

Lot Size 0.511 Acres

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.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning Commercial 5+ Multifamily

Interior

Heating Wall Furnace

Fireplace No

Exterior

Carport Spaces 17

Roof Type Composition,Shingle

Building

Water Public

Schools

Elementary Schools Other

Middle Schools John F. Kennedy

High Schools Woodside

School District Other

Others

Tax ID 053292030 & 053292130

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Nate Gustavson Compass #01898316

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14501480 Hess RD

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Herb Rim

Herb Rim

Realtor License ID: 01870707

+1(818) 699-9179

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