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Address
115 Cypress ST Redwood City, CA
Price
$ 6,580,000
Property Attributes
  • MLS#ML81861082
  • TypeMulti-Family
  • CountySAN MATEO
  • CityRedwood City
  • AreaHorgan Ranch Etc.
  • Zip94061
  • Style
  • Price$ 6,580,000
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage15340
  • Lot Size0.34 Acres
Listing Provided Courtesy Of:
Ismael Benhamida with Compass.
Data Source:
MLSListings - 40 - CA
Property Description

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.

Price History
9/3/2021 Listed $6,580,000

General Features

# of Buildings 1
Accessibility None
Additional Rooms Storage
Age 60
Amenities Misc. Security Gate, Other
Association Amenities Additional Storage, Community Security Gate, Other
City REDWOOD CITY
City Limits (y/n) Yes
Complex Name Text Cypress Place Apartments
Construction Materials Wood Frame
Cooling Ceiling Fan
County San Mateo
Energy Features Ceiling Insulation, Double Pane Windows
Flooring Carpet, Laminate, Tile
Heating Wall Furnace
Listing Agent State License 01722847
MLS Area Horgan Ranch Etc.
Property SubType Five or More Units
Property Type Commercial Multi-Residential (5+ units)
Restrictions None
Roof Composition
Security Features Closed Circuit Monitoring (24-hour), Fire Alarm, Secured Garage / Parking, Security Fence, Security Lights
Special Listing Conditions Not Applicable
Status Active
Utilities Individual Electric Meters, Individual Gas Meters, Public Utilities
Virtual Tour https://CypressPlaceApts.com/idx
Virtual Tour https://CypressPlaceApts.com/
Water Individual Water Meter, Public
Year Built 1961
Zoning Text R4

Interior Features

Kitchen Countertop - Granite, Countertop - Stone, Dishwasher, Oven Range - Electric, Pantry Cabinet, Refrigerator
Laundry Features Coin Operated
Living Sqft 15340
Unit 1 Rent 2495
Unit 2 Approx Square Footage 700
Unit 2 Number Of Bedrooms 1

Exterior Features

Building Area Total 15340
Foundation Details Concrete Perimeter
Lot Acres 0.3444
Lot Description Flag Lot
Lot Size Area 15000.00
Lot Size Units Square Feet
Maximum Lot Size 15000.00
Meters Master Water, Separate Electric, Separate Gas
Parking Features Assigned Spaces, Common Parking Area, Covered Parking, Parking Area
Sewer/Septic Sewer - Public, Sewer Connected
Yard/grounds Balcony / Patio, Courtyard, Drought Tolerant Plants, Fenced, Low Maintenance, Sprinklers - Auto, Storage Shed / Structure

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 94061

Price
AVG $4.99M
$6.58M
Visits
AVG 23
33
Year Built
AVG 1959
1961
Walkscore
AVG 85
88
Data Provided by Walkscore ® not using MLS data

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