Bought with Alice Xu • KW Advisors
$1,888,888
$1,900,000
0.6%For more information regarding the value of a property, please contact us for a free consultation.
4,145 SqFt
SOLD DATE : 02/11/2025
Key Details
Sold Price $1,888,888
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,145 sqft
Price per Sqft $455
MLS Listing ID ML81990301
Sold Date 02/11/25
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1900
Lot Size 5,980 Sqft
Property Sub-Type Other
Property Description
5-Units for $1,900,000 Near Downtown San Mateo!! 5 Easy-To-Rent, Transit-Oriented Apartment Units (Near Downtown San Mateo / Walkscore: 92). Convenient Location: 8-Min. Walk to San Mateo Cal-Train Station & Downtown San Mateo. Strong Rental Location w/ Little to No Historical Vacancy. Supply-Constrained: Very Few Small/Midsized Apartments Nearby. Set Among Single Family Homes. Excellent Unit Mix: 3 BR/1 BA (1), 2 BR/1 BA (2), and 1 BR/1 BA (2) Plus Shared Yard. Potential to Increase Rents, Re-Tenant and Boost Rents and NOI. Capital Improvements: Dual-Pane Windows, Fence, Water Heaters, Coin-Op Washer & Dryers, 16-Camera Security Camera System, Exterior Painting, Updated Plumbing and Electrical, Drought-Resistant Landscaping. Proven, Consistent Income-Generator, Providing Strong Cashflow with Low Vacancies and Little Turnovers. Reasonably Low Operating Costs. Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 92, 280. Walkscore: 92 / Bike Score: 80. Current CAP Rate: 4.32% / Current GRM: 13.2. Pro-Forma CAP Rate: 5.05% / Pro-Forma GRM: 12. Building SF: 4,145 SF / Lot Size: 5,980 SF / Cost Per SF: $458/SF. Please Do Not Disturb Tenants. Thank you!
Location
State CA
County San Mateo
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Coin Operated
Building
Water Public
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