128 Roosevelt Ave - Apartments FOR SALE


Redwood City, CA 94061- Roosevelt
$3,100,000 USD
408-483-5040
128 Roosevelt Ave, Redwood City, CA for Sale
$3,100,000 USD
Apartments - FOR SALE
1/20
null | 2.76% Cap Rate

128 Roosevelt Ave
Redwood City, CA 94061
Roosevelt


HIGHLIGHTS

  • Current rents average $1,277 per unit versus market rents of $2,750, providing significant value-add potential.
  • Walking distance to Downtown Redwood City's premier dining, shopping, and entertainment.
  • Offered for the first time in approximately 54 years, presenting a rare value-add opportunity in a high-demand market.
  • Proximity to Oracle, Meta, Google, Apple, Stanford Health Care, and Box supports strong renter demand.

OVERVIEW

Value-add opportunity in downtown Redwood City // LOW RENTS // BRING ALL OFFERS. Pleased to present 128 Roosevelt Avenue. Situated in the heart of Redwood City, 128 Roosevelt Avenue is a 10 unit apartment community offering a compelling value-add investment opportunity in one of the Peninsulas most supply-constrained rental markets. Built in 1951, the property consists of ten (10) one-bedroom/one-bathroom residences encompassing approximately 6,976 building square feet on a 9,967 square foot parcel (per county records). The property has been held under the same ownership for over 50 years. This represents a rare opportunity to acquire a premier-location multifamily asset at an attractive basis with significant upside potential.

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$247 USD /SF

# OF UNITS

10

PRICE/UNIT

$310,000

CAP RATE

2.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,960 SF

ZONING

R-4

APN/PARCEL ID

053-094-120

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.