585 Old Canyon Rd, Fremont, CA 94536

Fremont
Local realty services provided by:Better Homes and Gardens Real Estate Wine Country Group
585 Old Canyon Rd,Fremont, CA 94536
$5,495,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: todd carter
Office: re/max accord925-838-4100
MLS#:41135884
Source:CRMLS

Price summary

  • Price:$5,495,000

About this home

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...

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Home facts

  • Year built:1938
  • Subdivision & Development:NILES AREA
  • Listing ID #:41135884
  • Added:137 day(s) ago
  • Updated:October 08, 2026 at 11:27 AM

Heating and cooling

  • Cooling:Wall Window Units
  • Heating:Wall Furnance

Structure and exterior

  • Roof:Shingle
  • Year built:1938
  • Lot area:1.58 Acres
  • Lot Features:Street Level
  • Construction Materials:Wood Siding

Finances and disclosures

  • Price:$5,495,000
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