50 Dumbarton Ave Redwood City, CA 94063-3258

This exceptional 10-unit apartment building in Redwood City, CA presents a compelling investment opportunity. Boasting 10,903 square feet on a 7,700 square foot lot, this three-story, 1962-built property offers a desirable unit mix of eight two-bedroom/one-bathroom units and two studios. Recent capital expenditures include a new sewer line, dual-pane windows, a new central water heater, LVP flooring, granite countertops, and updated bathroom vanities and shower surrounds. The property features copper plumbing and enjoys a prime location near El Camino Real, providing convenient access to major highways and public transportation. Its proximity to Downtown Redwood City, Stanford University, and major tech employers like Facebook, Google, and Oracle ensures strong rental demand. The current NOI is $208,202, with a pro-forma NOI of $276,808, reflecting a 5.65% cap rate and a pro-forma cap rate of 7.51%. The asking price is $3,688,000, representing a price per square foot of $338.26 and a price per unit of $368,800. The land value is $479 per square foot. This turnkey investment offers strong current returns and significant upside potential with over 20% rent growth opportunity. The property's APN is 054-283-230. This meticulously maintained property, benefitting from over 30 years of dedicated ownership, presents a rare opportunity for investors seeking strong cash flow and appreciation in a highly desirable location.