$6,790,000

585 Old Canyon Rd, Fremont, CA 94536

  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1938
  • Property Lot Size Icon1.58acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 month ago

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.

Listing Status:
Active
Date Added:
May 24, 2026
Data Last Updated:
July 6, 2026 at 6:16AM
Listing Office:
RE/MAX Accord : 925-838-4100
Listing Agent:
Todd Carter : 925-914-5844
MLS ID:
41135884
  • A/C: Wall/Window Unit(s)
  • Heating: Wall Furnace
  • Parking: Parking spaces: 0
  • Roofing: Shingle
  • General: See RemarksWood Siding
  • HOA Amenities: 0.0
  • Originating MLS: CRMLS_CCBE
  • County: Alameda
  • Zoning: 50766012
  • Source: CRMLS_CCBE

This listing courtesy of Todd Carter , RE/MAX Accord

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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