Active

585 Old Canyon Rd

Fremont, CA 94536

$6,790,000 $28,626/Mo

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Overview

Bed

Bath

68,824

Sqft(Lot)

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 nea r 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

Property Type : Residential Income

Price : $6,790,000

AD Id : 79230887

MLS Id : 41135884

Lot Size : 68,824 Sqft

Year Built : 1938

County : Alameda

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 0
Interior Features

Roof: Shingle
Cooling Features

Wall/Window Unit(s) Air Conditioning

Heating Source

Wall Furnace Has Heating

Building Information

Year Built: 1938 Construction: See Remarks,Wood Siding Roof: Shingle

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 1.58
Lot Size Source: Vendor Enhanced Lot Size Square Feet: 68824

Listing Price Information

Original List Price: 6,790,000 Listing Contract Date: 2026-05-24

Tax Information

Parcel Number: 50766012

Other Property Info

Source Listing Status: Active Source Neighborhood: Directions: Cross Street: Niles Canyon. Source Property Type: Residential Income
Building and Construction

Property Age: 88 Year Built Source: Vendor Enhanced

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
Barnes Lane, Fremont, CA, 94536	$1,660,000	4	3	1,603	1,603 SqFt
Stenhammer Drive, Fremont, CA, 94536	$1,899,900	3	3	2,042	2,042 SqFt
1258 Filton Court, Fremont, CA, 94536	$1,195,000	3	1	1,062	1,062 SqFt
38047 Stenhammer Drive, Fremont, CA, 94536	$2,198,000	4	4	4,093	4,093 SqFt
919 Old Canyon Road, Fremont, CA, 94536	$1,999,888	4	4	2,194	2,194 SqFt
38625 Oliver Way, Fremont, CA, 94536	$2,588,888	4	3	2,553	2,553 SqFt
38720 Stonington Terrace, Fremont, CA, 94536	$1,499,000	3	2	1,638	1,638 SqFt
339 I St, Fremont, CA, 94536	$2,499,000	6	3	3,590	3,590 SqFt
37286 3rd St, Fremont, CA, 94536	$1,598,000	4	3	1,765	1,765 SqFt
330 Hillview Drive, Fremont, CA, 94536	$1,850,000	3	2	1,824	1,824 SqFt

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ByOwner last updated this listing 06/06/2026 @ 04:50

MLS: 41135884 LISTED BY: Todd Carter, RE/MAX Accord 925-838-4100 SOURCE: CRMLS