41-Unit Apartment
New
For Sale
$4,875,000
1548 Hudson Street, Redwood City, CA 94061
Multifamily communities span San Mateo and Contra Costa Counties, with whole-portfolio, sub-portfolio, and individual-asset acquisition options.
Property Size16,059 SF
Price / SF$303.57
Days on Market6
Property Features for 1548 Hudson Street
General Information
Standard status
Active
Size
16,059 SF
Property subtype
Multi-Family
Building Details
Year Built
1964
Listing Agency:
Touchstone Commercial Partners Inc
(415) 275-0229
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 4:26PM
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 Touchstone Commercial Partners Inc
Investment Insights
Based on property information with market context.
This multifamily offering comprises apartment communities totaling 41 units across Millbrae, Redwood City, Martinez, and Concord. Individual properties range from 8 to 15 units, and the portfolio can be acquired as a complete offering, by county-based sub-portfolio, or asset by asset. The properties are located in San Mateo and Contra Costa Counties, providing distinct Peninsula and East Bay groupings.
The Redwood City asset at 1548 Hudson Street contains the portfolio’s largest floorplans, averaging approximately 1,160 square feet per unit, and was built in 1964. The Millbrae property at 472-480 Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects directly with Caltrain. In-place rents at the two Peninsula properties are reported at 10.54% and 10.34% below market, respectively. The San Mateo County sub-portfolio represents 25 units with a 4.94% go-to-market cap rate, while the Contra Costa County group represents 16 units at 5.26%.
The Redwood City asset at 1548 Hudson Street contains the portfolio’s largest floorplans, averaging approximately 1,160 square feet per unit, and was built in 1964. The Millbrae property at 472-480 Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects directly with Caltrain. In-place rents at the two Peninsula properties are reported at 10.54% and 10.34% below market, respectively. The San Mateo County sub-portfolio represents 25 units with a 4.94% go-to-market cap rate, while the Contra Costa County group represents 16 units at 5.26%.
Key Highlights
- 41‑unit apartment portfolio across Millbrae, Redwood City, Martinez, and Concord
- Individual apartment assets range from 8 to 15 units
- Available as a whole, by sub‑portfolio, or asset by asset
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
$437,079
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
8.97%
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%
$8,741,580
$8.7M
Cap Rate 7%
$6,243,986
$6.2M
Cap Rate 9%
$4,856,433
$4.9M
Market Conditions
NOI Build-Up for 16,059 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
$838.3K $52.20/SF
− Vacancy
−$43.6K −$2.71/SF
EGI
$794.7K $49.49/SF
− OpEx
−$357.6K −$22.27/SF
NOI
$437.1K $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%
$8,741,580
Cap Rate 7%
$6,243,986
Cap Rate 9%
$4,856,433
Alternative Uses
Best Use
Apartment 5plus
$6.24M
$5.46M – $7.28M
NOI $437,079 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.76M
$11.16M – $14.88M
NOI $892,910 @ 7.0% cap · market cap 18.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
980
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 - Multifamily communities span San Mateo and Contra Costa Counties, with whole-portfolio, sub-portfolio, and individual-asset acquisition options.
Where is this apartment building located?
The property is located at 1548 Hudson Street Redwood City, CA.
What is the asking price?
The asking price for this property is $4,875,000.
What are key features of this property?
This property features: 41‑unit apartment portfolio across Millbrae, Redwood City, Martinez, and Concord; Individual apartment assets range from 8 to 15 units; Available as a whole, by sub‑portfolio, or asset by asset
