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$6,250,000

Est. payment - /mo

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0.44 Acres Lot

Pending

309315 Oak AVE Redwood City, CA 94061

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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

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Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

MLS Listing ID ML82007546

HOA Y/N No

Year Built 1956

Annual Tax Amount $68,969

Lot Size 0.440 Acres

Property Description

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.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning R40000

Interior

Heating Wall Furnace

Fireplace No

Exterior

Carport Spaces 19

Roof Type Elastomeric

Total Parking Spaces 1

Building

Water Public

Schools

Elementary Schools Roosevelt

Middle Schools John F. Kennedy

High Schools Woodside

School District Other

Others

Tax ID 053271160

Special Listing Condition Standard

Listed by Nate Gustavson Compass

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