NOT LISTED FOR SALE

403 Vera Ave Redwood City, CA 94061

Roosevelt Neighborhood

Estimated Value: $1,852,000 - $2,530,000

4 Beds
4 Baths
2,522 Sq Ft
$833/Sq Ft Est. Value

Last Sold September 30, 2019

Last sale price $1,570,000 $623 Per Sq Ft

Est. 34% increase in value since last sale

Current estimated payment $14,033/month

18 Days on Market

Highlights

  • Balcony
  • Forced Air Heating System
  • Back Yard
  • Sequoia High School Rated A
  • Fenced

About This Home

As of September 2019

403 Vera Ave. provides an exceptional value-add opportunity for a peninsula investor. Value addition through landscaping, interior renovations, exterior renovations, and rent roll increases. Redwood city is not a rent-controlled market, therefore the substantial upside in rents can be capitalized upon quickly. The functional layout of 403 Vera Avenue provides a garage space for each unit beneath a terrace shared by the top two units. The long backyard provides recreational space for each tenant. Large corner lot. Located in the heart of the peninsula, Vera is perfectly situated for apartment tenants who work at one of the myriad of local tech companies. Redwood City is in incredibly high demand for its adjacent location to ultra-wealthy zip codes and convenient location to all that the San Francisco Bay Area offers. Very close proximity to major Highways 82, El Camino Real, and 101. Located 5 minutes from Downtown Redwood City and the Theatre's, museums and restaurants that it offers.

Last Agent to Sell the Property

Mike Priolo

NAI Northern California License #01878385 Listed on: 07/23/2019

NAI Northern California

Last Buyer's Agent

Eric Katz

Colliers Parrish International License #01900078

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $31,064

Year Built

  • 1949

Lot Details

  • 5,624 Sq Ft Lot
  • Fenced
  • Back Yard

Parking

  • 4 Car Garage
  • On-Street Parking
  • Off-Street Parking

Home Design

  • Quadruplex
  • Wood Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,522 Sq Ft Home
  • 2-Story Property
  • Crawl Space

Kitchen

  • Self-Cleaning Oven
  • Gas Cooktop

Outdoor Features

  • Balcony

Utilities

  • Forced Air Heating System
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $53,273
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gross Income $52,208

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$31,064

Year Built

1949

Lot Details

0

Parking

4

Listing Details

  • Zoning: -
  • Subclass: Fourplex
  • Age: 70
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2522
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1949

Interior Features

  • Kitchen: Cooktop - Gas, Oven - Self Cleaning, Refrigerator
  • Living Sq Ft: 2522
  • Stories: 2

Exterior Features

  • Foundation: Concrete Perimeter, Crawl Space
  • Roof: Wood Shakes / Shingles
  • Yard/Grounds: Back Yard, Balcony / Patio, Fenced

Garage/Parking

  • Garage Spaces: 4
  • Parking Spaces: 4
  • Garage Parking Features: Attached Garage, Off-Street Parking, On Street

Utilities

  • Heating System: Forced Air, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High
  • Elementary School: John Gill Elementary
  • Middle School: John F. Kennedy Middle
  • High School: Sequoia High
  • High School: 674
  • Elementary School: 645
  • Middle School: 646

Lot Info

  • Lot Acres: 0.1291
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5625.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5625.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 26.28
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Income Annual Gross: 52208.00
  • Income Annual Rental: 53273
  • Income Gross Scheduled: 53273
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Insurance, Reserve Fund, Services - Sewer, Services - Trash Removal, Utilities - Hot Water, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 23, 2019
Closed on
Oct 7, 2019
Sold by
Katz David and Katz Daniel
Bought by
403 Vera Ave Llc
Seller's Agent
Mike Priolo
NAI Northern California
Buyer's Agent
Eric Katz
Colliers Parrish International
List Price
$1,400,000
Sold Price
$1,570,000
Premium/Discount to List
$170,000
12.14%
Current Estimated Value
$2,100,346

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$530,346
Avg. Annual Appreciation
4.99%
Original Mortgage
$1,099,000
Outstanding Balance
$954,926
Interest Rate
3%
Mortgage Type
New Conventional
Estimated Equity
$1,137,961

Purchase Details

Listed on
Jul 23, 2019
Closed on
Sep 24, 2019
Sold by
Hondagneu John and Chiramberro Jacques R
Bought by
Katz David and Katz Daniel
Seller's Agent
Mike Priolo
NAI Northern California
Buyer's Agent
Eric Katz
Colliers Parrish International
List Price
$1,400,000
Sold Price
$1,570,000
Premium/Discount to List
$170,000
12.14%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,099,000
Outstanding Balance
$954,926
Interest Rate
3%
Mortgage Type
New Conventional
Estimated Equity
$1,137,961

Purchase Details

Closed on
Oct 6, 1998
Sold by
Chiramberro Christiane
Bought by
Chiramberro Jacques R and Chiramberro Christiane J

Purchase Details

Closed on
Feb 20, 1998
Sold by
Hondagneu John and Chiramberro Christiane
Bought by
Hondagneu John and Chiramberro Christiane

Purchase Details

Closed on
Mar 20, 1996
Sold by
Hondagneu Marie J
Bought by
Hondagneu Marie J
Source: Public Records

Range of Values:

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Average Value
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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
403 Vera Ave Llc -- Old Republic Title Company
Katz David $1,570,000 Old Republic Title Co
Chiramberro Jacques R -- --
Hondagneu John -- --
Hondagneu Marie J -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Katz David $1,099,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/30/2019 09/30/19 Sold $1,570,000 +12.1% $623 / Sq Ft
08/11/2019 08/11/19 Pending -- -- --
07/23/2019 07/23/19 For Sale $1,400,000 -- $555 / 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 $31,064 $1,969,021 $1,224,882 $744,139
2024 $31,064 $2,801,791 $1,200,865 $1,600,926
2023 $22,123 $1,982,760 $1,177,319 $805,441
2022 $19,903 $1,834,483 $1,154,235 $680,248
2021 $17,401 $1,586,265 $1,131,603 $454,662
2020 $17,167 $1,570,000 $1,120,000 $450,000
2019 $1,371 $111,204 $31,203 $80,001
2018 $1,329 $109,025 $30,592 $78,433
2017 $1,316 $106,889 $29,993 $76,896
2016 $1,269 $104,794 $29,405 $75,389
2015 $1,226 $103,221 $28,964 $74,257
2014 $1,204 $101,200 $28,397 $72,803
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2019

    Mike Priolo

    NAI Northern California

    Section Image

  • E

    Buyer's Agent in 2019

    Eric Katz

    Colliers Parrish International

    Section Image
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Map

Source: MLSListings

MLS Number: ML81761780

MLSListings

APN: 053-083-070

California San Mateo County Redwood City 94061 Roosevelt

403 Vera Ave, Redwood City, CA

This home is located at 403 Vera Ave, Redwood City, CA 94061 since 23 July 2019 and is currently estimated at $2,100,346, approximately $832 per square foot. This property was built in 1949. 403 Vera Ave is a home located in San Mateo County with nearby schools including Roosevelt Elementary School, John F. Kennedy Middle School, and Sequoia High School.

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