Mixed-Use Apartment & Restaurant
2393 Spg Redwood City, CA 94063
2393 Spg, Redwood City, CA, 94063
$1,988,000
For Sale
$1,988,000
Five apartments plus an on-site commercial restaurant and a detached 6-garage building near transit and freeway access.
Property Size6,405 SF
Lot Size0.30 Acres
Price / SF$310.38
Days on Market40
Property Features for 2393 Spg
General Information
- Standard status
- Active
- Size
- 6,405 SF
- Lot size
- 0.30 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1949
Listing Agency
Reeve Brokerage
(888) 817-3383
Listed by
Kilian Goldin · License #02232600
(888) 817-3383
Source
Elliman
Added: Jun 7 Checked: Jul 16 at 9:42 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 Reeve Brokerage
Investment Insights
Based on property information with market context.
The property at 2391-2395 Spring Street in Redwood City is a mixed-use asset comprising five apartments, a commercial restaurant, and a standalone building with six garages. Total built area is listed at 6,405 square feet, with a lot area of 12,877 square feet.
Located in the downtown area, the property is described as close to transportation and freeway access. The provided mobility context shows a BikeScore of 54 (bikeable) and a WalkScore of 30 (car-dependent), supporting access by both vehicle and bike.
This setup can appeal to buyers seeking a combined residential and restaurant holding in one ownership, with dedicated garage parking included via the separate six-garage structure. The presence of both apartment units and a commercial restaurant may also offer operational flexibility for an owner-operator or a buyer looking to manage multiple income components within a single property footprint.
Located in the downtown area, the property is described as close to transportation and freeway access. The provided mobility context shows a BikeScore of 54 (bikeable) and a WalkScore of 30 (car-dependent), supporting access by both vehicle and bike.
This setup can appeal to buyers seeking a combined residential and restaurant holding in one ownership, with dedicated garage parking included via the separate six-garage structure. The presence of both apartment units and a commercial restaurant may also offer operational flexibility for an owner-operator or a buyer looking to manage multiple income components within a single property footprint.
Key Highlights
- Multi‑tenant property at 2391–2395 Spring Street, Redwood City
- 5 apartments plus an on‑site commercial restaurant
- Detached building includes 6 garages
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 | $334.3k | $52.20 |
| − Vacancy | −$17.4k | −$2.71 |
| EGI | $317.0k | $49.49 |
| − OpEx | −$142.6k | −$22.27 |
| NOI | $174.3k | $27.22 |
6,405 SF · lease $52.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.49M
$2.18M – $2.91M
NOI $174,325 @ 7.0% cap · market cap 8.77%
Second Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,339 @ 7.0% cap · market cap 6.91%
Theoretical Best
Warehouse
$5.09M
$4.45M – $5.94M
NOI $356,130 @ 7.0% cap · market cap 17.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Five apartments plus an on-site commercial restaurant and a detached 6-garage building near transit and freeway access.
Where is this apartment building located?
The property is located at 2393 Spg Redwood City, CA.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: Multi‑tenant property at 2391–2395 Spring Street, Redwood City; 5 apartments plus an on‑site commercial restaurant; Detached building includes 6 garages
