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Key Details
Sold Price $1,570,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,522 sqft
Price per Sqft $622
MLS Listing ID ML81761780
Sold Date 09/30/19
HOA Y/N No
Year Built 1949
Lot Size 5,623 Sqft
Acres 0.1291
Property Description
403 Vera Ave. provides an exceptional value-add opportunity for a peninsula investor. Value addition through landscaping, interior renovations, exterior renovations, and rent roll increases. Redwood city is not a rent-controlled market, therefore the substantial upside in rents can be capitalized upon quickly. The functional layout of 403 Vera Avenue provides a garage space for each unit beneath a terrace shared by the top two units. The long backyard provides recreational space for each tenant. Large corner lot. Located in the heart of the peninsula, Vera is perfectly situated for apartment tenants who work at one of the myriad of local tech companies. Redwood City is in incredibly high demand for its adjacent location to ultra-wealthy zip codes and convenient location to all that the San Francisco Bay Area offers. Very close proximity to major Highways 82, El Camino Real, and 101. Located 5 minutes from Downtown Redwood City and the Theatre's, museums and restaurants that it offers.
Location
State CA
County San Mateo
Area 699 - Not Defined
Interior
Heating Forced Air, Wall Furnace
Cooling None
Fireplace No
Appliance Gas Cooktop, Refrigerator, Self Cleaning Oven
Exterior
Garage Off Street
Garage Spaces 4.0
Garage Description 4.0
Roof Type Shingle
Accessibility None
Parking Type Off Street
Total Parking Spaces 4
Building
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
Elementary Schools Other
Middle Schools John F. Kennedy
High Schools Sequoia
School District Other
Others
Tax ID 053083070
Financing Cash
Special Listing Condition Standard
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Bought with Eric Katz • Colliers Parrish International
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960