Redwood City Multifamily Investment
For Sale
$3,100,000
1151 Davis Street, Redwood City, CA 94061
Turnkey 7-unit apartment building in Redwood City.
Property Size5,510 SF
Price / SF$562.61
Days on Market206
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
Changed: Jul 10
Last Checked: Jul 31 at 3:26PM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,247
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?
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.
