This Multifamily Property is Off-Market.

3499 East Bayshore Road
Redwood City, CA 94063 ·

141 Spaces · Multifamily For Sale

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Bayshore Villa

Price N/A Cap Rate 8.14%
No. Spaces 141 Gross Rent Multiplier 8.68
Property Type Multifamily Occupancy 94%
Property Sub-type Mobile Home/RV Community Year Built 1960
Property Use Type Investment Lot Size 7.94 AC
Commission Split 1%
Listing ID: 16136911 Date Created: 03/09/2009 Last Updated: 05/14/2009

Description

This family park consists of 141 spaces of which about 22 are RV Spaces and will accommodate Park Model Homes. The park has a swimming pool, office, and clubhouse and is within one minute of the 101 freeway making the park an outstanding commuter location.

Bayshore Villa is sub metered for gas, electricity, and water and all utilities are passed through to the tenants. Priced at a 8.14 percent cap rate, with occupancy upside, a 10.3 percent current total return, and future development potential, Bayshore Villa is an outstanding opportunity for the investor.

Bayshore Villa is located in the San Francisco Bay Area in Redwood City, California. It is in San Mateo County and just south of San Francisco and north of San Jose. Bayshore Villa's strength lies in its in-fill Bay Area location where median income exceeds $89,728 and median housing prices are $688,000.

Highlights

  • 8.14% Cap Rate for Bay Area Park
  • Occupancy Upside
  • Future Development Potential
  • 10.3% Current Total Return

Research

3499 East Bayshore Road, Redwood City, CA 94063 (San Mateo County)

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