Six-Unit Apartment
New
For Sale
$2,998,000
1051 Whipple AVE, Redwood City, CA 94062
Corner-lot multifamily property with shared garage and storage areas.
Property Size7,513 SF
Price / SF$399.20
Days on Market4
Property Features for 1051 Whipple AVE
General Information
Standard status
Active
Size
7,513 SF
Property subtype
FiveOrMoreUnits
Units
Unit Mix
3 x 2BR/1.5BA, 1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Additional Details
Road Access
Yes
Building Details
Building Size
7,513 SF
Year Built
1951
Buildings
1
Stories
2
Listing Agency:
Realsmart Properties
Listed By:
Bryan Jacobs · License #01129660
(650) 642-8915
Source:
Johnpaye
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 10:04AM
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 Realsmart Properties
Investment Insights
Based on property information with market context.
This six-unit apartment property includes approximately 7,510 square feet across two residential floors, with shared garage and storage space on the ground level. The unit mix comprises three two-bedroom, 1.5-bath apartments, one two-bedroom, one-bath apartment, and two one-bedroom, one-bath apartments. The building was constructed in 1951.
The property occupies a corner lot at Whipple Avenue and Arch Street in Redwood City. One unit is vacant and available for lease-up, while the remaining configuration provides a varied mix of one- and two-bedroom residences within the building.
The property occupies a corner lot at Whipple Avenue and Arch Street in Redwood City. One unit is vacant and available for lease-up, while the remaining configuration provides a varied mix of one- and two-bedroom residences within the building.
Key Highlights
- Six‑unit apartment building with approximately 7,510 square feet
- Unit mix includes 3 two‑bedroom / 1.5‑bath units, 1 two‑bedroom / 1‑bath unit, and 2 one‑bedroom / 1‑bath units
- Shared ground‑floor common garage and storage
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
$204,400
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
6.82%
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%
$4,088,000
$4.1M
Cap Rate 7%
$2,920,000
$2.9M
Cap Rate 9%
$2,271,111
$2.3M
Market Conditions
NOI Build-Up for 7,510 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
$392.0K $52.20/SF
− Vacancy
−$20.4K −$2.71/SF
EGI
$371.6K $49.49/SF
− OpEx
−$167.2K −$22.27/SF
NOI
$204.4K $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 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%
$4,088,000
Cap Rate 7%
$2,920,000
Cap Rate 9%
$2,271,111
Alternative Uses
Best Use
Apartment 5plus
$2.92M
$2.56M – $3.41M
NOI $204,400 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.97M
$5.22M – $6.96M
NOI $417,570 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,217
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Corner-lot multifamily property with shared garage and storage areas.
Where is this apartment building located?
The property is located at 1051 Whipple AVE Redwood City, CA.
What is the asking price?
The asking price for this property is $2,998,000.
What are key features of this property?
This property features: Six‑unit apartment building with approximately 7,510 square feet; Unit mix includes 3 two‑bedroom / 1.5‑bath units, 1 two‑bedroom / 1‑bath unit, and 2 one‑bedroom / 1‑bath units; Shared ground‑floor common garage and storage
