Downtown Redwood City Apartment
128 Roosevelt Avenue Redwood City, CA 94061
New
For Sale
$3,100,000
Value-add 10-unit apartment community built in 1951 with one-bedroom, one-bath units on a 9,967 sq. ft. parcel.
Property Size6,976 SF
Lot Size0.23 Acres
Price / SF$444.38
Days on Market3
Property Features for 128 Roosevelt Avenue
General Information
- Standard status
- Active
- Size
- 6,976 SF
- Lot size
- 0.23 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1951
Listing Agency:
Marcus & Millichap
(408) 483-5040
Listed By:
Jimmy Castellanos · License #02024152
(408) 483-5040
Source:
Exitrealty
Added: Jul 22
Changed: Jul 24
Last Checked: Jul 24 at 8:03AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
128 Roosevelt Avenue is a 10-unit apartment community offering one-bedroom, one-bathroom residences. The property was built in 1951 and totals approximately 6,976 square feet of building area across a 9,967 square foot parcel, per county records.
The building is located in Downtown Redwood City. The property has been held under the same ownership for over 50 years.
This is a value-add opportunity featuring 10 individual apartment homes in a small multifamily configuration.
The building is located in Downtown Redwood City. The property has been held under the same ownership for over 50 years.
This is a value-add opportunity featuring 10 individual apartment homes in a small multifamily configuration.
Key Highlights
- 10‑unit apartment community built in 1951 in downtown Redwood City
- Ten (10) one‑bedroom, one‑bath units
- Approximately 6,976 building SF on a 9,967 SF parcel (per county records)
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 | $364.1k | $52.20 |
| − Vacancy | −$18.9k | −$2.71 |
| EGI | $345.2k | $49.49 |
| − OpEx | −$155.3k | −$22.27 |
| NOI | $189.9k | $27.22 |
6,976 SF · lease $52.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.71M
$2.37M – $3.16M
NOI $189,866 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.54M
$4.85M – $6.46M
NOI $387,878 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bright as White ...
Hardware & Home Improvement
FAQs
What type of property is this?
Apartment building - Value-add 10-unit apartment community built in 1951 with one-bedroom, one-bath units on a 9,967 sq. ft. parcel.
Where is this apartment building located?
The property is located at 128 Roosevelt Avenue 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: 10‑unit apartment community built in 1951 in downtown Redwood City; Ten (10) one‑bedroom, one‑bath units; Approximately 6,976 building SF on a 9,967 SF parcel (per county records)
