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Residential Income - 585 Old Canyon Rd, Fremont, CA

$4,099,000

585 Old Canyon Rd, Fremont, CA

MLS# 41150704

585 Old Canyon Rd, Fremont, CA 94536 - $4,099,000 · Multi-Family Home for Sale, photo 1 585 Old Canyon Rd, Fremont, CA 94536 - $4,099,000 · Multi-Family Home for Sale, photo 2 585 Old Canyon Rd, Fremont, CA 94536 - $4,099,000 · Multi-Family Home for Sale, photo 3 585 Old Canyon Rd, Fremont, CA 94536 - $4,099,000 · Multi-Family Home for Sale, photo 4 585 Old Canyon Rd, Fremont, CA 94536 - $4,099,000 · Multi-Family Home for Sale, photo 5
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Description

An exceptional opportunity awaits at 559 Old Canyon Road in the highly sought-after Niles district of Fremont. 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.

Property details

Year built
1938
Property type
Residential Income
Lot size
34,600 sqft

Location

585 Old Canyon Rd • Fremont, CA 94536

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Listing Agent

Todd Carter

DRE #: 01235456

Brokerage: RE/MAX Accord

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CRMLS

MLS# 41150704

Listed: 10/8/2026 8:58 AM

© 2026 California Regional Multiple Listing Service, Inc.

Based on information from the California Regional Multiple Listing Service, Inc. as of 10/15/2026 1:31 AM. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.

IDX information is provided exclusively for consumers' personal, non-commercial use. Information is deemed reliable but not guaranteed. Buyer should independently verify all information.

Listed by: RE/MAX Accord

Equal Housing Opportunity

Advertising Broker: Nalren Corp (CA DRE #02423715)

Licensed in the state of California

Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.

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Nalren Corp. · CA DRE #02423715