5-Unit Apartment
For Sale
$2,250,000
103-115 James AVE, Redwood City, CA 94062
Five-unit multifamily property with a detached residence, apartment building, separately metered utilities, and a two-car garage.
Property Size4,414 SF
Lot Size0.15 Acres
Price / SF$509.74
Days on Market50
Property Features for 103-115 James AVE
General Information
Standard status
Active
Size
4,414 SF
Total Parking Spaces
2
Lot size
0.15 Acres
Property subtype
FiveOrMoreUnits
Net Operating Income
$95,610
Financials
Cap Rate
4.25%
Gross Income
$151,560
Gross Rent Multiplier
14.85
Units
Unit Mix
1 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Building Details
Building Size
4,414 SF
Year Built
1922
Buildings
2
Listing Agency:
Compass
Listed By:
Nate Gustavson · License #01898316
(415) 786-9410
Source:
Johnpaye
Added: Sep 16
Changed: Nov 2
Last Checked: Nov 3 at 3:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This five-unit multifamily property combines a four-unit apartment building with a detached single-family residence on one parcel. The improvements contain approximately 4,414 square feet across a 6,500-square-foot lot. The unit mix includes one 1-bedroom/1-bath apartment measuring 725 square feet and four 2-bedroom/1-bath units ranging from 875 to 925 square feet, including the 1,014-square-foot detached house. Separately metered electric and gas, Siemens circuit-breaker sub-panels, and a two-car garage support the property’s physical configuration.
Built in 1922, the property is located at 103-115 James Avenue in Redwood City’s Arch Street corridor, west of El Camino Real. A California SB 721 mandated inspection has been completed and is on file. Current performance is reported at a 4.25% cap rate and 14.85 GRM.
Built in 1922, the property is located at 103-115 James Avenue in Redwood City’s Arch Street corridor, west of El Camino Real. A California SB 721 mandated inspection has been completed and is on file. Current performance is reported at a 4.25% cap rate and 14.85 GRM.
Key Highlights
- Five units across a 4‑unit apartment building and detached single‑family residence
- Approximately 4,414 square feet of building area on a 6,500‑square‑foot lot
- Unit mix includes one 1‑bedroom/1‑bath unit and four 2‑bedroom/1‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,136
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,402,720
$2.4M
Cap Rate 7%
$1,716,229
$1.7M
Cap Rate 9%
$1,334,844
$1.3M
Market Conditions
NOI Build-Up for 4,414 SF
Gross rent
$230.4K $52.20/SF
− Vacancy
−$12.0K −$2.71/SF
EGI
$218.4K $49.49/SF
− OpEx
−$98.3K −$22.27/SF
NOI
$120.1K $27.22/SF
Area
San Mateo County, CA
Vacancy
5.20%
Lease Rate
$52.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,402,720
Cap Rate 7%
$1,716,229
Cap Rate 9%
$1,334,844
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,136 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.51M
$3.07M – $4.09M
NOI $245,426 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,714
Businesses Nearby
Explore this area
Business Placement
Demographics for 94062, CA
26,689
Population
10,496
Households
2.5
Avg Household Size
45
Median Age
68%
College-Educated
98%
High-School Grad
64.7 sq mi
ZIP Area
413
Density / Sq Mi
$233,333
Median Household Income
$115,938
Median Earnings
$2,885
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property with a detached residence, apartment building, separately metered utilities, and a two-car garage.
Where is this apartment building located?
The property is located at 103-115 James AVE Redwood City, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Five units across a 4‑unit apartment building and detached single‑family residence; Approximately 4,414 square feet of building area on a 6,500‑square‑foot lot; Unit mix includes one 1‑bedroom/1‑bath unit and four 2‑bedroom/1‑bath units
