Investment Overview

Marcus & Millichap is excited to present 517 Vera Ave, a boutique 6-unit multifamily community in Redwood City, one of the Bay Area’s most dynamic submarkets. Constructed in 1964, the property comprises three one-bedroom/one-bath units and three two-bedroom/one-bath units, totaling approximately 6,249 rentable square feet on a 6,980 square foot parcel, per county assessor. With a projected 2025 population of roughly 80,500, Redwood City has emerged as one of the Peninsula’s most dynamic growth markets. Its expansion is fueled by innovation spilling over from San Francisco, combined with the rapid rise of AI and advanced technology sectors. The city hosts leading employers such as Oracle, Electronic Arts, Box, Informatica, and Google’s Pacific Shores campus, alongside a growing ecosystem of high-growth companies including Skydio, C3 AI, and Course Hero. Backed by progressive, pro-density policies, Redwood City continues to attract investment and talent, reinforcing the long-term strength of multifamily assets like Vera Ave. Five of the six apartment homes have been meticulously renovated, blending modern design with functional layouts and luxury-inspired finishes. Current average rents of $2,810 per month provide durable in-place income with a projected 10% rental upside. Two ground-floor units feature private patios or expansive backyards, while four upper-level units enjoy spacious balconies, enhancing tenant appeal. The property is within walking distance of Caltrain, offering unmatched regional access for Peninsula commuters.