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Listed by Colliers Parrish International, Inc.
$ 10,150,000
Est. payment | /mo
24,785 SqFt
$ 10,150,000
Est. payment | /mo
24,785 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 24,785 sqft
Price per Sqft $409
MLS Listing ID ML82032286
HOA Y/N No
Year Built 1965
Lot Size 0.532 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Achieve $57,000/Month in Stable Rental Income from a Diversified, 23-Tenant, High-End Apartment in an A+ Location. What a Great Way to Retire and Achieve Reliable Cashflow + Value Appreciation + Tax Advantages (Depreciation). Rarely Available 23-Unit Asset in Highly Desirable Carlmont Village. Iconic, One-of-a-Kind Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport w/ 9' Ceilings to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.12% / Pro-Forma CAP Rate: 5.02%. In-Place GRM: 14.6 / Pro-Forma GRM: 12.9. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF
Location
State CA
County San Mateo
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
"We would love to put our experience and successful track record to work for you. Top 1% in California" Kevin & Naomi Kieffer Compass Homes@EastBayPro.com or M. 925-300-8000"