Skip to main content

Multifamily

2483 Middlefield Rd

2483 Middlefield Rd, Redwood City, CA 94063

Listing Price: $7,725,000

Cap Rate
3.63%
Number of Units
15
Occupancy
97.0%
Price/Unit
$515,000
Price/Gross SF
$580.74
Gross SF
13,302

Investment Overview

2483 Middlefield Rd features a turn-key fifteen (15) unit apartment building in thriving Redwood City, CA. Situated on a 0.25 acre parcel of land, the subject property was originally constructed in 1964 and has a gross building area of 13,302 square feet (per the county records). Since 2020, the property has undergone an extensive exterior and interior renovation with approximately one million dollars ($1m) of capital expenditures. The unit mix consists of fifteen (15) one-bedroom one-bathroom spacious floorplans with open concepts. The brand-new apartments showcase a modern design with premium Frigidaire appliances, recessed LED lighting, engineered laminate flooring, remodeled bathrooms and kitchens with snow white quartz countertops and WiFi enabled lighting with Amazon Alexa’s support. The bedrooms are all of generous size with ample closet space and natural light throughout. Some of the one-bedroom floorplans are larger offering spacious, private balconies. Moving to the exterior, the current ownership has installed a brand new Thermoplastic Polyolefin (TPO) and shingle roof, concrete driveway, new dual-pane windows and replaced all the former carport parking spaces with Chamberlain remoted-controlled garage doors (4 double-car garages, 7 single-car garages for a total of 15 garage spaces). Other new additions include a trendy wood plank façade fence out front with security cameras and new landscaping, wrought-iron patio railings with a wood plank façade and a brand new 600 amp electrical system. The property also offers a brand new fire alarm protection system and new bike racks, surrounded by a newly landscaped common courtyard area and coin-operated laundry with two washers and dryers. The property is conveniently located on the main commercial corridor of Middlefield Road steps from Costco across the street and walking distance to restaurants, cafes, shops, CalTrain Station and Box headquarters. Boasting a walk score of 87, tenants can easily accomplish their daily errands on foot. Additionally, Downtown Redwood City is just 0.7 miles away and, offers a wonderful selection of shopping, dining and entertainment options including Century Theaters, Philz Coffee and the weekend Farmer's Market. Redwood City hosts many annual special events such as the Salsa Festival, Art on the Square, Shakespeare in the Park, outdoor movies and more all set in an attractive, pedestrian-friendly district. 2483 Middlefield Road offers renters close proximity to many of the nation's top tech employers including Box, Inc., Google, Oracle, Electronic Arts, Inc. (EA), Stanford, Facebook, CiscoSystems, Visa, Sony, and many others. Nearby essential mass transit options offer direct access to all major Bay Area destinations. The Redwood City Caltrain Station, offering Baby Bullet services is close by and provides an inexpensive, hassle-free commute to major employment and entertainment centers in San Francisco, the Peninsula and the South Bay. SamTrans, the areas bus service, provides quick access to Redwood Citys diverse Courthouse Square, Theatre District, Shops on Broadway, dining, shopping as well as music venues. In addition to excellent public transportation options, residents enjoy easy access to U.S. Route 101 as well as to Interstate 280, Highway 92 and the San Mateo and Dumbarton Bridges. The investment appeal of this asset is driven by Redwood’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 2483 Middlefield Rd presents an attractive choice for Peninsula renters.

