1035 Adams St, Redwood City, CA 94061
- Apartment buildings
- 5,674 SF
- 0.21 lot acres
Current Use by Public Records
- Hotel / Hotel & Motel
Property Details for 1035 Adams St
- Year built
- 1945
- Lot size
- 0.21 lot acres
- Property type
- Apartment buildings
- APN
- 053-094-170
- APU
- 53094170
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| May 15, 2024 | — | 1035 Adams Street LLC | — | Deed · related | $2M · Jpmorgan Chase Bank NA |
| Dec 21, 2023 | $2,197,500 | 1035 Adams Street LLC | Barbara A Lee | Grant Deed | — |
| Jan 31, 2019 | — | Barbara A Lee | — | Deed · related | $1.3M · Luther Burbank Savings |
| Oct 9, 2015 | $2,600,000 | Barbara A Lee | Jorge Martinez | Grant Deed | $1.4M · East West Bank |
| Mar 10, 2008 | $415,000 | Jorge Martinez | Benjamin Sanabria | Intrafamily Transfer · related | $830k · Washington Mutual Bank |
| Jul 31, 2002 | — | Benjamin Sanabria | Sanabria,benjamin | Quit Claim Deed · related | $140k · California Bank & Trust |
| Nov 19, 1999 | — | Benjamin Sanabria | Sanabria,blanca | Quit Claim Deed · related | — |
| Nov 19, 1999 | $835,000 | Sanabria,benjamin | Fazio,peter & Shari | Trustees Deed | $614k · California Savings & Loan |
| Oct 30, 1998 | $740,000 | Peter Fazio | Fox Trust | Grant Deed | $530k · Washington Mutual Fsb |
| — | — | Benjamin Sanabria | — | Deed Of Trust · related | $780k · California Savings Bank |
| — | — | Benjamin Sanabria | — | Deed Of Trust · related | $60k · Individual |
| — | — | Benjamin Sanabria | — | Deed Of Trust · related | $100k · Preferred Mortgage Services |
Description
This exceptional investment opportunity presents an eight-unit apartment building located at 1035 Adams St, Redwood City, CA 94061. The property, built in 1945 and boasting 100% occupancy, offers a compelling mix of unit types. The main structure features a two-bedroom, two-bathroom single-family home, while the rear of the property comprises seven individual units: four one-bedroom, one-bathroom units and three studio units. This Class C multifamily property is priced at $3,200,000, representing an attractive price per unit of $400,000. The property's APN is 053-094-170. Water and garbage services are included in the property expenses, while tenants are responsible for PG&E and other utilities. Situated in the heart of Silicon Valley, Redwood City offers a robust economy, a strong job market, and a thriving tech industry, making this a highly desirable location for rental income. The city also provides numerous amenities, including museums, theaters, excellent schools, parks, and recreational facilities. This property presents a significant value-add opportunity for discerning investors seeking a strong return in a prime location. The property's strong occupancy rate and desirable unit mix contribute to its overall appeal. This is a rare chance to acquire a well-positioned multifamily asset in a highly sought-after California market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,530,000
- ML approach
- $2,590,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,575,000
- 6.5%
- $2,375,000
- 7%
- $2,205,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,064,000
- AI Estimate
- $1,457,000
Market price range: $1.18M - $3.06MMarket price range: $267k - $1.54M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,055,000 Current use
- OFFICE BUILDING
- $3,865,000 Change: +88% Conversion: Moderate
- RESTAURANT
- $3,835,000 Change: +87% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $3,060,000 Change: +49% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,620,000 Change: +28% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $2,580,000 Change: +25% Conversion: Difficult
- RETAIL STORES
- $2,455,000 Change: +19% Conversion: Difficult
- WAREHOUSE, STORAGE
- $1,860,000 Change: -10% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Redwood City
- County
- San Mateo
- State
- California
- Longitude
- -122.227
- Latitude
- 37.4786
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
