$ 2,988,000
-
$2,988,000
Price -
0
Bed -
0
Bath -
3,293
SqFt
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Open House Times
- Thu. Jun. 04 at 12:00pm to 2:00pm
- Sun. Jun. 07 at 2:00pm to 4:00pm
About the Listing ML5099692 - ML5092319
Magnify is pleased to present 403 Vera Ave, a turnkey property walking distance from downtown Redwood City with over $197,000 in gross income (4.7% cap rate). The building was constructed in 1949 and remodeled to the studs in 2022-2023 along with a new-construction ADU. The property features open floor plans with (1) Two-bed+Den/Two-bath and (4) One-bed/One-bath units. Positioned on a prime corner lot with great frontage, each unit offers a spacious backyard or balcony with a large rooftop deck. Amenities include in-unit washer/dryer, air conditioning, dishwashers & luxury kitchens/baths to enhance tenant appeal and retention. The property has undergone substantial capital improvements to deliver strong in-place rents with modernized systems. All units include an electrical re-wiring with 100-amp subpanels, copper repipe with ABS drain/sewer lines, new-construction dual pane windows, fire sprinkling with a 24/7 monitored alarm system, & condo-quality finishes. The building has a new 400 amp main panel (2022), exterior stucco (2022), low maintenance landscaping (2023), and a newer roof (2015) for minimal long-term maintenance. It is also in close proximity to Stanford, Atherton, Palo Alto, & Menlo Park making it a premier Peninsula asset with strong income & high growth potential.
Listing Highlights
Status
Active
Days on Site
5
Property Type
Commercial Sale
MLS ®
ML82048912
Year Built
1949
Total Square Footage
3,293
Lot/Acreage
0.13
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Electric
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 4
- Zoning: R4
- Roof: Composition,Shingle
- Others:
- Sewer:
Financial Details
- Tax Amount: $32,838
- Taxes w/Assessments: N/A
- Tax/Property ID: 053083070
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
403 Vera Ave Redwood City, CA 94061
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