160 N Claremont Street
San Mateo, CA 94401
0.14 acres | #ML81990301
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!
Property Details
- Date ClosedFebruary 14, 2025
- Property SubtypeCommercialSale
- Original List Price$1,900,000
- MLS #ML81990301
- MLS #ML81990301
- CountySan Mateo
- Property TypePurchase
- Taxes Annual$28,857
- Cost1900000
- Acres0.1373
- Utility SourcePublic
- School DistrictOther
- Year Built1900
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Don Sung (#ML5063405)
Listing Office: Colliers Parrish International (#ML34668)
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