403 Vera AVE, Redwood City, CA 94061
403 Vera AVE, Redwood City, CA 94061
403 Vera AVE, Redwood City, CA 94061
403 Vera AVE, Redwood City, CA 94061
403 Vera AVE, Redwood City, CA 94061
403 Vera AVE, Redwood City, CA 94061
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Sam Spinella

Sam Spinella

+1(408) 393-9294
Listed by David Katz • Magnify Real Estate, DRE#01971921
$ 2,988,000
Est. payment | /mo

3 Beds

3 Baths

3,293 SqFt

Save
$ 2,988,000
Est. payment | /mo
Save

3 Beds

3 Baths

3,293 SqFt

Open House

Sun May 31, 2:00pm - 4:00pm

Thu Jun 04, 12:00pm - 2:00pm

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,293 sqft

Price per Sqft $907

MLS Listing ID ML82048912

Bedrooms 3

Full Baths 3

Year Built 1949

Lot Size 5,625 Sqft

Property Sub-Type Five or More Units

Property Description

Magnify is pleased to present 403 Vera Ave, a turnkey property walking distance from downtown Redwood City with over $197,000 in gross income (4.7% cap rate). The building was constructed in 1949 and remodeled to the studs in 2022-2023 along with a new-construction ADU. The property features open floor plans with (1) Two-bed+Den/Two-bath and (4) One-bed/One-bath units. Positioned on a prime corner lot with great frontage, each unit offers a spacious backyard or balcony with a large rooftop deck. Amenities include in-unit washer/dryer, air conditioning, dishwashers & luxury kitchens/baths to enhance tenant appeal and 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, & condo-quality finishes. The building has a new 400 amp main panel (2022), exterior stucco (2022), low maintenance landscaping (2023), and a newer roof (2015) for minimal long-term maintenance. It is also in close proximity to Stanford, Atherton, Palo Alto, & Menlo Park making it a premier Peninsula asset with strong income & high growth potential.

Location

State CA

County San Mateo

Area Central Park Etc.

Zoning R4

Rooms

Kitchen Cooktop - Electric, Countertop - Other, Dishwasher, Garbage Disposal, Microwave, Pantry

Interior

Heating Electric

Cooling Ceiling Fan, Window / Wall Unit

Flooring Tile, Vinyl / Linoleum, Other

Laundry Washer / Dryer

Exterior

Exterior Feature Back Yard, Balcony / Patio, Deck , Drought Tolerant Plants, Low Maintenance, Sprinklers - Auto

Parking Features Assigned Spaces

Utilities Available Public Utilities

Roof Type Composition,Shingle

Building

Foundation Concrete Perimeter, Concrete Slab, Post and Pier

Sewer Sewer - Public

Water Public

Others

Restrictions None

Tax ID 053-083-070

Security Features Closed Circuit Monitoring (24-hour),Fire System - Sprinkler

Special Listing Condition Not Applicable

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Sam Spinella
Sam Spinella

Your Trusted Real Estate Guy | License ID: 01377658

+1(408) 393-9294 | sam@spinellagroup.com

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403 Vera AVE