Property Details
About this Property
Marketing package available upon request. 100% occupancy and collections. CAP Rate: 4.01% Current, 4.52% Proforma. GIM: 16.43 Current, 15.11 Proforma. $33,368 monthly gross income w/upside. Cypress Place Apartments is a wonderful apartment complex with 14 exceptionally large units. It has 6 one-bed/one-bath units each with 1 patio/balcony and 8 two-bed/one-bath units each with 2 patios/balconies. All units have covered parking and a large storage unit. Exceptionally well maintained by long term owner who is only the 2nd owner of the property. Property has copper plumbing and all dual pane windows and current ownership has spent over $370,000 on capital expenditures including complete renovation of 8 units, new electrical panels, roof and gutter replacement, new concrete parking area, exterior paint, and gated parking. Opportunity to add further value and increase income by continuing the repositioning of the property to the preferences of Silicon Valley technology employees.
MLS Listing Information
MLS #
ML81861082
MLS Source
MLSListings, Inc.
Interior Features
Kitchen
Countertop - Granite, Countertop - Stone, Pantry Cabinet
Appliances
Dishwasher, Oven Range - Electric
Flooring
Carpet, Laminate, Tile
Laundry
Coin Operated
Cooling
Ceiling Fan
Heating
Wall Furnace
Exterior Features
Roof
Composition
Foundation
Concrete Perimeter
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Common Parking Area, Covered Parking, Parking Area, Garage: 0 Car(s)
Elementary District
Redwood City Elementary
High School District
Sequoia Union High
Sewer
Public Sewer
Water
Public
Complex Amenities
Additional Storage, Community Security Gate, Other
Zoning
R4
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 14 | 14 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 900 | 2 | 1/0 | $2,495 | $2,618 | 8 |
| 2 | 700 | 1 | 1/0 | $1,900 | $2,127 | 6 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
115 Cypress St is a Residential Income in Redwood City, CA 94061. This 15,340 square foot property sits on a 0.344 Acres Lot and features – bedrooms & – full bathrooms. It is currently priced at $6,300,000 and was built in 1961. This address can also be written as 115 Cypress St, Redwood City, CA 94061.
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This listing information is up-to-date as of December 21, 2024. For the most current information, please contact Ismael Benhamida, (408) 373-6195
