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1526 Hess Rd 7 Unit Apartment Building $3,195,000 ($456,429/Unit) 4.22% Cap Rate Redwood City, CA 94061
INVESTMENT HIGHLIGHTS
- Prime Redwood City Apartment Building with Attractive Unit Mix (4) 2x1 & (3) 1x1
- Some Units Offer Renovated Kitchens and Baths
- On-Site Laundry Facility
- Excellent Location in Redwood City West of the El Camino Real
- All Subpanels Recently Upgraded
- Dual Pane Windows Throughout Entire Building
EXECUTIVE SUMMARY
This well-maintained 7-unit apartment building offers a rare opportunity to acquire a stabilized asset in a high-demand rental market. Located in the heart of Redwood City, 1526 Hess Road combines strong current income with long-term upside potential, making it a compelling opportunity for investors seeking stable returns in one of the Peninsula’s most dynamic submarkets. The property is strategically positioned west of the El Camino Real in the Palm Park neighborhood and just minutes to downtown Redwood City and all the nightlife, dining, and entertainment amenities it has to offer. Residents enjoy easy access to mass transit with Sequoia Station and Caltrain only 1 mile away. The nearby Red Morton Community Park features running trails, tennis courts, a skate park, and more. Several major employers are also in close proximity, supporting strong ongoing rental demand.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $456,429 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.22% | Building Size | 6,674 SF |
| Gross Rent Multiplier | 14.98 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 0.89/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4, Redwood City | ||
| Price | $3,195,000 |
| Price Per Unit | $456,429 |
| Sale Type | Investment |
| Cap Rate | 4.22% |
| Gross Rent Multiplier | 14.98 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 6,674 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | R4, Redwood City |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 053-293-080 | Total Assessment | $2,971,382 (2025) |
| Land Assessment | $1,591,812 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,379,570 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
053-293-080
Land Assessment
$1,591,812 (2025)
Improvements Assessment
$1,379,570 (2025)
Total Assessment
$2,971,382 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1526 Hess Rd
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