$4,800,000
$5,198,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
0.25 Acres Lot
SOLD DATE : 04/05/2023
Key Details
Sold Price $4,800,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81916748
Sold Date 04/05/23
HOA Y/N No
Year Built 1985
Annual Tax Amount $63,545
Lot Size 0.253 Acres
Property Description
Completely renovated 11-unit apartment building offers the seasoned investor an opportunity to create the perfect tenancy in a low-maintenance newly renovated property. The building is offered vacant & ready for occupancy. Due to a 2020 electrical fire, the building was completely renovated, and most exterior & interior building components have been replaced including a new roof, stucco exterior, sheetrock, sprinklers, windows & doors, electrical systems, unit heaters, hot water heater & plumbing throughout. Lower walkways have fresh cement, upper walkways were refinished and sealed with waterproof coatings. The driveway has a fresh slurry seal, and the parking area has been re-striped. The apartments are all 2-Bedroom, 1 Bath units, ±850sf each and situated on an ±11,031sf, parcel zoned R-3. The building offers 11 carports + 6 guest parking spaces, an on-site laundry room & 12 storage closets. MLS income/expenses are estimated based on Nov 2022 appraisal.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R30000
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Carport Spaces 11
Roof Type Other
Total Parking Spaces 6
Building
Lot Description Level, Paved
Water Public
Schools
School District Other
Others
Tax ID 021311280
Financing Other
Special Listing Condition Standard
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Bought with Paul Beaudreau • KW Advisors