Eight-Unit Apartment
For Sale
$2,595,000
736 Cedar St, Redwood City, CA 94063
Multifamily property with upgraded electrical service, on-site parking, laundry hookups, and tenant storage sheds.
Property Size5,310 SF
Lot Size0.23 Acres
Days on Market77
Property Features for 736 Cedar St
General Information
Standard status
Active
Size
5,310 SF
Total Parking Spaces
10
Lot size
0.23 Acres
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
8
Amenities
laundry room
storage sheds
Building Details
Building Size
5,310 SF
Year Built
1946
Buildings
1
Units
8
Listing Agency:
Compass Commercial Real Estate
(415) 299-1124
Listed By:
Marshall Ward · License #01919391
(415) 299-1124
Source:
Elliman
Added: Jun 17
Changed: Aug 30
Last Checked: Aug 31 at 7:16PM
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 Compass Commercial Real Estate
Investment Insights
Based on property information with market context.
This multifamily property contains eight apartment units arranged as four two-bedroom, one-bathroom residences and four one-bedroom, one-bathroom residences. Building improvements include a 2025 TPO roof, upgraded Square D main electrical service, and 125-amp subpanels serving the individual units. The property also includes a dedicated laundry room with washer and dryer hookups, along with three large storage sheds used by tenants.
The 10,000-square-foot double-wide lot provides ten on-site parking spaces and is located at 736 Cedar Street in Redwood City, within the Peninsula. The property was built in 1946. The expansive site may offer potential for ADU additions, subject to applicable approvals and requirements.
The 10,000-square-foot double-wide lot provides ten on-site parking spaces and is located at 736 Cedar Street in Redwood City, within the Peninsula. The property was built in 1946. The expansive site may offer potential for ADU additions, subject to applicable approvals and requirements.
Key Highlights
- Eight units: four 2‑bedroom/1‑bath units and four 1‑bedroom/1‑bath units
- 2025 TPO roof
- Upgraded Square D main electrical service with 125‑amp subpanels
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
$144,523
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
5.57%
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%
$2,890,460
$2.9M
Cap Rate 7%
$2,064,614
$2.1M
Cap Rate 9%
$1,605,811
$1.6M
Market Conditions
NOI Build-Up for 5,310 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
$277.2K $52.20/SF
− Vacancy
−$14.4K −$2.71/SF
EGI
$262.8K $49.49/SF
− OpEx
−$118.2K −$22.27/SF
NOI
$144.5K $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%
$2,890,460
Cap Rate 7%
$2,064,614
Cap Rate 9%
$1,605,811
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.81M – $2.41M
NOI $144,523 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.22M
$3.69M – $4.92M
NOI $295,246 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,375
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 - Multifamily property with upgraded electrical service, on-site parking, laundry hookups, and tenant storage sheds.
Where is this apartment building located?
The property is located at 736 Cedar St Redwood City, CA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: Eight units: four 2‑bedroom/1‑bath units and four 1‑bedroom/1‑bath units; 2025 TPO roof; Upgraded Square D main electrical service with 125‑amp subpanels
