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Multifamily

Township Luxury Apartments

Redwood City, CA

132 Units

Built in 2014

Core Plus

Investment Highlights

  • Impressive and Growing Local Employment Base: World-renowned employers located in Redwood City include Google, Oracle, Box, Kaiser Permanente, Electronic Arts, Shutterfly, Rocket Fuel, Sony Computer Interactive America, Gilead Sciences, and Life Technologies. Because of its highly desirable location and demographics, Redwood City and the surrounding mid-peninsula corridor are in the midst of an on-going commercial renaissance.
  • Robust Market Fundamentals: Redwood City is a key driver for San Mateo County, with an average household income of $145,746 and average home price of $1,518,000. As a result, Redwood City residents face a monthly rent-versus-own affordability gap of $6,244 (222.6 percent), resulting in outpaced demand for rental housing.
  • Upside from Incremental Improvements: A future owner has the opportunity to implement improvements to common area amenities, interior finishes, and operations that could yield considerable upside in net operating income.
  • Boutique Design and Luxury Finish Levels: Completed in 2014, Township offers an intimate, resort-style setting featuring attractive and inviting communal gathering spaces. Interiors are equipped with luxury finishes including quartz countertops, undermount sinks, stainless steel appliances, vinyl plank flooring, and flat-faced modern cabinetry.

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