2451 Middlefield Rd 18 Unit Apartment Building $6,650,000 ($369,444/Unit) 3.34% Cap Rate Redwood City, CA 94063

Positioned in the heart of the Peninsula, 2451 Middlefield Rd, Redwood City, CA presents a rare opportunity to acquire an 18-unit multifamily investment property in one of Silicon Valley's most desirable rental markets. Priced at $6,650,000 with a projected CAP rate of over 3.7%, this asset offers stable in-place income with meaningful value-add potential.
Located within a federally designated Opportunity Zone, the property may provide attractive tax benefits for Qualified Opportunity Fund investors. Additional upside exists through unit renovations, operational improvements, and potential accelerated depreciation strategies, supporting long-term appreciation and enhanced returns. Buyers are advised to independently verify Opportunity Zone eligibility and consult with their legal and tax/accounting advisors regarding qualification requirements and the potential benefits applicable to their specific circumstances.
The property features a well-balanced unit mix of ten (10) one-bedroom/one-bath units and eight (8) studio units, complemented by eighteen (18) on-site parking spaces—a rare and highly desirable amenity in this market. Many of the units have been upgraded with modern kitchens and bathrooms, providing an attractive living environment for tenants.
Ideally situated directly across from Costco Wholesale and just minutes from downtown Redwood City, the property enjoys excellent access to shopping, dining, and entertainment. Convenient proximity to Highway 101, El Camino Real, and Caltrain provides seamless connectivity to major employment centers including Palo Alto, Menlo Park, and San Francisco, making 2451 Middlefield Rd an exceptional investment opportunity with both current cash flow and long-term growth potential.