Two-Unit Duplex with
New
For Sale
$1,590,000
3448 Page ST, Redwood City, CA 94063
Separately metered residences offer private yards, indoor laundry, and convenient access to major regional routes.
Property Size1,987 SF
Days on Market4
Property Features for 3448 Page ST
General Information
Standard status
Active
Size
1,987 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$22,000
Amenities
in-unit laundry
private backyard
Building Details
Building Size
1,987 SF
Year Built
1960
Listing Agency:
Coldwell Banker Realty
Listed By:
David Solomon · License #00863726
(408) 203-2595
Source:
Lynnnorth
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 21 at 2:49PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1960, this duplex contains two residential units, each offering 993 SF with 2 bedrooms and 1 bathroom. Both homes include a generous main room, full-size indoor laundry, an attached 1-car garage, and a private backyard. Utilities are separately metered for each unit.
The property is in Redwood City’s Friendly Acres neighborhood, near Stanford’s Redwood City campus, Delucchi’s Market at Marsh Manor, the Facebook campus and headquarters, Bayfront Park, Costco, downtown Redwood City, and CALTrain. Commuters have access to Highway 101, the Dumbarton Bridge, Woodside Road (84), Highway 280, and El Camino Real (87).
The property is in Redwood City’s Friendly Acres neighborhood, near Stanford’s Redwood City campus, Delucchi’s Market at Marsh Manor, the Facebook campus and headquarters, Bayfront Park, Costco, downtown Redwood City, and CALTrain. Commuters have access to Highway 101, the Dumbarton Bridge, Woodside Road (84), Highway 280, and El Camino Real (87).
Key Highlights
- Two‑unit duplex with 993 SF per unit
- Each unit includes 2 bedrooms and 1 bathroom
- Attached 1‑car garage and private backyard for each unit
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
$57,742
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
3.63%
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%
$1,154,840
$1.2M
Cap Rate 7%
$824,886
$824.9K
Cap Rate 9%
$641,578
$641.6K
Market Conditions
NOI Build-Up for 1,987 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
$88.2K $44.40/SF
− Vacancy
−$5.7K −$2.89/SF
EGI
$82.5K $41.51/SF
− OpEx
−$24.7K −$12.45/SF
NOI
$57.7K $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%
$1,154,840
Cap Rate 7%
$824,886
Cap Rate 9%
$641,578
Alternative Uses
Best Use
Multifamily LT 5
$824.9K
$721.8K – $962.4K
NOI $57,742 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$772.6K
$676.0K – $901.3K
NOI $54,080 @ 7.0% cap · market cap 3.40%
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,481 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,036
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Separately metered residences offer private yards, indoor laundry, and convenient access to major regional routes.
Where is this duplex located?
The property is located at 3448 Page ST Redwood City, CA.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Two‑unit duplex with 993 SF per unit; Each unit includes 2 bedrooms and 1 bathroom; Attached 1‑car garage and private backyard for each unit
