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736 Cedar St 8 Unit Apartment Building $2,595,000 ($324,375/Unit) 5.22% Cap Rate Redwood City, CA 94063
Investment Highlights
- Attractive Unit Mix (4 two-bedroom units / 4 one-bedroom units)
- Square D Main Main Panel, and 125-amp Subpanels Serving the Units
- Ample On-Site Parking (10 spaces)
- Recent Capital Improvements (2025 TPO Roof)
- Expansive Approximately 10,000 SF Double-Wide Lot
- Potential ADU Development Opportunity
Executive Summary
736 Cedar Street offers a rare opportunity to acquire a well-located multifamily asset in the heart of the Peninsula. The well-maintained apartment building consists of eight (8) units, including four (4) two-bedroom, one-bathroom units and four (4) one-bedroom, one-bathroom units, providing an attractive unit mix for a broad tenant base.
The property also features a newly completed 2025 Thermoplastic Polyolefin (TPO) roof, upgraded Square D main electrical service infrastructure, and 125-amp subpanels serving the units, helping minimize near-term capital expenditures and enhance long-term operational reliability.
The property includes ten (10) on-site parking spaces, a dedicated laundry room with washer and dryer hookups, and three (3) large storage sheds currently utilized by tenants for additional storage space and convenience.
Situated on an expansive double-wide approximately 10,000-square-foot lot, the property offers investors a unique opportunity to potentially add ADUs, creating additional longterm income potential and further enhancing overall property value in one of the Peninsula’s most supply-constrained rental markets.
The property also features a newly completed 2025 Thermoplastic Polyolefin (TPO) roof, upgraded Square D main electrical service infrastructure, and 125-amp subpanels serving the units, helping minimize near-term capital expenditures and enhance long-term operational reliability.
The property includes ten (10) on-site parking spaces, a dedicated laundry room with washer and dryer hookups, and three (3) large storage sheds currently utilized by tenants for additional storage space and convenience.
Situated on an expansive double-wide approximately 10,000-square-foot lot, the property offers investors a unique opportunity to potentially add ADUs, creating additional longterm income potential and further enhancing overall property value in one of the Peninsula’s most supply-constrained rental markets.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $324,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 5.22% | Building Size | 5,310 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.53 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1946 |
| Property Type | Multifamily | Parking Ratio | 1.32/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,595,000 |
| Price Per Unit | $324,375 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.53 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 5,310 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1946 |
| Parking Ratio | 1.32/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 053-244-070 | Total Assessment | $1,004,884 |
| Land Assessment | $296,668 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $708,216 | Tax Year | 2025 |
Property Taxes
Parcel Number
053-244-070
Land Assessment
$296,668
Improvements Assessment
$708,216
Total Assessment
$1,004,884
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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736 Cedar St
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