585 Old Canyon Rd

Fremont, CA 94536

$6,790,000
Price
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Beds
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Baths
—Sq. Ft.
— / Sq. Ft.
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Sq. Ft.
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per Sq. Ft.
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Description

An exceptional opportunity awaits at 559 & 585 Old Canyon Road in the highly sought-after Niles district of Fremont. Offered together, these two parcels combine for approximately 1.58 acres of prime infill land zoned R-6, presenting tremendous upside potential for developers, investors, and builders seeking a rare large-scale residential redevelopment opportunity in one of the Bay Area’s most desirable submarkets. Currently situated on 559 Old Canyon Road are 15 occupied apartment units generating...An exceptional opportunity awaits at 559 & 585 Old Canyon Road in the highly sought-after Niles district of Fremont. Offered together, these two parcels combine for approximately 1.58 acres of prime infill land zoned R-6, presenting tremendous upside potential for developers, investors, and builders seeking a rare large-scale residential redevelopment opportunity in one of the Bay Area’s most desirable submarkets. Currently situated on 559 Old Canyon Road are 15 occupied apartment units generating an impressive net operating income of approximately $271,000 annually, providing immediate cash flow while plans and entitlements are pursued. The combination of strong in-place income and valuable development potential creates a unique opportunity rarely found in today’s market. Positioned near the historic and charming Niles district, the property benefits from close proximity to vibrant downtown shops, dining, entertainment, parks, and commuter routes. Niles is widely recognized for its rich history, small-town character, scenic surroundings, and strong community appeal, making this location especially attractive for future residential development. With R-6 zoning, substantial lot size, and an outstanding Fremont location, this offering provides developers the chance to capitalize on the continued demand for housing in the East Bay. Whether envisioned as a townhome community, apartment redevelopment, or a thoughtfully designed residential project, 559 & 585 Old Canyon Road represent a truly rare investment and development opportunity in the heart of Fremont.
  1. Listed by Todd Carter • DRE #01235456 • RE/MAX Accord

Property Details for 585 Old Canyon Road

City
FREMONT
Dist Neighborhood Subdiv
NILES AREA
Building Type
5 or More Units
Property Sub Type
5 or More Units
Garage/Parking
Attached Garage, Guest / Visitor Parking, Off-Site Parking, Parking Area
Total # Parking Spaces
0
LISTING UPDATED: 05/31/2026 01:17 AM

Property Details for 585 Old Canyon Road

StatusActive
MLS #41135884
Days on Compass15
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1938
Lot Size1.58 AC / 68,824 SF
CountyAlameda County
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Location

Listing Courtesy of RE/MAX Accord, Todd Carter, DRE #01235456
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Building Information for 585 Old Canyon Road

Stories-Residences16Year Built1938Building Size-Lot Size1.58 AC / 68,824 SF

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$34,831 per month

30 year fixed, 6.36% Interest

Principal and Interest

$33,835

Property Taxes

$996

HOA Dues

$0

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Property Information for 585 Old Canyon Road

Features
Feature Details
  • Flooring: Carpet
Utility Details
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
Lot / Property Details
Home Owners Association
  • HOA Amenities: Other
Property Details
  • Additional Equipment: None
  • Exterior: Wood Siding, Other
  • Lot Description: Level, Premium Lot
  • Lot Sq Ft Apx: 68824
  • Lot Size Square Feet: 68824.0
  • Roof: Composition Shingles
  • Sq Ft Apx: 0
  • Year Built: 1938
Location Details
  • Directions to Property: Niles Canyon to Old Canyon
  • FIPS Code: 06001
  • Census Tract: 0
  • Parcel Number: 507-660-12
  • Printed Neighborhood Rpt: Yes
  • Board ID: BAY EAST
Multi Family Information
General Details
  • Units Total: 16
  • Basement: None
  • Tenant Pays: None
  • Financial Data Source: Owner
Multi Family 5+ Information
Building Details
  • Additional Features-Misc: Other
  • Apx Lot Acres: 2
  • On Site Parking Description: Attached Garage, Guest Parking, Off Site Parking, Parking Area
Income / Expense Details
  • Annual Gross Sched Income: $345,360
  • Net Operating Income: $271,074
Other Financial Information
  • Existing Loan: None
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 585 Old Canyon Road

DateEvent & SourcePriceAppreciation
May 24, 2026

Listed (Active)

CRMLS #41135884

$6,790,000—
May 24, 2026

Listed (Active)

MLSListings #BE41135884

$6,790,000—
May 24, 2026

Listed (Active)

EBRD #41135884

$6,790,000—
DateEvent & SourcePrice
05/24/2026

Listed (Active)

CRMLS #41135884

$6,790,000
05/24/2026

Listed (Active)

MLSListings #BE41135884

$6,790,000
05/24/2026

Listed (Active)

EBRD #41135884

$6,790,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 585 Old Canyon Road

Taxable ValueLand$61,294Additions$95,619Total$156,913
Tax Record2025$11,948 ($996 / month)
Home Facts
Total Finished SqFt6,985 SqFtAbove Grade Finished SqFt6,985 SqFtStories1Lot Size37,590 SqFtStyleMulti-Family Res (5+ Units)Year Built1938CountyALAMEDAAPN507-660-12

Schools near 585 Old Canyon Road

This home is within Fremont Unified School District.
Rating
School
Type
Grades
Distance
Vallejo Mill Elementary School
Public - K to 5
Centerville Middle School
Public - 6 to 8
Washington High School
Public - 9 to 12
Circle of Independent Learning School
Charter - K to 12
Rating
School
Distance
Vallejo Mill Elementary School
PublicK to 5

Centerville Middle School
Public6 to 8

Washington High School
Public9 to 12

Circle of Independent Learning School
CharterK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 585 Old Canyon Road, Fremont, CA 94536

585 Old Canyon Road is a multi-family home for sale in Fremont, CA 94536. This property was listed for sale on May 24, 2026 by RE/MAX Accord, it's currently listed at $6,790,000. This listing's school district is Fremont Unified School District. Nearby schools include Vallejo Mill Elementary School, Centerville Middle School and Washington High School. 585 Old Canyon Road is a 0-bed, 0-bath, multi-family home built in 1938.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Accord, Todd Carter, DRE #01235456

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.