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Listed by Don Sung • Colliers Parrish International, Inc.
$ 2,995,000
Est. payment | /mo
4,883 SqFt
$ 2,995,000
Est. payment | /mo
4,883 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,883 sqft
Price per Sqft $613
MLS Listing ID ML82022957
HOA Y/N No
Year Built 1952
Lot Size 6,154 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
A+ LOCATION! HUGE Upside w/ Spacious Units. Easy to Lease and Manage. Rarely Available. Walk to Broadway Shops and Cal-Train Station. Walk Score: 90, Bike Score: 81. 6-Units w/ Strong Historical Tenancy, Low Turnover and Little to No Vacancy. 6 Spacious 1 BR/1 BA Units w/ Desirable Floorplans. Low Operating Expense Ratio (30%). Tenants Pay In-Unit PG & E and Reimburse Owner for Water. Potential to Implement Full RUBS Program. Add Dishwashers and In-Unit Washer & Dryers, Conduct Minor In-Unit Upgrades to Achieve Higher Market Rent/Higher CAP Rate. First Time on Market in 13 Years. R-3 Zoning: Offers Medium/High Density Residential. Excellent Long-Term Development/Assemblage Potential. Front of Property Offers 3 Easy to Access, Uncovered Parking Spaces. Adjacent Properties (Chase Bank & USPS) Offer Temp. Overflow Parking for Visitors. Potential to Convert 6 Covered Carports to 2 ADU's (1 BR/1 BA Units w/ +/- 600 SF Each) on Ground Floor. 2 Additional Ground Floor ADU's Offer $600,000 ($5,000/Month). Cap. Ex. Include: Plumbing and Electrical, Dual-Pane Windows, New Roofs, New Water Heaters, and More. Strong Rents Driven by Convenient Location and Low-Supply. Consistently Strong Rental Demand. Proven Track-Record of Reliable Incoming Generation. Please DO NOT DISTURB TENANTS.
Location
State CA
County San Mateo
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
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Adam Shoop
Broker Associate at LPT Realty | Lic# 1782227