64
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$1,900,000
Est. payment /mo
5,980 Sqft Lot
Pending
160 N Claremont ST San Mateo, CA 94401
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UPDATED:
01/30/2025 01:40 AM
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID ML81990301
HOA Y/N No
Year Built 1900
Annual Tax Amount $28,857
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 699 - Not Defined
Zoning RM0004
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Composition
Building
Water Public
Schools
School District Other
Others
Tax ID 032304230
Security Features Security Lights
Special Listing Condition Standard
Listed by Don Sung • Colliers Parrish International