238 Poplar Ave Redwood City, CA 94061-3099

Property Details for 238 Poplar Ave

Lot size

0.13 lot acres

Zone code

R40000

Property type

Apartment buildings

APN

053-282-380

APU

53282380

Description

This exceptional value-add multifamily investment opportunity in Redwood City, CA, presents seven spacious two-bedroom, two-bathroom units, each averaging approximately 1,000 square feet. The property boasts a total of 7,000 square feet of net rentable space across four buildings on a 0.39-acre lot, zoned R4. Built in 1979, the property currently enjoys an 85% occupancy rate, generating a Net Operating Income (NOI) of $152,968 and a 4.03% cap rate. The asking price is $3,800,000, translating to $542,857 per unit and $542.86 per square foot. Ample parking is provided with two spaces per unit (14 total spaces). The property's prime location near major tech employers in Silicon Valley, coupled with Redwood City's thriving economy and proximity to downtown amenities, ensures strong rental demand and potential for future appreciation. The land value alone is estimated at $223 per square foot. This property offers a compelling combination of immediate cash flow and long-term growth potential in a highly desirable location. APN numbers are 053-282-390, 053-282-380, and 053-282-370. There is no ground lease.