14501480 Hess Road, Redwood City, CA 94061
List Price: $8.5M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1957
Lot Size: 22,241 sq ft
Annual Property Tax: $92,999
MLS Number: ML82059841
About This Property
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.
Listing provided by: Nate Gustavson DRE #01898316 (415) 874-5000 nate@gustavsongroup.com, Compass
Source: CRMLS, MLS #: ML82059841
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