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… Read More 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. Read Less
Courtesy of Compass, Nate Gustavson 415-786-9410
Listing Snapshot
Days Online
0
Last Updated
Property Type
Five Or More Units
Square Ft.
18,557
Lot Size
0.51 Acres
Year Built
1957
MLS Number
ML82059841
30 Days Snapshot Of 94061
$2.08M
0%
(avg) sold price
25
+25%
homes sold
16
-38%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 22241.00, Max Area Units: Square Feet, Lot is 0.51058310376492 acres
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