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Listed by Todd Carter, DRE #01235456 • RE/MAX Accord
$6,790,000
Est. payment /mo
1.58 Acres Lot
Active
585 Old Canyon Rd Fremont, CA 94536
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Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID BE41135884
Year Built 1938
Lot Size 1.580 Acres
Property Sub-Type Five or More Units
Source Bay East
Property Description
An exceptional opportunity awaits at 559 & 585 Old Canyon Road in the highly sought-after Niles district of Fremont. Offered together, these two parcels combine for approximately 1.58 acres of prime infill land zoned R-6, presenting tremendous upside potential for developers, investors, and builders seeking a rare large-scale residential redevelopment opportunity in one of the Bay Area's most desirable submarkets. Currently situated on 559 Old Canyon Road are 15 occupied apartment units generating an impressive net operating income of approximately $271,000 annually, providing immediate cash flow while plans and entitlements are pursued. The combination of strong in-place income and valuable development potential creates a unique opportunity rarely found in today's market. Positioned near the historic and charming Niles district, the property benefits from close proximity to vibrant downtown shops, dining, entertainment, parks, and commuter routes. Niles is widely recognized for its rich history, small-town character, scenic surroundings, and strong community appeal, making this location especially attractive for future residential development. With R-6 zoning, substantial lot size, and an outstanding Fremont location, this offering provides developers the chance to capitalize
Location
State CA
County Alameda
Area Fremont
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Flooring Carpet - Wall to Wall
Exterior
Exterior Feature Other, Siding - Wood
Parking Features Attached Garage, Guest / Visitor Parking, Off-Site Parking, Parking Area
Roof Type Composition
Building
Lot Description Grade - Level, Other
Others
Tax ID 507-660-12
Special Listing Condition Not Applicable
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