Investment Highlights

  • Trophy Property - New Thermoplastic Polyolefin Shingle Roof, Dual-Pane Windows, Electrical System, and Chamberlain Remote-Controlled Garage Doors
  • Luxurious Renovations for all Fifteen (15) 1bd/1ba Units - Providing Tenants with Spacious Floorplans, Private Balconies, and Individual Garages
  • New Fire Alarm Protection System, Tuscan Landscaping, and Concrete Driveway
  • 0.5 Mile to Downtown Redwood City - Which Offers Tenants High-End Shopping, Dining, and World Class Employers

Exclusively Listed By

Financing By

Multifamily

2483 Middlefield Rd

Listing Price: $7,725,000

Cap Rate
3.63%
Number of Units
15
Occupancy
97.0%
Price/Unit
$515,000
Price/Gross SF
$580.74
Gross SF
13,302

Investment Highlights

  • Trophy Property - New Thermoplastic Polyolefin Shingle Roof, Dual-Pane Windows, Electrical System, and Chamberlain Remote-Controlled Garage Doors
  • Luxurious Renovations for all Fifteen (15) 1bd/1ba Units - Providing Tenants with Spacious Floorplans, Private Balconies, and Individual Garages
  • New Fire Alarm Protection System, Tuscan Landscaping, and Concrete Driveway
  • 0.5 Mile to Downtown Redwood City - Which Offers Tenants High-End Shopping, Dining, and World Class Employers

Investment Overview

2483 Middlefield Rd features a turn-key fifteen (15) unit apartment building in thriving Redwood City, CA. Situated on a 0.25 acre parcel of land, the subject property was originally constructed in 1964 and has a gross building area of 13,302 square feet (per the county records). Since 2020, the property has undergone an extensive exterior and interior renovation with approximately one million dollars ($1m) of capital expenditures. The unit mix consists of fifteen (15) one-bedroom one-bathroom spacious floorplans with open concepts. The brand-new apartments showcase a modern design with premium Frigidaire appliances, recessed LED lighting, engineered laminate flooring, remodeled bathrooms and kitchens with snow white quartz countertops and WiFi enabled lighting with Amazon Alexa’s support. The bedrooms are all of generous size with ample closet space and natural light throughout. Some of the one-bedroom floorplans are larger offering spacious, private balconies. Moving to the exterior, the current ownership has installed a brand new Thermoplastic Polyolefin (TPO) and shingle roof, concrete driveway, new dual-pane windows and replaced all the former carport parking spaces with Chamberlain remoted-controlled garage doors (4 double-car garages, 7 single-car garages for a total of 15 garage spaces). Other new additions include a trendy wood plank façade fence out front with security cameras and new landscaping, wrought-iron patio railings with a wood plank façade and a brand new 600 amp electrical system. The property also offers a brand new fire alarm protection system and new bike racks, surrounded by a newly landscaped common courtyard area and coin-operated laundry with two washers and dryers. The property is conveniently located on the main commercial corridor of Middlefield Road steps from Costco across the street and walking distance to restaurants, cafes, shops, CalTrain Station and Box headquarters. Boasting a walk score of 87, tenants can easily accomplish their daily errands on foot. Additionally, Downtown Redwood City is just 0.7 miles away and, offers a wonderful selection of shopping, dining and entertainment options including Century Theaters, Philz Coffee and the weekend Farmer's Market. Redwood City hosts many annual special events such as the Salsa Festival, Art on the Square, Shakespeare in the Park, outdoor movies and more all set in an attractive, pedestrian-friendly district. 2483 Middlefield Road offers renters close proximity to many of the nation's top tech employers including Box, Inc., Google, Oracle, Electronic Arts, Inc. (EA), Stanford, Facebook, CiscoSystems, Visa, Sony, and many others. Nearby essential mass transit options offer direct access to all major Bay Area destinations. The Redwood City Caltrain Station, offering Baby Bullet services is close by and provides an inexpensive, hassle-free commute to major employment and entertainment centers in San Francisco, the Peninsula and the South Bay. SamTrans, the areas bus service, provides quick access to Redwood Citys diverse Courthouse Square, Theatre District, Shops on Broadway, dining, shopping as well as music venues. In addition to excellent public transportation options, residents enjoy easy access to U.S. Route 101 as well as to Interstate 280, Highway 92 and the San Mateo and Dumbarton Bridges. The investment appeal of this asset is driven by Redwood’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 2483 Middlefield Rd presents an attractive choice for Peninsula renters.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower