309-315 Oak Avenue, REDWOOD CITY, CA 94061

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309-315 Oak Avenue, REDWOOD CITY, CA 94061

(Closed)

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Listed by: Nate Gustavson - Compass

Closed

est.$6,000,000/month.

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beds. baths. 11,600 Sqft.

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This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Mortgage Broker

Ray Avanzino
Polaris Capital Partners
Ray@polariscappartners.com
(650) 576-6531
NMLS# 288504
Company NMLS# 01391664

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or Call Now: (650) 576-6531

309-315 Oak Avenue, REDWOOD CITY, CA 94061

$6,000,000

Closed

est.$6,000,000/month.

Start My Approval

beds baths 11,600 Sq.ft.

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Property details for 309-315 Oak Avenue, REDWOOD CITY, CA 94061

The Oak Court Apartments are 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.

Broker details: Compass

Listed by: Nate Gustavson
Co-listing Broker: Compass
Co-listing Agent: Cameron Foster
Buyer Office: PAGCB
Buyer Agent: Nate Gustavson
Co-Buyer Office: PAGCB
Co-Buyer Agent: Cameron Foster