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$ 10,150,000
Est. payment | /mo
0.53 Acres Lot
$ 10,150,000
Est. payment | /mo
0.53 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82015448
HOA Y/N No
Year Built 1965
Annual Tax Amount $148,173
Lot Size 0.532 Acres
Property Description
Rarely Available 23-Unit Asset in Highly Desirable Carlmont Village. Iconic, One-of-a-Kind Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport w/ 9' Ceilings to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.11% / Pro-Forma CAP Rate: 5.0%. In-Place GRM: 15 / Pro-Forma GRM: 13.3. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R40000
Interior
Heating Electric
Cooling None
Fireplace No
Exterior
Carport Spaces 37
Roof Type Other
Building
Water Public
Schools
High Schools Carlmont
School District Other
Others
Tax ID 045022230
Special Listing Condition Standard
Listed by Don Sung Colliers Parrish International, Inc.
22502 Avenida Empresa, Rancho Santa Margarita, California, 92688, USA
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