585 Old Canyon Rd | Image 1
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$5,495,000

For Sale

4 months ago

585 Old Canyon Rd, Fremont, CA

House

MLS® 41135884

0 Bed

0 Bath

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0

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 136
Lot Size 1.58 Acres
Approx. Age 1938
MLS® Number 41135884

Property Address: 585 Old Canyon Rd, Fremont, CA, 94536-1774

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number41135884
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1938
Basement
Driveway
Garage Spaces
HeatWall Furnace
A/CWall Window Units

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 24, 2026List Date
$5,495,000List Price
  • Commute

Commute

Starting Address
Destination Address
585 Old Canyon Rd, Fremont, CA

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