Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo County. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Originally constructed in 1960 and situated on a 24,944 sqft lot, the property features approximately 24,592 sqft of gross building area with 15,234 sqft of net rentable space across two buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports plus 4 uncovered parking spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in annual RUBS income upon implementation. With a current cap rate of 4.00% and GRM of 12.46, the asset is well-stabilized with strong in-place income of $758,340 annually. Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-bedrooms reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard. A FULLY COMPLIANT, INCOME-PRODUCING ASSET WITH A CLEAR RENT GROWTH POTENTIAL IN ONE OF THE BAY AREA'S STRONGEST MULTIFAMILY MARKETS.