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1460 Kentfield Ave 4 Unit Apartment Building Offered at $5,995,000 at a 4.05% Cap Rate Redwood City, CA 94061
Investment Highlights
- TROPHY NEW CONSTRUCTION/ GENERATIONAL ASSET (ORIGINALLY BUILT AS FOR SALE TOWNHOMES COMPLETED IN NOV. 2024)
- STRONG-IN PLACE RENTS WITH UPSIDE POTENTIAL
- LOCATED IN THE HEART OF THE SILICON VALLEY BETWEEN SAN FRANCISCO AND SAN JOSE
- SITUATED IN THE PALM PARK NEIGHBORHOOD
- MINUTES TO DOWNTOWN REDWOOD CITY
- CONVENIENT ACCESS TO HIGHWAY 101 AND INTERSTATE 280
Executive Summary
Contact jcastellanos@marcusmillichap.com for OM and DD.
Bay Consulting Group of Marcus & Millichap is pleased to present Kentfield Avenue (The Grove on Kentfield), a rare opportunity to acquire a best-in-class, newly constructed four-unit multifamily asset completed in November 2024. The property combines thoughtful design, high-quality construction, and strong in-place income, offering investors a generational asset with minimal maintenance and lasting tenant appeal. Comprised of two buildings totaling approximately 5,892 square feet, the community features an excellent unit mix of two spacious 4-bedroom / 3.5-bath townhome-style residences and two 2-bedroom / 2-bath single-story units. The property generates nearly $30,000 per month in gross rental income, with meaningful upside potential as rents continue to rise amid a constrained new construction pipeline in the area.
Bay Consulting Group of Marcus & Millichap is pleased to present Kentfield Avenue (The Grove on Kentfield), a rare opportunity to acquire a best-in-class, newly constructed four-unit multifamily asset completed in November 2024. The property combines thoughtful design, high-quality construction, and strong in-place income, offering investors a generational asset with minimal maintenance and lasting tenant appeal. Comprised of two buildings totaling approximately 5,892 square feet, the community features an excellent unit mix of two spacious 4-bedroom / 3.5-bath townhome-style residences and two 2-bedroom / 2-bath single-story units. The property generates nearly $30,000 per month in gross rental income, with meaningful upside potential as rents continue to rise amid a constrained new construction pipeline in the area.
Property Facts
| Price | $5,995,000 | Lot Size | 0.26 AC |
| Price Per Unit | $1,498,750 | Building Size | 5,892 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 4.05% | No. Stories | 2 |
| Gross Rent Multiplier | 18.33 | Year Built | 2024 |
| No. Units | 4 | Parking Ratio | 0.68/1,000 SF |
| Property Type | Multifamily | ||
| Zoning | R-2 | ||
| Price | $5,995,000 |
| Price Per Unit | $1,498,750 |
| Sale Type | Investment |
| Cap Rate | 4.05% |
| Gross Rent Multiplier | 18.33 |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.26 AC |
| Building Size | 5,892 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2024 |
| Parking Ratio | 0.68/1,000 SF |
| Zoning | R-2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Hardwood Floors
- Sprinkler System
- Yard
- Double Pane Windows
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3.5 | 2 | $8,950 | 2,096 |
| 2+2 | 2 | $5,000 | 850 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 059-041-630 | Improvements Assessment | $2,640,000 |
| Land Assessment | $1,600,000 | Total Assessment | $4,240,000 |
Property Taxes
Parcel Number
059-041-630
Land Assessment
$1,600,000
Improvements Assessment
$2,640,000
Total Assessment
$4,240,000
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1460 Kentfield Ave
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