NOT LISTED FOR SALE

515 Oak Ave Redwood City, CA 94061

Palm Park Neighborhood

Estimated Value: $1,323,153 - $1,610,000

2 Beds
1 Bath
1,108 Sq Ft
$1,331/Sq Ft Est. Value

Last Sold April 19, 2024

Last sale price $1,468,000 $1,325 Per Sq Ft

Current estimated payment $8,124/month

13 Days on Market

Highlights

  • Wood Flooring
  • Neighborhood Views
  • Balcony
  • Woodside High School Rated A
  • Den
  • 2 Car Detached Garage

About This Home

As of April 2024

Calling all investors and developers or end user's willing to put-in the sweat equity. A great opportunity awaits in the city that claims one of the best climates in the world. In the heart of Redwood City sits a property with tremendous potential. Build your dream home on almost 9000 SqFt lot or create a multi-family complex, sure to stimulate some cash flow, all the while living-in or renting the functional front dwelling while laying out plans of your desired goal. The front house has over 1100 SqFt of living space that can be occupied now or updated and add a bed/bath within the envelope. The city of Redwood City is witnessing lots of transformation & increased values. Just look next door, across the street or down the street and the evolution is happening. Easy access to 101/280, not far from a bustling downtown that has become the place to go for entertainment; music in the square, movies, restaurants, coffee or a stroll. Close to Red Morton Park, Whole Foods, Safeway & Rite AID. *Tenant occupied. Tenant is actively seeking replacement property and may request no more than a 60-day rentback if needed.

Last Agent to Sell the Property

Francis Dakin

Compass License #02053842 Listed on: 02/21/2024

Compass

Co-Listed By

Dana Adams

Compass License #02106791

Last Buyer's Agent

Grace Tian

Maxreal License #01324234

Maxreal

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,242

Year Built

  • Built in 1924

Lot Details

  • 8,773 Sq Ft Lot
  • Wood Fence
  • Mostly Level
  • Back Yard
  • Zoning described as R4

Parking

  • 2 Car Detached Garage
  • On-Street Parking
  • Off-Street Parking

Home Design

  • Fixer Upper
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,108 Sq Ft Home
  • Den
  • Wood Flooring
  • Neighborhood Views
  • Crawl Space
  • Gas Dryer Hookup

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Additional Features

  • Balcony
  • 686 SF Accessory Dwelling Unit

Listing and Financial Details

  • Assessor Parcel Number 053-271-030

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,242

Year Built

Built in 1924

Lot Details

0

Parking

2

Listing Details

  • Subclass: Single Family Home
  • Property Condition: Fixer Upper
  • Age: 100
  • Listing Class: Residential
  • Second Res Apx Sq Ft: 686
  • Structure Sq Ft: 1108
  • Year Built: 1924
  • Zoning Description: R4
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Family Room: No Family Room
  • Living Sq Ft: 1108
  • Laundry: Gas Hookup
  • Flooring: Hardwood
  • Additional Rooms: Den / Study / Office
  • Maximum Numberof Bedrooms: 2
  • Minimum Numberof Bedrooms: 2
  • Full Bathrooms: 1
  • Total Bedrooms: 2

Exterior Features

  • Foundation: Concrete Perimeter, Crawl Space
  • Roof: Composition
  • View: Neighborhood
  • Yard/Grounds: Back Yard, Balcony / Patio, Fenced
  • Fencing: Fenced, Wood
  • Construction Type: Cinder Block, Wood, Wood Frame

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 2
  • Garage Max: 2
  • Garage Min: 2
  • Garage Parking Features: Detached Garage, Off-Street Parking, On Street, Parking Area

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Description: Grade - Mostly Level
  • Parcel Number: 053-271-030
  • Lot Acres: 0.2014
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8771.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8771.00
  • Soil: Clay

Multi Family

  • Utilities: Natural Gas, Public Utilities
  • Second Unit Description: Rear Unit

MLS Schools

  • High School District Text: Sequoia Union High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 21, 2024
Closed on
Apr 11, 2024
Sold by
Giannore 1989 Revocable Trust and Giannone Leroy
Bought by
Lu Hong and Lu Xun Houping
Seller's Agent
Francis Dakin
Compass
Buyer's Agent
Grace Tian
Maxreal
List Price
$1,495,000
Sold Price
$1,468,000
Premium/Discount to List
-$27,000
-1.81%
Views
36
Current Estimated Value
$1,474,788

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$6,788
Avg. Annual Appreciation
0.34%
Original Mortgage
$766,550
Outstanding Balance
$756,502
Interest Rate
6.88%
Mortgage Type
New Conventional
Estimated Equity
$718,286
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Lu Hong $1,468,000 Fidelity National Title Compan
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lu Hong $766,550
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/19/2024 04/19/24 Sold $1,468,000 -1.8% $1,325 / Sq Ft
03/06/2024 03/06/24 Pending -- -- --
02/21/2024 02/21/24 For Sale $1,495,000 -- $1,349 / 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 $1,242 $1,497,360 $1,122,000 $375,360
2023 $1,242 $98,990 $37,722 $61,268
2022 $1,172 $97,050 $36,983 $60,067
2021 $1,162 $95,148 $36,258 $58,890
2020 $1,148 $94,174 $35,887 $58,287
2019 $1,144 $92,329 $35,184 $57,145
2018 $1,117 $90,520 $34,495 $56,025
2017 $1,106 $88,746 $33,819 $54,927
2016 $1,063 $87,006 $33,156 $53,850
2015 $1,026 $85,700 $32,658 $53,042
2014 $1,008 $84,022 $32,019 $52,003
Source: Public Records

Agents Affiliated with this Home

  • Francis Dakin

    Seller's Agent in 2024

    Francis Dakin

    Compass

    (650) 483-5760

    1 in this area

    37 Total Sales

    Francis Dakin
    Section Image

  • D

    Seller Co-Listing Agent in 2024

    Dana Adams

    Compass

    Section Image

  • G

    Buyer's Agent in 2024

    Grace Tian

    Maxreal

    Section Image
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Map

Source: MLSListings

MLS Number: ML81954946

MLSListings

APN: 053-271-030

California San Mateo County Redwood City 94061 Palm Park

515 Oak Ave, Redwood City, CA

This home is located at 515 Oak Ave, Redwood City, CA 94061 since 21 February 2024 and is currently estimated at $1,474,788, approximately $1,331 per square foot. This property was built in 1924. 515 Oak Ave is a home located in San Mateo County with nearby schools including Roosevelt Elementary School, John F. Kennedy Middle School, and Woodside High School.

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