160 N Claremont ST Pending Save Request In-Person Tour Request Virtual Tour
San Mateo,CA 94401
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 4,145 sqft
Price per Sqft $458
MLS Listing ID ML81990301
Bedrooms 7
Full Baths 4
Year Built 1900
Lot Size 5,980 Sqft
Property Description
5-Units for $1,900,000 Near Downtown San Mateo!! 5 Easy-To-Rent, Transit-Oriented Apartment Units (Near Downtown San Mateo / Walkscore: 92). Convenient Location: 8-Min. Walk to San Mateo Cal-Train Station & Downtown San Mateo. Strong Rental Location w/ Little to No Historical Vacancy. Supply-Constrained: Very Few Small/Midsized Apartments Nearby. Set Among Single Family Homes. Excellent Unit Mix: 3 BR/1 BA (1), 2 BR/1 BA (2), and 1 BR/1 BA (2) Plus Shared Yard. Potential to Increase Rents, Re-Tenant and Boost Rents and NOI. Capital Improvements: Dual-Pane Windows, Fence, Water Heaters, Coin-Op Washer & Dryers, 16-Camera Security Camera System, Exterior Painting, Updated Plumbing and Electrical, Drought-Resistant Landscaping. Proven, Consistent Income-Generator, Providing Strong Cashflow with Low Vacancies and Little Turnovers. Reasonably Low Operating Costs. Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 92, 280. Walkscore: 92 / Bike Score: 80. Current CAP Rate: 4.32% / Current GRM: 13.2. Pro-Forma CAP Rate: 5.05% / Pro-Forma GRM: 12. Building SF: 4,145 SF / Lot Size: 5,980 SF / Cost Per SF: $458/SF. Please Do Not Disturb Tenants. Thank you!
Location
State CA
County San Mateo
Area Eastern Addition/Downtown Area
Zoning RM0004
Interior
Heating Radiant Floors,Wall Furnace
Cooling None
Laundry Coin Operated
Exterior
Parking Features Attached Garage,Off-Street Parking
Garage Spaces 4.0
Community Features Other
Utilities Available Individual Electric Meters,Public Utilities
Roof Type Composition
Building
Foundation Wood Frame
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 032-304-230
Security Features Secured Garage / Parking,Security Lights,Video / Audio System
Special Listing Condition Not Applicable