1450-1480 Hess Road, REDWOOD CITY, CA 94061

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1450-1480 Hess Road, REDWOOD CITY, CA 94061

$8,500,000 (Active)

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Listed by: Nate Gustavson - Compass

$$8,500,000

Active

est.$8,500,000/month.

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beds. baths. 18,557 Sqft.

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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

1450-1480 Hess Road, REDWOOD CITY, CA 94061

$8,500,000

Active

est.$8,500,000/month.

Start My Approval

beds baths 18,557 Sq.ft.

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Property details for 1450-1480 Hess Road, REDWOOD CITY, CA 94061

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.

Broker details: Compass

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