Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1961
Sq.Footage
N/A
First Time on Market in 40 Years. Extremely Convenient, Central Location in Mid-Peninsula. Low Vacancy Rate & Strong Rents. Proven Performer With Solid Cashflow & Value Appreciation. Very Low Tenant Turnover Property. Low Management Responsibilities. Responsible Onsite Manager (37+ Year Tenure) Does All Leasing & All Management. Substantial Capital Improvements: New Dual Pane Windows, Seismic Retrofit for Tuck-Under Parking, Exterior Paint, Plumbing & More. Property Situated on Low-Traffic Street, Sufficient Street Offset From 101. Easy Access to Poplar Ave, El Camino Real, and Downtown San Mateo. Most Tenants on Month-to-Month Leases With Below Market Rents. Current Rents: 1 BR/1 BA - $1,950/Month, 2 BR/1 BA - $2,350/Month, Studio/1 BA - $1,500/Month All Units Offer Excellent Rental Upside. Current CAP Rate: 3.71% / Current GRM: 16. Pro-Forma CAP Rate: 4.81% / Pro-Forma GRM: 13.6. Building SF: 15,141 SF / Lot Size: 15,682 SF / Cost Per SF: $559/SF
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
0.36
-
Property Type
Commercial Sale
Exterior
-
Garage
No
Financial
-
Sales Price
$8,470,000
-
Tax Amount
114018.0
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Location
County
San Mateo
Elementary School
Other
Middle School
Other
High School
San Mateo
Listing Courtesy of Don Sung , Colliers Parrish International
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