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585 Old Canyon Rd, Fremont, CA 94536

$5,995,000 Approx. USD 0 beds, 0 baths

Reduced by $795,000 on 8/7/2026

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Marketed By

Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Todd Carter | todd@remaxaccord.com
Lic#: 01235456
Broker: Courtesy of RE/MAX Accord
Phone: 925-914-5844

Agent Remarks

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 Details

Property type: (Multi-Family)

Status: Active

MLS# 41135884

List price is $5,995,000 Reduced by $795,000 on 8/7/2026

Price: $5,995,000

HOA Fee is $0.00

Beds: 0

Baths: 0

Built in 1938

1.58 acres

Lot size: 1.5800

Subdivision: NILES AREA

County: Alameda

Construction: See Remarks,Wood Siding

Lot description: Street Level

Heating/cooling: Wall/Window Unit(s)

Heating description: Wall Furnace

Last Updated: 8/7/2026

Days On Market (DOM): 80

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Lat/Long: 37.578569, -121.967041.
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