1760 Bay Rd - Apartments FOR SALE


East Palo Alto, CA 94303
$8,750,000 USD
650-600-7453
1760 Bay Rd, East Palo Alto, CA for Sale
$8,750,000 USD
Apartments - FOR SALE
1/2
null | 3.47% Cap Rate

1760 Bay Rd
East Palo Alto, CA 94303


HIGHLIGHTS

  • Invest in a stabilized Bay Area asset with long-term tenants, diverse unit mix, and excellent occupancy history at Aequitas Apartments.
  • Adjacent to Silicon Valley, home to major employers such as Google and Meta, and close to major roads such as the 101 Freeway and Dumbarton Bridge.
  • Capitalize on a 100% affordable housing opportunity with seller financing available with 25% down and 4% interest only for 10 years.
  • Short drives from nearby amenities such as Ikea, The Home Depot, Nordstrom Rack, Blue Bottle Coffee, The Apple Store, and Whole Foods Market.
  • Professionally managed, a recent inspection and repairs were made, plus all California SB 721 inspections were completed.

OVERVIEW

Michael Henshaw of Marcus & Millichap has been exclusively selected to market for sale Aequitas Apartments, a 40-unit residential community located at 1760 Bay Road in East Palo Alto, California. Seller financing is offered, with a 25% down payment at 4% interest for only 10 years with no prepayment. Situated on 1.03 acres, Aequitas Apartments was originally constructed in 1964 and offers approximately 22,350 rentable square feet, featuring a mix of studio, one-bedroom, and two-bedroom floor plans. This professionally managed, well-maintained complex's exteriors, courtyard, and landscaping are in pristine condition. The property is operated under the San Mateo County Affordable Housing use agreement per SB 1482, which states that 100% affordable housing properties are exempt from local rent control. Located in the heart of the Bay Area, Aequitas Apartments is a prime rental option for Peninsula residents, offering proximity to major employers, transportation corridors, shopping, dining, and entertainment.

FOR SALE DETAILS

PRICE

$8,750,000 USD

PRICE/SF

$391 USD /SF

# OF UNITS

40

PRICE/UNIT

$218,750

CAP RATE

3.47%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aequitas Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

101

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,867 SF

ZONING

R30000

APN/PARCEL ID

063-221-100

ASK ABOUT THIS PROPERTY

Michael HenshawMarcus & MillichapMore Info
650-600-7453

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

Michael HenshawMarcus & MillichapMore Info
650-600-7453

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