1450-1480 Hess RD, Redwood City, CA 94061
1450-1480 Hess RD, Redwood City, CA 94061
1450-1480 Hess RD, Redwood City, CA 94061
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Sean Cooper

Sean Cooper

+1(408) 465-4305
Listed by Nate Gustavson • Compass, DRE#01898316
$8,500,000
Est. payment /mo
3 Beds
2 Baths
18,557 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 18,557 sqft

Price per Sqft $458

MLS Listing ID ML82059841

Bedrooms 3

Full Baths 2

Year Built 1957

Lot Size 0.511 Acres

Property Sub-Type Five or More Units

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 Central Park Etc.

Zoning Commercial 5+ Multifamily

Rooms

Other Rooms Storage, Other

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Flooring Carpet, Laminate, Vinyl / Linoleum

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Attached Garage, Covered Parking

Garage Spaces 4.0

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Composition,Shingle

Building

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public, Sewer Available, Sewer Connected

Water Public

Others

Restrictions Other

Tax ID 053-292-030 & 053-292-130

Security Features None

Special Listing Condition Not Applicable

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Sean Cooper
Sean Cooper

Agent CA DRE# 01984711

+1(408) 465-4305

2603 Camino Ramon, San Ramon, CA 94583, USA

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