645 Elm Street

Redwood City, CA 94063

$3,100,000
Last Sold Price
Beds
4,472 Sq. Ft.
$693 / Sq. Ft.
4,472
Sq. Ft.
$693
per Sq. Ft.

Description

$500,000 price reduction! 645 Elm Street offers an investor a unique opportunity to acquire a well maintained apartment property strategically positioned in one of the most sought after submarkets in the country. The building sits on a 7,579 SF lot with 4,472 SF of rentable space. The complex benefits from a solid unit mix of (3) two-bedroom/one-bath and (5) one-bedroom/one-bath units. The property has dual pane windows throughout the entire building and an on-site laundry facility. Five of the eight...$500,000 price reduction! 645 Elm Street offers an investor a unique opportunity to acquire a well maintained apartment property strategically positioned in one of the most sought after submarkets in the country. The building sits on a 7,579 SF lot with 4,472 SF of rentable space. The complex benefits from a solid unit mix of (3) two-bedroom/one-bath and (5) one-bedroom/one-bath units. The property has dual pane windows throughout the entire building and an on-site laundry facility. Five of the eight units have been remodeled. Property is perfectly suited to add one or two Additional Dwelling Units (ADUs). 645 Elm St. has an almost unheard of Walkscore of 97 and is 1/3 of a mile to the intersection of Broadway and Main St. in downtown Redwood City. Can be purchased together with 6 units located at 1584 Regent St. in Redwood City.
  1. Listed by Steve Zirelli • DRE #01929245 • Brokerage DRE #00586119 • Cornish & Carey Commercial • 650-224-3118

Property Details for 645 Elm Street

MLS City Name
REDWOOD CITY
Building Type
Other
Garage Spaces
0
Parking Spaces
2

Location

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245

Sold By BQ Group Inc, Fan Cox, DRE #02131772

Add your commute
LISTING UPDATED: 06/14/2023 10:26 PM

Property Details for 645 Elm Street

StatusSold
MLS #ML81920092
Days on Compass1
Taxes$39,962 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1955
Lot Size0.17 AC / 7,579 SF
CountySan Mateo County

Location

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245

Sold By BQ Group Inc, Fan Cox, DRE #02131772

Add your commute

Building Information for 645 Elm Street

Stories-Residences-Year Built1955Building Size-Lot Size0.17 AC / 7,579 SF

Payment Calculator

$20,248 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,918

Property Taxes

$3,330

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 645 Elm Street

Features
Features
  • Fireplace: No
  • Living SqFt: 4472
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 6
Garage
  • Garage and Parking: Covered Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 8
  • Area Text: Lenolt Etc.
  • Restrictions: None
  • Roof: Tar and Gravel
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 645
  • Street Name: Elm
  • Street Suffix: Street
  • Area ID: 331
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 4472
  • Structure SqFt Source: Assessor
  • Age: 68
Development Information
  • Zoning Detail: R40000
Location Information
  • Parcel Number: 053-245-430
  • County Name: San Mateo
  • City Name: REDWOOD CITY
  • City Postal ID: 50
  • Postal Code: 94063
  • Elementary School District: 935
  • High School District Text: Sequoia Union High
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .17
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
General Information
  • Annual Tax Amount: $39,962
  • Capitalization Rate: 4.60
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $1,942
  • Expense Landscape: $2,640
  • Expense Maintenance: $6,000
  • Expense Management: $0
  • Expense Trash: $16,732
  • Expenses Other: $0
  • Expenses Utility: $3,661
  • Expenses Total: $70,937
  • Operating Expenses Include: Insurance
  • Gross Rent Multiplier: 14.22
  • Income Annual Gross: $218,017
  • Income Annual Rental: $222,840
  • Income Gross Scheduled: $224,760
  • Income Other: $1,920
Unit 1 Information
  • Unit 1 Full Bathrooms: 2
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,550
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,900
Unit 3 Information
  • Unit 3 Rent: $0
Unit 4 Information
  • Unit 4 Rent: $0
Unit Type 1
  • Unit Type1 Units Total: 3
Unit Type 2
  • Unit Type2 Units Total: 5
Listing Info
Rental Info
  • Lease Type: Net

Property History for 645 Elm Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 645 Elm Street

Taxable ValueLand$1,136,257Additions$410,310Total$1,546,567
Tax Record2023$17,309 ($1,442 / month)
Home Facts
Baths8Total Finished SqFt4,472 SqFtAbove Grade Finished SqFt4,472 SqFtStories2Lot Size7,579 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningR40000CountySAN MATEOAPN053-245-430

Schools near 645 Elm Street

This home is within Redwood City Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 5 to 8
Public - 9 to 12
Public - 3 to 8
Rating
School
Distance
Hoover Elementary School
PublicK to 8

John F. Kennedy Middle School
Public5 to 8

Sequoia High School
Public9 to 12

North Star Academy
Public3 to 8

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.

Similar Homes

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245

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.