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Listed by Nate Gustavson • Compass
$ 6,250,000
Est. payment /mo
Active
309-315 Oak Avenue Redwood City, CA 94061
11,600 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,600 sqft
Price per Sqft $538
MLS Listing ID ML82007546
HOA Y/N No
Year Built 1956
Lot Size 0.441 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Nate Gustavson & Cameron Foster of Compass Commercial is pleased to welcome you to The Oak Court Apartments, 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.
Location
State CA
County San Mateo
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s)
Flooring Laminate
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
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