Five-Unit Apartment
217 Alden ST, Redwood City, CA 94063
For Sale
$2,348,000
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 Market117
Property Features for 217 Alden ST
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Corcoran Icon Properties
Listed By:
Steve Belluomini · License CA #01095848
(650) 281-8877
Source:
Johnpaye
Added: Jul 18
Changed: Nov 2
Last Checked: Nov 10 at 2:40PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$135,868
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,717,360
$2.7M
Cap Rate 7%
$1,940,971
$1.9M
Cap Rate 9%
$1,509,644
$1.5M
Market Conditions
NOI Build-Up for 4,992 SF
Gross rent
$260.6K $52.20/SF
− Vacancy
−$13.6K −$2.71/SF
EGI
$247.0K $49.49/SF
− OpEx
−$111.2K −$22.27/SF
NOI
$135.9K $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 Rate 5%
$2,717,360
Cap Rate 7%
$1,940,971
Cap Rate 9%
$1,509,644
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.26M
NOI $135,868 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,992 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,586
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Redwood City
Vacancy Rate% for Multifamily in West region
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 $2,348,000.
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
