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146 Madison AVE Redwood City, CA 94061
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Key Details
Sold Price $3,000,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML82016541
Year Built 1958
Annual Tax Amount $34,376
Lot Size 7,000 Sqft
Property Description
True turnkey apartment building in excellent Redwood City location. Attractive Unit Mix: (2) Two-Bedroom / One Bath Units & (5) One-Bedroom / One-Bath Units. Four of the seven units are renovated. Several recent capital improvements including New roof, upgraded electrical meeting current insurance requirements, new catwalk, new exterior paint, new drainage & new water heater. Day One 4.53% Cap Rate (true Cap Rate w/ fair underwriting). Zero deferred maintenance. Outstanding west Redwood City location walking distance to Whole Foods. All tenants have extra storage space and sufficient parking. Close proximity to all the high-end shopping, dining and entertainment amenities of robust & booming downtown Redwood City. Easy access to Woodside Road and Highways 101 & 280. One of the strongest rental submarkets on the Peninsula led by a high-class tenant profile paying premium rents.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R3
Interior
Heating Wall Furnace
Cooling None
Exterior
Roof Type Composition,Shingle
Building
Water Public
Schools
School District Other
Others
Special Listing Condition Standard
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Bought with Regan Cherrington KW Advisors
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