585 Old Canyon Rd,Fremont, CA 94536
Fremont, CA 94536
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.
Details
| MLS # | 41135884 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1938 |
| Days On Site | 103 |
| Listing Provided By | RE/MAX Accord | Todd Carter |
Features
| Units | 16 |
|---|---|
| Acreage | 1.58 |
Interior
| Cooling | Wall Window Units |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Shingle |
|---|---|
| Construction Materials | See Remarks, Wood Siding |
| Lot Features | Street Level |
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Fremont |
| Zip Code | 94536 |
| Community Name | NILES AREA |
| Listing VS Median (in NILES AREA) | |
Price: $5,995,000 low | high Med: $0 On site: 103 low | high Med: | |
Market Activity 94536
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Fremont |
| Zip Code | 94536 |
| Community Name | NILES AREA |
| Listing VS Median (in NILES AREA) | |
Price: $5,995,000 low | high Med: $0 On site: 103 low | high Med: | |