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$ 1,999,000
Est. payment | /mo
7,501 Sqft Lot
$ 1,999,000
Est. payment | /mo
7,501 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82060377
HOA Y/N No
Year Built 1926
Annual Tax Amount $22,989
Lot Size 7,501 Sqft
Property Description
Excellent five-unit investment opportunity ideally located between Downtown San Mateo and Downtown Burlingame, offering convenient access to shopping, dining, Caltrain, major transportation routes, and Peninsula employment centers. The property features two one-bedroom units, one two-bedroom unit, and two studios, with current annual rents of approximately $122,580. Several units are rented below current market levels, creating significant long-term upside through future rent growth and thoughtful renovations. Renovated market rents are projected at approximately $181,800 annually, highlighting the property's compelling value-add potential. A rare opportunity to acquire a well-located Peninsula multifamily asset with strong in-place income, below-market rents, and meaningful future upside.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning RM0000
Interior
Heating Floor Furnace, Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 4
Total Parking Spaces 1
Building
Water Public
Schools
School District Other
Others
Tax ID 032151050
Special Listing Condition Standard
Listed by John Sayage Compass #02068974
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