Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1966
Sq.Footage
N/A
265-273 88th Street is a rare eighty (80) unit multifamily portfolio comprising five (5) extremely well-maintained apartment buildings situated on two parcels in the heart of the highly desirable Broadmoor Neighborhood of Daly City. - Offered at $26M, this stabilized asset features a unit mix of (6) 3-Br/2-Ba, (6) 2-Br/2-Ba, (4) 2-Br/1-Ba, (62) 1-Br/1-Ba, and (2) Studio units, totaling over 91,000± square feet of gross building area. With a favorable price-per-unit of $325,000 and a price-per-square-foot of $283, this opportunity has strong in-place cash flow (5.23% current cap rate & 11.33 current GRM) -- 265 88th St (4-units), 273 88th St (20-units), 1145 Edgeworth (18-units), 1157 Edgeworth (18-units), 374 89th St (20-units). SIGNIFICANT CAPITAL IMPROVEMENTS have been completed, including voluntary seismic upgrade, updated windows across all buildings, upgraded main electrical panels (25'), deck re-coating and rail painting (25'), updated water heaters, bird proofing, and extensive interior unit updates, with most units having been updated in the past 5-7 years. All units are individually metered for gas and electric, and twelve (12) units offer central forced-air heating.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
None
-
Heating YN
YES
-
Heating
Central, Wall Furnace
Exterior
-
Garage
No
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.9757
-
Property Type
Commercial Sale
Price
-
Sales Price
$26,000,000
-
Tax Amount
298844.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Jefferson
-
Middle School
Other
-
High School
Other
Property Features
-
Water Source
Public
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Location
County
San Mateo
Elementary School
Jefferson
Middle School
Other
High School
Other
Listing Courtesy of Nate Gustavson , Compass
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