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Listed by David Katz • Magnify Real Estate, DRE#01971921
$3,725,000
Est. payment /mo
3 Beds
2 Baths
9,246 SqFt
Open House
Thu Sep 24, 11:30am - 1:00pm
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 9,246 sqft
Price per Sqft $402
MLS Listing ID ML82061752
Bedrooms 3
Full Baths 2
Year Built 1960
Lot Size 0.259 Acres
Property Sub-Type Five or More Units
Property Description
Magnify is pleased to present 138-140 Berkshire Avenue, a rare opportunity to acquire two contiguous 5-unit buildings on separate APNs in Redwood City. Offered at a 6.4% in-place cap rate with over $28,000/month in rents, this well-maintained 10-unit offers strong current cash flow and value-add potential. The unit mix includes (4) 2BD/1BA and (6) 1BD/1BA units with spacious floor plans. Major improvements include new roofs (2023), upgraded electrical subpanels (2025), Square D main electrical disconnects, dual-pane windows, fresh exterior paint (2026), newer central water heaters, and a passing SB-721 inspection. Two oversized rear garages provide valuable off-street parking and potential ADU conversion. Additional upside includes potential for new-construction ADUs on the 138 Berkshire parcel, subject to zoning and permitting. Located in a core Peninsula location less than 1 mile from the Atherton border, the property offers convenient access to Highway 101, Downtown Redwood City, Caltrain, and major employers. As an unincorporated property, it is also outside the City of Redwood City's jurisdiction and current rent control ordinance (buyer to verify). Strong in-place income and multiple avenues for future expansion make 138-140 Berkshire an attractive Peninsula investment.
Location
State CA
County San Mateo
Area Dumbarton Etc.
Zoning R300S5
Interior
Heating Wall Furnace
Cooling None
Laundry Coin Operated
Exterior
Parking Features Attached Garage, Covered Parking, Tandem Parking
Garage Spaces 2.0
Utilities Available Public Utilities
Roof Type Composition,Shingle
Building
Foundation Post and Pier, Wood Frame
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 054-285-100
Security Features None
Special Listing Condition Not Applicable
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