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Property profile & analytics
OFF-MARKET
Estimated value
$38,675,000
Apartment buildings
353 Main St Redwood City, CA 94063-9803
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3243420
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2023
Total area
196,812 SF
Lot
1.83 ac (79,611 SF)
Zoning code
CP0000
APN
052-383-370
UPID
US10-3243420
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Arbor Real Homeowners' Association
-
353 Main Street Family Apartment Building
-
353 Main Street | Family Apartments Apartment Building Apartment Complex
-
Cahill Park Homeowners' Association Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$43.86M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$38.68M
Owner & transaction history
353 Main Street Apartments LP · 7 yrs held
353 Main Street Apartments LP
since 2019
7 recorded transactions
Zoning & alternative use
CP0000 · Redwood City, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Redwood City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redwood City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$47,515,000
6.5%
$43,860,000
7%
$40,730,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$61,775,000
Current use
Blend value · Realmo final
$38.68M
Range $34.81M – $42.54M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$197 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$116
Tax year 2024
Assessed value
$83,511,006
Assessed 2024
Previous assessed
$83,511,006
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$19,138,806
Assessed improvement
$64,372,200
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2023
Heating
NONE
Units
125
Total area
196,812 SF
Lot
1.83 ac (79,611 SF)
Zoning code
CP0000
APN
052-383-370
UPID
US10-3243420
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CP0000 · Redwood City, CA
Zoning CP0000 · permitted uses
CP0000 · Redwood City, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Redwood City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$61.8M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2023
Heating
NONE
Units
125
Lot
1.83 ac
Current owner
From public records · entity-resolved
353 Main Street Apartments LP
Entity
Mailing address
1650 LAFAYETTE ST, SANTA CLARA, CA 95050-3915
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2024
—
353 Main Street Apartments LP
—
Deed
related
$53,247,500 · Citibank NA
Oct 15, 2021
—
353 Main Street Apartments LP
—
Deed
related
$3,500,000 · The City Of Redwood City
Oct 18, 2019
—
353 Main Street Apartments LP
—
Grant Deed
related
$53,247,500 · California Stwd Cmntys Dev Aut
Apr 1, 2019
$17,500,000
353 Main Street Apartments LP
Woodside Prof Ctr LLC
Grant Deed
$15,750,000 · Century Hsng
Feb 18, 2003
$2,950,000
Woodside Professional Center L
Ventura,tr
Grant Deed
$1,575,000 · Citibank West Fsb
Aug 5, 1996
$1,750,000
Ventura Trust
First Creekside Associates
Grant Deed
$1,150,000 · Borel Bank & Trust
—
—
353 Main Street Apartments LP
—
Deed Of Trust
related
$57,896 · County Of San Mateo Dept/hsng
—
—
353 Main Street Apartments LP
—
Deed Of Trust
related
$3,500,000 · Housing Endowment & Reg'l Tr/s
—
—
Woodside Professional Center L
—
Deed Of Trust
related
$1,297,000 · Mortgage Capital Dev Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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