*Open House: Wednesday, 10/10/2018 11AM - 1PM. Please call to confirm tour time.
Marcus & Millichap has been selected to exclusively market for sale 1567 Regent Street, a trophy asset located in Redwood City, California. The subject property is situated on a 10,614 square foot (per county assessor) lot with approximately 14,459 square feet (per county assessor) of gross living space. The apartment building consists of eight (8) exceptionally large units, with eight (8) remote controlled garage spaces. The unit mix consists of one (1) three-bedroom/ two- bathroom unit (2,200 square feet), one (1) two-bedroom/ one-bathroom unit (1,000 square feet), and six (6) two-bedroom/ two-bathroom units (1,022-1,759 square feet). All eight (8) garage doors have been replaced in 2018. The property also provides tenants with one (1) private three stop hydraulic elevator, two (2) on-site parking spaces, a laundry room with one (1) coin operated washer and dryer, and five (5) walk-in storage units.
The ground floor unit has a spacious living room, family room with fireplace, private washer/dryer and formal dining room with access to a private patio (300 square feet) at the rear of the property. The unit has been recently renovated, featuring granite countertops, marble flooring, new appliances, recessed lighting, new vanities, and crown molding. The second floor two-bedroom units have outdoor balconies (125 square feet), eat in kitchens, comfortable living room and generous bedrooms. The third-floor units have eat in kitchens, immense living rooms and spacious bedrooms. These units have fireplaces and access to a large covered balcony (300 square feet) perfect for entertaining.
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 Silicon Valley, 1567 Regent Street is a highly coveted place to call home for Peninsula renters due to the close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
