Five-Unit Apartment
For Sale
$2,500,000
217 Alden ST, Redwood City, CA 94063
Five apartments with a two-bedroom, one-bath mix in a well-located Redwood City property near downtown and transit.
Property Size4,992 SF
Days on Market18
Property Features for 217 Alden ST
General Information
Standard status
Active
Size
4,992 SF
Property subtype
FiveOrMoreUnits
Building Details
Building Size
4,992 SF
Year Built
1946
Listing Agency:
Corcoran Icon Properties
(650) 281-8877
Listed By:
Steve Belluomini · License #01095848
(650) 281-8877
Source:
Johnpaye
Added: Jul 18
Changed: Jul 31
Last Checked: Aug 3 at 10:49AM
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 Corcoran Icon Properties
Investment Insights
Based on property information with market context.
This five-unit apartment building offers a two-bedroom, one-bath unit mix and a total building size listed as +-4,992 SF. The property was built in 1946 and sits on an A+-5,000 SF lot.
Located near downtown Redwood City, the building is described as walkable to the Caltrain station and the Sequoia Station retail district. The surrounding area is tied in the remarks to employment demand from Oracle, Electronic Arts, and Box, as well as Stanford in Redwood City.
Designed for an owner who wants durable residential rental housing, the unit mix provides a consistent two-bedroom product across the five units.
Located near downtown Redwood City, the building is described as walkable to the Caltrain station and the Sequoia Station retail district. The surrounding area is tied in the remarks to employment demand from Oracle, Electronic Arts, and Box, as well as Stanford in Redwood City.
Designed for an owner who wants durable residential rental housing, the unit mix provides a consistent two-bedroom product across the five units.
Key Highlights
- +-4,992 SF five‑unit apartment building
- Five‑unit apartment building with two‑bedroom, one‑bath unit mix
- A+-5,000 SF lot
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 | $260.6k | $52.20 |
| − Vacancy | −$13.6k | −$2.71 |
| EGI | $247.0k | $49.49 |
| − OpEx | −$111.2k | −$22.27 |
| NOI | $135.9k | $27.22 |
4,992 SF · lease $52.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.26M
NOI $135,868 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.97M
$3.47M – $4.63M
NOI $277,564 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 94063, CA
35,836
Population
12,162
Households
2.9
Avg Household Size
34
Median Age
35%
College-Educated
74%
High-School Grad
6.5 sq mi
ZIP Area
5,513
Density / Sq Mi
$115,528
Median Household Income
$50,960
Median Earnings
$2,802
Median Rent
$1,077,100
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 - Five apartments with a two-bedroom, one-bath mix in a well-located Redwood City property near downtown and transit.
Where is this apartment building located?
The property is located at 217 Alden ST Redwood City, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: +-4,992 SF five‑unit apartment building; Five‑unit apartment building with two‑bedroom, one‑bath unit mix; A+-5,000 SF lot
