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32305229
32305222

1460 Kentfield Avenue, Redwood City, CA 94061

JC
CA 02024152
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$5,995,000
31 days on market
Updated 28 days ago

The Grove on Kentfield

Details
APN 059041630
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,892
Net Rentable (SqFt) 5,892
Units 4
Cap Rate 4.05%
NOI $242,547
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 4.19%
Pro-Forma NOI $251,412
Price per SqFt $1,017
Class A
Year Built 2024
Buildings 2
Stories 1
Acreage 11179.000
Parking Spaces spaces
Investment Type Stabilized
Sale Condition N/A

Trophy New Construction/Generational Asset (Originally Built As For Sale Townhomes Completed 2024)

Marketing description

  • SITUATED IN THE PALM PARK NEIGHBORHOOD
  • STRONG-IN PLACE RENTS WITH UPSIDE POTENTIAL
  • MINUTES TO DOWNTOWN REDWOOD CITY
  • LOCATED IN THE HEART OF THE SILICON VALLEY BETWEEN SAN FRANCISCO AND SAN JOSE
  • CONVENIENT ACCESS TO HIGHWAY 101 AND INTERSTATE 280
  • PROXIMITY TO REDWOOD CITY CALTRAIN STATION

Investment highlights

1460 Kentfield Avenue (The Grove on Kentfield) presents a rare opportunity to acquire a best-in-class, newly constructed four-unit multifamily asset completed in 2024. The property combines thoughtful design, high-quality construction, and strong in-place income, offering investors a generational asset with minimal maintenance and lasting tenant appeal. Comprised of two buildings totaling approximately 5,892 square feet, the community features an excellent unit mix of (2) spacious 4-bedroom / 3.5-bath townhome-style residences and (2) well-appointed 2-bedroom / 2-bath units. The property generates nearly $28,000 per month in gross rental income, with meaningful upside potential as rents continue to rise amid a constrained new construction pipeline in the area.

Every aspect of the property reflects a level of quality rarely seen in today’s multifamily construction, blending durable infrastructure with modern finishes. Each unit is individually metered for water and electricity and includes landlord-owned solar systems that transfer with the sale, providing improved efficiency and reduced ongoing utility costs. The community is fully electric with no gas, offering a safer and more sustainable living environment. Ownership has also completed major long-term improvements, including new sewer lines, upgraded PG&E service with a new power pole, fire sprinkler systems throughout, and an 18-inch crawl space for easier future maintenance. Interior finishes rival high-end for-sale housing, positioning the property above typical rental offerings. Residences feature French oak hardwood flooring, sound-insulated drywall, solid core doors, Emtek hardware, LED lighting, keyless entry, and private outdoor space. The townhome units further stand out with attached garages, EV charging capability, premium appliances, wine refrigerators, and open-concept living areas designed for today’s renters.

Located in the heart of Redwood City, one of the Peninsula’s most supply-constrained rental markets, the property benefits from a vibrant downtown, strong dining scene, Caltrain access, and proximity to major employment centers. With convenient access to Highway 101, Interstate 280, and Caltrain, The Grove on Kentfield is near leading employers including Meta, Google, Oracle, Stanford University, Stanford Health Care, and Sand Hill Road. Opportunities of this caliber are rare, making The Grove on Kentfield a standout trophy asset in Silicon Valley.

Listing Contacts

JC
CA 02024152
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$242,547.00
$20,212.25/mo

Valuation Metrics

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DSCR
4.05%
Cap Rate
4.05%
ROI

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Additional Information

Name
Jimmy Castellanos
License
02024152
Brokerage
Marcus & Millichap
Brokerage Phone
(650) 391-1777
Brokerage Address
2626 Hanover Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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