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$ 2,995,000
Est. payment | /mo
6,155 Sqft Lot
$ 2,995,000
Est. payment | /mo
6,155 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82022957
HOA Y/N No
Year Built 1952
Annual Tax Amount $34,017
Lot Size 6,155 Sqft
Property Description
First Time on Market in 13 Years. Rarely Available, A+ Location. Walk to Broadway Shops and Cal-Train Station. Walk Score: 90, Bike Score: 81. Easy to Lease & Manage. 6-Units w/ Strong Historical Tenancy, Low Turnover and Little to No Vacancy. 6 Spacious 1 BR/1 BA Units w/ Desirable Floorplans. Low Operating Expense Ratio (30%). Tenants Pay In-Unit PG & E and Reimburse Owner for Water. Potential to Implement Full RUBS Program. Potential to Add Dishwashers and In-Unit Washer & Dryers, Conduct Minor In-Unit Upgrades to Achieve Higher Market Rent and Higher CAP Rate. R-3 Zoning: Offers Medium/High Density Residential. Excellent Long-Term Development/Assemblage Potential. Front of Property Offers 3 Easy to Access, Uncovered Parking Spaces. Adjacent Properties (Chase Bank & USPS) Offer Temporary Overflow Parking for Visitors. Potential to Convert 6 Covered Carports to 2 ADU's (1 BR/1 BA Units w/ +/- 600 SF Each) on Ground Floor. 2 Additional Ground Floor ADU's Offer $600,000 ($5,000/Month). Cap. Ex. Include: Plumbing and Electrical, Dual-Pane Windows, New Roofs, New Water Heaters, and More. Strong Rents Driven by Convenient Location and Low-Supply Constraints. Consistently Strong Rental Demand. Proven Track-Record of Reliable Incoming Generation. Please DO NOT DISTURB TENANTS.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R-3 Medium/High Density R
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 6
Roof Type Other
Total Parking Spaces 3
Building
Water Public
Schools
School District Other
Others
Tax ID 026212230
Special Listing Condition Standard
Listed by Don Sung Colliers Parrish International, Inc.
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