Sold

115 Cypress ST

REDWOOD CITY CA, 94061

$6,300,000


$410.69 per sqft

Sold

15,340 sqft

Multi-family

Built in 1961

Listed by Compass, Ismael Benhamida, Listing Contact: 4083736195

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.

ML81861082

MLS ID

March 9, 2024

Updated

Map

115 Cypress ST
REDWOOD CITY CA, 94061

Interior Features

Interior Features

Pantry


Appliances

Dishwasher, Refrigerator, Oven, Range


Floor Description

Laminate, Tile


Fireplace

No


Cooling

Yes


Cooling Description

Ceiling Fan(s)


Heating

No

Exterior/Building Features

Lot Size

0.34 Acres


Roof

Composition


Sewer

Public Sewer

School Information

School District

935


High School

Woodside High


Elementary School

Henry Ford Elementary

Other Property Details

Area Name

Horgan Ranch Etc.


Association Amenities

Gated


Garage

No


View

No


County

San Mateo


Water Source

Public


Pool

No


Zoning

R4


Buyer Agency Compensation

1.5%

Listed by Compass, Ismael Benhamida,
Listing Contact: 4083736195 

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Data last updated 10:04 PM UTC, 3/9/2024

 

 

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