Triplex with Private
New
For Sale
$1,650,000
177 Poplar Ave, Redwood City, CA 94061
Three-unit property offers varied bedroom layouts and an owner-occupancy option.
Property Size4,530 SF
Lot Size0.17 Acres
Days on Market6
Property Features for 177 Poplar Ave
General Information
Standard status
Active
Size
4,530 SF
Lot size
0.17 Acres
Property subtype
Investment
Lease Term
12 months
Building Details
Building Size
4,530 SF
Year Built
1978
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Lehr Real Estate
(650) 200-8259
Listed By:
Mike Aranda · License #00867442
(650) 200-8259
Source:
Elliman
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 6 at 4:34AM
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 Lehr Real Estate
Investment Insights
Based on property information with market context.
This triplex contains two 2-bedroom, 1-bath residences and one 3-bedroom, 2-bath residence, creating a varied unit mix within one property. Each unit includes a private garage, while one residence also has access to a large yard. Constructed in 1978, the property occupies a 7,500-square-foot lot and has remained in the same family for more than 30 years.
The property is located at 177 Poplar Ave in Redwood City, within walking distance of downtown Redwood City and Woodside Road. The surrounding area provides access to freeways, shopping, restaurants, and transportation. WalkScore is 74, rated Very Walkable, and BikeScore is 55, rated Bikeable. The unit arrangement also supports an owner-occupancy option alongside the two additional residences.
The property is located at 177 Poplar Ave in Redwood City, within walking distance of downtown Redwood City and Woodside Road. The surrounding area provides access to freeways, shopping, restaurants, and transportation. WalkScore is 74, rated Very Walkable, and BikeScore is 55, rated Bikeable. The unit arrangement also supports an owner-occupancy option alongside the two additional residences.
Key Highlights
- Two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- Private garage assigned to each of the three units
- One unit includes a large yard
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
$131,641
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
7.98%
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%
$2,632,820
$2.6M
Cap Rate 7%
$1,880,586
$1.9M
Cap Rate 9%
$1,462,678
$1.5M
Market Conditions
NOI Build-Up for 4,530 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
$201.1K $44.40/SF
− Vacancy
−$13.1K −$2.89/SF
EGI
$188.1K $41.51/SF
− OpEx
−$56.4K −$12.45/SF
NOI
$131.6K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,632,820
Cap Rate 7%
$1,880,586
Cap Rate 9%
$1,462,678
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.19M
NOI $131,641 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$1.76M
$1.54M – $2.05M
NOI $123,293 @ 7.0% cap · market cap 7.47%
Theoretical Best
Warehouse
$3.60M
$3.15M – $4.20M
NOI $251,876 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,537
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?
Triplex - Three-unit property offers varied bedroom layouts and an owner-occupancy option.
Where is this triplex located?
The property is located at 177 Poplar Ave Redwood City, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; Private garage assigned to each of the three units; One unit includes a large yard
