$2,988,000
Magnify is pleased to present 403 Vera Ave, a turnkey property walking distance from downtown Redwood City. The building was constructed in 1949 and remodeled to the studs in 2022-2023 including a new-construction ADU. The property features open floor plans consisting of (1) Two-bed+Den/Two-bath unit and (4) One-bed/one-bath units. Positioned on a prime corner lot with great frontage, each unit offers a spacious backyard or a balcony with a large rooftop deck. Amenities include in-unit washer/dryer, air conditioning, dishwashers and luxury kitchens/bathrooms to enhance tenant appeal and long-term retention. The property has undergone substantial capital improvements to deliver strong in-place rents with modernized systems. All units include an electrical re-wiring with 100-amp subpanels, copper repipe with ABS drain/sewer lines, new-construction dual pane windows, fire sprinkling with a 24/7 monitored alarm system, and condo-quality finishes. The building has new exterior stucco (2022), 400 amp main panel (2022), low maintenance landscaping (2023), and a newer roof (2015) for minimal long-term maintenance. 403 Vera Ave is walking distance to the vibrant downtown area and Caltrain station, & in close proximity to multiple development projects fueling continued growth in the area.
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Listed by David Katz with Magnify Real Estate (877) 776-7718
Property Type
Commercial Sale
Status
Active
MLS Number
ML82048912
Year Built
1949
Lot Size
5,624 sq ft