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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

Listed by Todd Carter • Re/Max Accord

$6,790,000

Est. payment - /mo

1.58 Acres Lot

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UPDATED:

Key Details

Property Type Commercial

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Subdivision Niles Area

MLS Listing ID 41135884

HOA Y/N No

Year Built 1938

Lot Size 1.580 Acres

Property Sub-Type 5 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 on the continued demand for housing in the East Bay. Whether envisioned as a townhome community, apartment redevelopment, or a thoughtfully designed residential project, 559 & 585 Old Canyon Road represent a truly rare investment and development opportunity in the heart of Fremont.

Location

State CA

County Alameda

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet

Fireplace No

Building

Lot Description Level, Premium Lot

Water Public

Others

Special Listing Condition Standard

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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585 Old Canyon Rd Fremont, CA 94536

Patricia Beattie

Key Details

Location

Interior

Building

Others

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