Bought with Michael Henshaw • Marcus & Millichap
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Key Details
Sold Price $4,415,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,600 sqft
Price per Sqft $580
MLS Listing ID ML81890846
Sold Date 08/12/22
Bedrooms 3
Full Baths 1
Year Built 1962
Lot Size 10,000 Sqft
Property Sub-Type Five or More Units
Property Description
BUY A PROVEN PERFORMER: TIRELESS CASH-COW - Low Vacancy, High Rental Demand, Consistent Rental Income 8 Townhouse-Style Apartment Home Units (All 3 BR / 1 BA on 2-Levels) Each Unit Offers Private Front Yard & Enclosed Garage Parking. Current Cap Rate: 4.66% / Pro-Forma Cap Rate: 5.2% Current GRM: 14.1 / Pro-Forma GRM: 13.1 Cost/SF: $592/SF Consistent Rental History with Low Tenant Turnover Excellent Unit Mix All 8 Units Offer Three (3) BR / One (1) BA Units Townhouse Style on 2-Levels Attractive Assumable Loan From Provident CU 3 of 8 Units Receive Partial Housing Assistance, Providing Steady Rent Collection Supply-Constrained Core Mid-Peninsula Submarket Ideal Housing (3 BR + Private Yard + Enclosed Garages) for Working Families Easy Access to Highway 101, Marsh Rd, Woodside Rd, El Camino Real Proven Performer With Solid Cashflow & Value Appreciation Building SF: 7,600 SF / Lot Size: 10,000 SF / Cost Per SF: $592/SF
Location
State CA
County San Mateo
Area Dumbarton Etc.
Zoning R-3
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Exterior
Parking Features Detached Garage, Enclosed, Off-Street Parking
Garage Spaces 8.0
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Composition
Building
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 055-031-230
Security Features Security Fence,Security Lights
Special Listing Condition Not Applicable
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