217 Alden Street is a fully occupied, five-unit multifamily investment offering immediate cash flow and a clear value-add path in one of the Peninsula's most supply-constrained rental markets. All five units are two-bedroom/one-bath, generating $178,620 in gross annual rent and $117,528 in NOI (4.70% cap rate) at the $2,500,000 asking price. Located just blocks from downtown Redwood City, the Caltrain station, and the Sequoia Station retail district, the property benefits from a highly walkable location and strong, durable tenant demand driven by nearby employers including Oracle, Electronic Arts, and Box, as well as Stanford in Redwood City. Current rents remain below market. With R-5 high-density zoning, a defensible in-place cash flow profile, and meaningful mark-to-market upside, 217 Alden Street offers investors a durable, income-producing hold in a constrained Mid-Peninsula housing market with a straightforward path to increased returns through unit turnover.