This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Libra Apartment 150 Harrison Ave

22 Unit Block of Flats £9,085,115 (£412,960/Unit) 4.65% Net Initial Yield Redwood City, CA 94062

Investment Highlights

  • Exceptional Turn-Key Investment Opportunity - Investors have the opportunity to acquire an extensively renovated asset in Redwood City.
  • Desirable Unit Mix - 150 Harrison Ave offers tenants beautifully-designed two-bedroom, one-bedroom and studio floor plans.
  • Potential Seller Financing Available - Seller is offering to carry a portion of financing terms in the 2nd position.
  • Over $1.1M in Recent Capital Improvements - The subject property has recently undergone significant exterior and interior renovations.
  • Convenient Community Amenities - The subject property offers tenants and residents access to covered parking and on-site laundry facilities.

Executive Summary

150 Harrison Ave is a stunning 22-unit apartment complex located in the thriving city of Redwood City, California.
Situated on a 21,800 square foot parcel of land, the subject property was originally constructed in 1961 and has a gross building area of approximately 19,293 square feet. The subject property offers its tenants beautifully designed studio, one-bedroom, and two-bedroom floor plans. 150 Harrison Ave has recently seen capital improvements creating modern, spacious apartments that features remodeled kitchens, remodeled bathrooms, premium appliances, WiFi enabled lighting with Amazon's Alexa support, recessed LED lighting, dual pane windows, engineered wood floors, highly desirable finishes, and a private balcony.
Nearby essential mass transit options offer direct access to all major Bay Area destinations. The Redwood City Caltrain Station, offering Baby Bullet services is within walking distance to the subject property and provides an inexpensive, hassle free commute to major employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. SamsTrans, the area's bus service, provides quick access to Redwood City's diverse Courthouse Square. The subject property is also across the street from a Whole Foods, Sequoia Station Shopping Mall and the lively Downtown Redwood City, home to a myriad of high-end shopping, dining and entertainment options. Theatre District, Shops on Broadway, dining, shopping and music venues. In addition to excellent public transportation options, residents enjoy easy access to U.S. Route 101, Interstate 280, the San Mateo-Hayward Bridge and the Dumbarton Bridge.
The investment appeal of this asset is driven by Redwood City's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of San Francisco's Bay Area, 150 Harrison Ave presents an attractive choice for peninsula renters due to its close proximity to major employers, transportation corridors, shopping, and entertainment options.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £9,085,115
Price Per Unit £412,960
Sale Type Investment
Net Initial Yield 4.65%
Gross Rent Multiplier 14.75
No. Units 22
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.50 AC
Building Size 19,293 SF
Number of Floors 3
Year Built 1961

Unit Amenities

  • Balcony

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 1 - 500
1+1 12 - 650
2+1 9 - 850
Walk Score ®
Walker's Paradise (95)
Bike Score ®
Very Bikeable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
053-041-330
Land Assessment
£3,223,241
Improvements Assessment
£3,626,146
Total Assessment
£6,849,386
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code R40000
R40000
  • Listing ID: 32159509

  • Date on Market: 17/06/2024

  • Last Updated:

  • Address: 150 Harrison Ave, Redwood City, CA 94062

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}