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128 Roosevelt Ave 10 Unit Apartment Building $3,100,000 ($310,000/Unit) 2.76% Cap Rate Redwood City, CA 94061
Investment Highlights
- Current rents average $1,277 per unit versus market rents of $2,750, providing significant value-add potential.
- Offered for the first time in approximately 54 years, presenting a rare value-add opportunity in a high-demand market.
- Walking distance to Downtown Redwood City's premier dining, shopping, and entertainment.
- Proximity to Oracle, Meta, Google, Apple, Stanford Health Care, and Box supports strong renter demand.
Executive Summary
Value-add opportunity in downtown Redwood City // LOW RENTS // BRING ALL OFFERS. Pleased to present 128 Roosevelt Avenue. Situated in the heart of Redwood City, 128 Roosevelt Avenue is a 10 unit apartment community offering a compelling value-add investment opportunity in one of the Peninsulas most supply-constrained rental markets. Built in 1951, the property consists of ten (10) one-bedroom/one-bathroom residences encompassing approximately 6,976 building square feet on a 9,967 square foot parcel (per county records). The property has been held under the same ownership for over 50 years. This represents a rare opportunity to acquire a premier-location multifamily asset at an attractive basis with significant upside potential.
Property Facts
| Price | $3,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $310,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 2.76% | Building Size | 12,572 SF |
| Gross Rent Multiplier | 20.22 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Property Subtype | Apartment | Parking Ratio | 1.03/1,000 SF |
| Zoning | R-4 | ||
| Price | $3,100,000 |
| Price Per Unit | $310,000 |
| Sale Type | Investment |
| Cap Rate | 2.76% |
| Gross Rent Multiplier | 20.22 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 12,572 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | R-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,278 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 053-094-120 | Improvements Assessment | $177,560 |
| Land Assessment | $62,468 | Total Assessment | $240,028 |
Property Taxes
Parcel Number
053-094-120
Land Assessment
$62,468
Improvements Assessment
$177,560
Total Assessment
$240,028
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128 Roosevelt Ave
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