77 Birch ST, Redwood City, CA 94062

$4,800,000
List Price
$4,800,000
Price Change
▼ $400,000 1706079280
MLS#
ML81946375
Status
ACTIVE
Type
Land
Neighborhood
High School Acres Etc.

Property Description

PRICE ADJUSTMENT - $4,800,000 Rarely Available, Double-Lot (16,640 SF) w/ Existing Medical/Office Property. Property Offers Short-Term Cashflow With Long-Term Opportunity to Develop: 9 Townhouses OR 23 Condos. A+ Location in Quiet, Desirable Oak Knoll/Edgewood Park Neighborhood. Transit-Oriented Location. Walkscore: 93. Walk to Downtown Redwood City, Cal-Train Station. Excellent, Irreplaceable Tree-Lined Street West of El Camino. Little to No New Construction Condo or Townhouse Inventory. OPTION 1: 9 Townhomes - Already Submitted Plans (About 80% Approved): Eight (8) 4 BR/2.5 BA with 2,074 SF/Unit, and One (1) 3 BR/3 BA with 1,623 SF/Unit OPTION 2: 23 Condos - Includes: 15 Units + 8 Density Bonus Units - (8) 3 BR/2 BA, (8) 2 BR/2 BA, and (7) 1 BR/1 BA Units Recent Zoning Upgrade Offers 40 DU/Acre: 15 Units + 8 Density Bonus Units - 23 Total Units EXISTING CASHFLOW: ±4,918 SF Medical Office Building (6-Units) is Partially Vacant. Existing Medical/Office/Flex Property Offers 4,800 SF (with 6 Suites) can be Leased at $3/SF. Pro-Forma Rent: $16,000 ($3.25/SF) to $17,000 ($3.50/SF)

Additional Information

Sewer
Sewer - Public

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Courtesy of Colliers Parrish International, Don Sung.

board logo

Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Real Estate Company are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. Copyright 2024 MLSListings. All rights reserved. This data is updated daily. Last updated