138-140 Berkshire Avenue, Redwood City, CA 94063

Property Description

Magnify is pleased to present 138-140 Berkshire Avenue, a rare opportunity to acquire two contiguous 5-unit buildings on separate APNs in Redwood City. Offered at a 6.4% in-place cap rate with over $28,000/month in rents, this well-maintained 10-unit offers strong current cash flow and value-add potential. The unit mix includes (4) 2BD/1BA and (6) 1BD/1BA units with spacious floor plans. Major improvements include new roofs (2023), upgraded electrical subpanels (2025), Square D main electrical disconnects, dual-pane windows, fresh exterior paint (2026), newer central water heaters, and a passing SB-721 inspection. Two oversized rear garages provide valuable off-street parking and potential ADU conversion. Additional upside includes potential for new-construction ADUs on the 138 Berkshire parcel, subject to zoning and permitting. Located in a core Peninsula location less than 1 mile from the Atherton border, the property offers convenient access to Highway 101, Downtown Redwood City, Caltrain, and major employers. As an unincorporated property, it is also outside the City of Redwood City's jurisdiction and current rent control ordinance (buyer to verify). Strong in-place income and multiple avenues for future expansion make 138-140 Berkshire an attractive Peninsula investment.