50 Dumbarton Ave
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50 Dumbarton Ave
10 Unit Apartment Building $3,688,000 ($368,800/Unit) 5.67% Cap Rate Redwood City, CA 94063
Investment Highlights
- Exceptional investment opportunity located in Redwood City, with strong current income and potential 20% rent upside
- Desirable unit mix: 8 two-bedroom/one-bathroom units and 2 studios
- Prime location near El Camino Real, Downtown Redwood City, and Stanford University
- Pride-of-ownership asset with over 30 years of dedicated ownership
- Recent capital expenditures including a new sewer line, water line, copper piping, LVP floors, granite countertops, and more
- Close proximity to major tech employers including Facebook, Google, and Oracle
Executive Summary
We are pleased to present the opportunity to acquire 50 Dumbarton Ave, a meticulously maintained property with 10 units. This property has benefited from over 30 years of dedicated ownership, ensuring its excellent condition.
Built in 1962, the building spans 10,903 square feet per county record on a 7,700 square foot corner parcel. The unit mix includes 8 two-bedroom/one-bathroom units and 2 studios, offering a versatile living arrangement. The building has copper plumbing and recent capital improvements include a new sewer line, dual pane windows and a new central water heater. Interior upgrades include LVP floors, granite countertops, bathroom vanities and shower surrounds. The property has strong cash flow with 20%+ upside in rents.
The property is ideally located close to El Camino Real, providing easy access to transportation and major highways. It is conveniently near Downtown Redwood City, Elco Yards, Downtown Menlo Park, Stanford Shopping Mall, and Stanford University. Additionally, it is in proximity to major corporate headquarters such as Facebook, Google, and Oracle, among many others.
Built in 1962, the building spans 10,903 square feet per county record on a 7,700 square foot corner parcel. The unit mix includes 8 two-bedroom/one-bathroom units and 2 studios, offering a versatile living arrangement. The building has copper plumbing and recent capital improvements include a new sewer line, dual pane windows and a new central water heater. Interior upgrades include LVP floors, granite countertops, bathroom vanities and shower surrounds. The property has strong cash flow with 20%+ upside in rents.
The property is ideally located close to El Camino Real, providing easy access to transportation and major highways. It is conveniently near Downtown Redwood City, Elco Yards, Downtown Menlo Park, Stanford Shopping Mall, and Stanford University. Additionally, it is in proximity to major corporate headquarters such as Facebook, Google, and Oracle, among many others.
Financial Summary (Actual - 2023) 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 - 2023) 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 | $3,688,000 | Apartment Style | Low Rise |
| Price Per Unit | $368,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.67% | Building Size | 7,400 SF |
| Gross Rent Multiplier | 11.9 | Average Occupancy | 96% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment |
| Price | $3,688,000 |
| Price Per Unit | $368,800 |
| Sale Type | Investment |
| Cap Rate | 5.67% |
| Gross Rent Multiplier | 11.9 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,400 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1963 |
Unit Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $3,048 | 800 |
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Walk Score ®
Very Walkable (85)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 054-283-230 | Total Assessment | $1,281,550 |
| Land Assessment | $382,416 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $899,134 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
054-283-230
Land Assessment
$382,416
Improvements Assessment
$899,134
Total Assessment
$1,281,550
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R-3/S-5, San Mateo |
| R-3/S-5, San Mateo |
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50 Dumbarton Ave
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