Redwood City Multifamily Investment
1151 Davis Street Redwood City, CA 94061
1151 Davis Street, Redwood City, CA, 94061
$3,100,000
For Sale
$3,100,000
Turnkey 7-unit apartment building in Redwood City.
Property Size5,510 SF
Price / SF$562.61
Days on Market191
Property Features for 1151 Davis Street
General Information
- Standard status
- Active
- Size
- 5,510 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1961
Listing Agency
Cornish & Carey Commercial
(650) 224-3118
Listed by
Steve Zirelli · License #01929245
(650) 224-3118
Source
Compass
Added: Jan 7 Checked: Jul 17 at 4:48 am
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 Cornish & Carey Commercial
Investment Insights
Based on property information with market context.
Located west of El Camino in Redwood City, 1151 Davis St. is a 7-unit apartment building. The property consists of one 2-bedroom unit, five 1-bedroom units, and one studio unit. Two units include balconies, while two others feature private yards. All units have been renovated with new kitchens, bathrooms, flooring, doors, molding, and Schlage Smart Locks. Electrical main panels have been upgraded, and all but one of the sub-panels have been upgraded. A bike shed with wall mount bike racks has been constructed on the property. The building has a total size of 5510 square feet.
Key Highlights
- Completely renovated units: new kitchens, bathrooms, flooring, doors, molding, and Schlage Smart Locks.
- Turnkey investment opportunity in a desirable west of El Camino location in Redwood City.
- Mix of unit types: one 2‑bedroom, five 1‑bedroom, and one studio unit.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $287.6k | $52.20 |
| − Vacancy | −$15.0k | −$2.71 |
| EGI | $272.7k | $49.49 |
| − OpEx | −$122.7k | −$22.27 |
| NOI | $150.0k | $27.22 |
5,510 SF · lease $52.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.14M
$1.87M – $2.50M
NOI $149,966 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.38M
$3.83M – $5.11M
NOI $306,366 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Turnkey 7-unit apartment building in Redwood City.
Where is this apartment building located?
The property is located at 1151 Davis Street Redwood City, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Completely renovated units: new kitchens, bathrooms, flooring, doors, molding, and Schlage Smart Locks.; Turnkey investment opportunity in a desirable west of El Camino location in Redwood City.; Mix of unit types: one 2‑bedroom, five 1‑bedroom, and one studio unit.
