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$1,999,000
Est. payment /mo
4,556 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,556 sqft
Price per Sqft $438
MLS Listing ID ML82060377
HOA Y/N No
Year Built 1926
Lot Size 7,500 Sqft
Property Sub-Type Other
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
Zoning RM00
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 032151050
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Listed by John Sayage • Compass
NEARBY SCHOOL & BUSINESS
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Eric & Janelle Boyenga
Realtors DRE01254724 / 01254725
Realtors DRE01254724 / 01254725