Three-Unit Residential
For Sale
Under Contract
$1,650,000
177 Poplar AVE, Redwood City, CA 94061
Residential Income (2-4 units), REDWOOD CITY, CA
Property Size4,530 SF
Lot Size0.17 Acres
Price / SF$364.24
Days on Market40
Property Features for 177 Poplar AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R40000
Bedrooms
7
Rooms
Bedroom 7, Laundry Room, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 5
Parking
2
Parking features
Assigned, Off Street, Garage - Attached
Appliances
Appliances - Vary by Unit
Lot features
Grade - Level
Subdivision
Central Park Etc.
Standard status
Active Under Contract
Size
4,530 SF
Lot size
0.17 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1978
Number of units
3
Flooring type
Laminate
Building materials
Wood Frame
Roof type
Metal
Listing Agency:
Guide Real Estate
(650) 766-5300
Listed By:
Alex Lehr · License #00867442
(650) 394-6607
Added: Jul 30
Changed: Sep 4
Last Checked: Sep 7 at 1:06PM
MLS# ML82056083
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1978 triplex contains two two-bedroom, one-bath residences and one three-bedroom, two-bath residence, providing 4,530 square feet of living area. Each unit has a private attached garage, while one residence also includes a large yard. The property features wood-frame construction, laminate flooring, electric heating, ceiling fans, a metal roof, and public water service.
Set on a 7,500-square-foot lot at 177 Poplar Avenue, the property is within walking distance of downtown Redwood City and Woodside Road. Freeway access, shopping, restaurants, and transportation are also identified in the surrounding area. The property is zoned R40000 and includes off-street, assigned parking in addition to the attached garages.
Set on a 7,500-square-foot lot at 177 Poplar Avenue, the property is within walking distance of downtown Redwood City and Woodside Road. Freeway access, shopping, restaurants, and transportation are also identified in the surrounding area. The property is zoned R40000 and includes off-street, assigned parking in addition to the attached garages.
Key Highlights
- Triplex with two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- 4,530 square feet of living area on a 7,500‑square‑foot lot
- Private attached garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$131,641
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,632,820
$2.6M
Cap Rate 7%
$1,880,586
$1.9M
Cap Rate 9%
$1,462,678
$1.5M
Market Conditions
NOI Build-Up for 4,530 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$201.1K $44.40/SF
− Vacancy
−$13.1K −$2.89/SF
EGI
$188.1K $41.51/SF
− OpEx
−$56.4K −$12.45/SF
NOI
$131.6K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,632,820
Cap Rate 7%
$1,880,586
Cap Rate 9%
$1,462,678
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.19M
NOI $131,641 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,293 @ 7.0% cap · market cap 7.47%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,876 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 94061, CA
36,704
Population
14,122
Households
2.6
Avg Household Size
38
Median Age
51%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
9,411
Density / Sq Mi
$141,599
Median Household Income
$66,388
Median Earnings
$2,818
Median Rent
$1,938,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Separate attached garages accompany varied floor plans and a private yard for one residence.
Where is this triplex located?
The property is located at 177 Poplar AVE Redwood City, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Triplex with two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; 4,530 square feet of living area on a 7,500‑square‑foot lot; Private attached garage for each residence
