Sold
115 Cypress ST
REDWOOD CITY CA, 94061
$6,300,000
$410.69 per sqft
Sold
15,340 sqft
Multi-family
Built in 1961
Listed by Compass, Ismael Benhamida, Listing Contact: 4083736195
Marketing package available upon request. 100% occupancy and collections. CAP Rate: 4.01% Current, 4.52% Proforma. GIM: 16.43 Current, 15.11 Proforma. $33,368 monthly gross income w/upside. Cypress Place Apartments is a wonderful apartment complex with 14 exceptionally large units. It has 6 one-bed/one-bath units each with 1 patio/balcony and 8 two-bed/one-bath units each with 2 patios/balconies. All units have covered parking and a large storage unit. Exceptionally well maintained by long term owner who is only the 2nd owner of the property. Property has copper plumbing and all dual pane windows and current ownership has spent over $370,000 on capital expenditures including complete renovation of 8 units, new electrical panels, roof and gutter replacement, new concrete parking area, exterior paint, and gated parking. Opportunity to add further value and increase income by continuing the repositioning of the property to the preferences of Silicon Valley technology employees.
ML81861082
MLSⓇ ID
March 9, 2024
Updated
Map
115 Cypress ST
REDWOOD CITY CA, 94061
Interior Features
Interior Features
Pantry
Appliances
Dishwasher, Refrigerator, Oven, Range
Floor Description
Laminate, Tile
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan(s)
Heating
No
Exterior/Building Features
Lot Size
0.34 Acres
Roof
Composition
Sewer
Public Sewer
School Information
School District
935
High School
Woodside High
Elementary School
Henry Ford Elementary
Other Property Details
Area Name
Horgan Ranch Etc.
Association Amenities
Gated
Garage
No
View
No
County
San Mateo
Water Source
Public
Pool
No
Zoning
R4
Listed by Compass, Ismael Benhamida,
Listing Contact: 4083736195
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Data last updated 10:04 PM UTC, 3/9/2024