NOT LISTED FOR SALE

232 Berkshire Ave Redwood City, CA 94063

North Fair Oaks Neighborhood

Estimated Value: $1,982,000

4 Beds
4 Baths
2,250 Sq Ft
$881/Sq Ft Est. Value

Last Sold May 05, 2023

Last sale price $1,280,000 $569 Per Sq Ft

Est. 55% increase in value since last sale

Current estimated payment $11,006/month

7 Days on Market

Highlights

  • Granite Countertops
  • Den
  • Ceiling Fan
  • Woodside High School Rated A
  • Tandem Parking
  • 3-minute walk to Andrew Spinas Park

About This Home

As of May 2023

First Time on Market in 40+ Years! Best Value 4-Unit Property in Redwood City: 3.18% CAP on Current Rents & 5.0% CAP on Market Rents! Individually-Addressed Apt. Units: 232-234 Berkshire-Two (2) 1 BR/1 BA Units, 215-217 First Ave-Two (2) 1 BR/1 BA + Extra Bedroom/Den. 10 Total Parking Spaces. 2 Convenient Pull-Up Parking Spaces Per Unit. 2 APN's Offer Future Development Potential: 054-206-030 is Vacant Land (Used as Tenant Yard), 054-206-040 Offers 4 Easy-to-Rent Units w/ Immediate Cashflow. Current CAP Rate: 3.18%/GRM: 16.2. Pro-Forma CAP Rate: 5.0%/GRM: 12.3. Cost/SF: $578/SF. Separate Meters: Tenants Pay PG&E / Owner Pays: Water/Garbage. Functional Floorplans & Good Parking Access: Easy to Rent and Straightforward, Headache-Free Management. Strong Historical Tenancy. 234 Berkshire-Section 8 Housing: $1,282/Tenant: $223. Convenient Location Near Middlefield Rd, ECR, Woodside Rd/84, 101, 280. Proven Cash Cow Offering Good Hedge Against Inflation. Make Appt. w/ Agent Before Tour.

Last Agent to Sell the Property

Don Sung

Colliers Parrish International License #01935797 Listed on: 03/29/2023

Last Buyer's Agent

RECIP

Out of Area Office License #00000000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,468

Year Built

  • 1951

Lot Details

  • 2,496 Sq Ft Lot

Home Design

  • Quadruplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,250 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Den
  • Crawl Space

Kitchen

  • Gas Oven
  • Granite Countertops
  • Formica Countertops

Parking

  • 10 Parking Spaces
  • 10 Carport Spaces
  • Tandem Parking
  • Uncovered Parking

Utilities

  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $80,340

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $2,000
  • Maintenance Expense $1,600
  • Manager Expense $1,200
  • Other Expense $4,820
  • Utility Expense $4,871
  • Trash Expense $1,007
  • Operating Expense $36,636
  • Gross Income $77,930

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,468

Year Built

1951

Lot Details

0

Listing Details

  • Zoning: R300S5
  • Subclass: Fourplex
  • Age: 72
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2250
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1951

Interior Features

  • Kitchen: Countertop - Formica, Countertop - Granite, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 2250
  • Stories: 2
  • Additional Rooms: Office Area

Exterior Features

  • Foundation: Concrete Perimeter, Crawl Space
  • Roof: Composition

Garage/Parking

  • Parking Spaces: 10
  • Garage Parking Features: Common Parking Area, Parking Area, Tandem Parking, Uncovered Parking
  • Carport Min: 10

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Gas, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Acres: 0.0573
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 2500.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 2500.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 16.18
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Expense Insurance: 2000
  • Expense Landscape: 1200
  • Expense Maintenance: 1600
  • Expense Management: 1200
  • Expenses Other: 4820
  • Expenses Total: 36636
  • Expenses Utility: 4871
  • Expense Trash: 1007
  • Income Annual Gross: 77930.00
  • Income Annual Rental: 80340
  • Income Gross Scheduled: 80340
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Utilities - Hot Water, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 28, 2003
Sold by
Robert Galassi 2014 Trust
Bought by
Sastry Trust
Current Estimated Value
$1,982,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$768,000
Interest Rate
5.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 23, 1993
Sold by
Anderson Jeanne Wirshing and Anderson Kenneth J
Bought by
Anderson Kenneth J and Anderson Jeanne R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$234,375
Interest Rate
7.2%
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Sastry Trust $1,280,000 Old Republic Title
Anderson Kenneth J -- North American Title Co Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Galassi Robert $345,000
Previous Owner Sastry Trust $768,000
Previous Owner Anderson Kenneth J $234,375
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/05/2023 05/05/23 Sold $1,280,000 -1.5% $569 / Sq Ft
04/06/2023 04/06/23 Pending -- -- --
03/29/2023 03/29/23 For Sale $1,300,000 -- $578 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,468 $218,484 $218,484 --
2023 $2,468 $16,646 $16,646 $0
2022 $280 $16,320 $16,320 $0
2021 $278 $16,000 $16,000 $0
2020 $276 $15,836 $15,836 $0
2019 $275 $15,526 $15,526 $0
2018 $271 $15,222 $15,222 $0
2017 $269 $14,924 $14,924 $0
2016 $237 $14,632 $14,632 $0
2015 $231 $14,413 $14,413 $0
2014 $227 $14,131 $14,131 $0
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2023

    Don Sung

    Colliers Parrish International

    Section Image

  • R

    Buyer's Agent in 2023

    RECIP

    Out of Area Office

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Map

Source: MLSListings

MLS Number: ML81923005

MLSListings

APN: 054-206-030

California San Mateo County Redwood City 94063 North Fair Oaks

232 Berkshire Ave, Redwood City, CA

This home is located at 232 Berkshire Ave, Redwood City, CA 94063 since 29 March 2023 and is currently estimated at $1,982,000, approximately $880 per square foot. This property was built in 1951. 232 Berkshire Ave is a home located in San Mateo County with nearby schools including Garfield Elementary School, John F. Kennedy Middle School, and Woodside High School.

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