$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
Year Built 1900
Lot Size 5,980 Sqft
Acres 0.14
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
Zoning RM00
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Coin Operated
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 032304230
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Bought with AliceXu