616 Canyon Rd Immeuble residentiel 24 lots 8 495 675 € (353 986 €/Lot) Taux de capitalisation 5,61 % Redwood City, CA 94062

616 Canyon Rd is an exceptional 24-unit apartment community located in thriving Redwood City, California. This podium-style building boasts superior construction quality, offering both modern design and long-lasting durability.
Situated on a 16,422 square foot parcel of land, the subject property was originally constructed in 1963 and has a gross building area of approximately 20,832 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom and studio floor plans with select units featuring private balconies. The subject property also offers tenants convenient amenities such as storage lockers, private garage parking and a shared on-site laundry facility. Additionally, the subject property has recently undergone significant capital improvements including fresh paint, SB721 compliance and façade upgrades.
The subject property is situated one block from the prestigious Emerald Hills and is within close proximity from the lively Downtown Redwood City which offers tenants a myriad of high-end shopping, dining and entertainment options. The Redwood City Caltrain Station, offering Express services is also close by and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. In addition to excellent public transportation options, residents enjoy easy access to the major transportation corridors of U.S. Highway 101, Interstate 280, the San Mateo-Hayward Bridge and the Dumbarton Bridge.
The investment appeal of this asset is driven by Redwood City's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of San Francisco's Bay Area, 616 Canyon Rd presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.