Redwood City Multifamily Investment
For Sale
$2,950,000
3212 Rolison Road, Redwood City, CA 94063
Eight-unit apartment building near downtown Redwood City.
Property Size7,040 SF
Lot Size0.23 Acres
Price / SF$419.03
Days on Market192
Property Features for 3212 Rolison Road
General Information
Standard status
Active
Size
7,040 SF
Lot size
0.23 Acres
Property subtype
Commercial
Amenities
Detached Garage
Flat/Low Pitch Roof
Wall Furnace Heating
Building Details
Year Built
1964
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
COLE SIMPSON · License #02016525
Source:
Corcoran
Added: Jan 30
Changed: Aug 8
Last Checked: Apr 5 at 8:21PM
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.
Located in Redwood City, California, 3212 Rolison Rd is an 8-unit apartment community. Constructed in 1964, the property has a gross building area of approximately 7,040 square feet and is situated on a 10,044 square foot parcel of land. The building offers tenants two-bedroom floor plans. The property is located minutes from Downtown Redwood City, which provides shopping, dining, and entertainment options. The Redwood City Caltrain Station, offering Baby Bullet services, is also nearby, providing access to employment and entertainment centers in San Francisco, the Peninsula, and the South Bay. Residents have access to U.S. Highway 101, Interstate 280, the San Mateo- Hayward Bridge and the Dumbarton Bridge.
Key Highlights
- Prime location in Redwood City, near Downtown Redwood City's shopping, dining, and entertainment.
- Proximity to Redwood City Caltrain Station with Baby Bullet service for easy commuting.
- Easy access to major transportation corridors: U.S. Highway 101, Interstate 280, San Mateo‑Hayward Bridge, and Dumbarton Bridge.
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
$191,608
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
6.50%
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%
$3,832,160
$3.8M
Cap Rate 7%
$2,737,257
$2.7M
Cap Rate 9%
$2,128,978
$2.1M
Market Conditions
NOI Build-Up for 7,040 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
$367.5K $52.20/SF
− Vacancy
−$19.1K −$2.71/SF
EGI
$348.4K $49.49/SF
− OpEx
−$156.8K −$22.27/SF
NOI
$191.6K $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%
$3,832,160
Cap Rate 7%
$2,737,257
Cap Rate 9%
$2,128,978
Alternative Uses
Best Use
Apartment 5plus
$2.74M
$2.40M – $3.19M
NOI $191,608 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.59M
$4.89M – $6.52M
NOI $391,437 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,484
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit apartment building near downtown Redwood City.
Where is this apartment building located?
The property is located at 3212 Rolison Road Redwood City, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Prime location in Redwood City, near Downtown Redwood City's shopping, dining, and entertainment.; Proximity to Redwood City Caltrain Station with Baby Bullet service for easy commuting.; Easy access to major transportation corridors: U.S. Highway 101, Interstate 280, San Mateo‑Hayward Bridge, and Dumbarton Bridge.
