16 Bellevue Ave W - Apartments FOR SALE


San Mateo, CA 94401- San Mateo Park
$3,350,000 USD
650-274-5227
16 Bellevue Ave W, San Mateo, CA for Sale
$3,350,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

16 Bellevue Ave W
San Mateo, CA 94401
San Mateo Park


HIGHLIGHTS

  • Attractive Unit Mix: All 4 units are 2-bed, 1-bath, nearly 1k sf each
  • Extremely Easy to Rent: Updated turn-key units in a great location are attractive to quality tenants and rent up quickly on turnovers
  • Updated Property: Numerous recent repairs and capital improvements.
  • Excellent in-place rents: Stable low-management income from steady tenants with some room to increase rents further
  • Add an ADU: Convert the carport parking into an additional unit or two to increase value and cash fl ow!
  • Note: Some photos in this listing are virtually staged with AI

OVERVIEW

TRUE TROPHY FOURPLEX BORDERING HILLSBOROUGH!! The Hillsborough Apartments is an incredible opportunity to acquire a true pride of ownership property in one of the most sought after locations on the peninsula. With outstanding in-place rents, this trophy asset is a true turnkey apartment building perfect for investors, owner-occupiers, and generational family purchasers alike. Strategically positioned west of the El Camino Real, bordering the prestigious Hillsborough neighborhood, this property is a MUST SEE! Attractive Unit Mix: All four units are 2-bed, 1-bath, approximately 1,000 sf each. The property benefits from numerous recent upgrades and capital improvements. All 4 units updated with granite counters and subway tile wainscoting, crown molding, arched walkways, custom cherry cabinets, Restoration Hardware fixtures, Baldwin door knobs & deadbolts, and Leviton dimmer lights and electric plugs. New roof in 2021, new water heaters, new sewer lateral in 2019 & new sewer line and cleanout. New plumbing valves. Double-Paned windows throughout with custom plantation shutters. Energy Efficient Washer/ Dryer in each unit. Add an ADU by converting the garage parking into an additional unit or two to increase value and cash flow! OPEN HOUSE TOURS: Wednesday, July 29th from 11am - 1pm. Wednesday, August 5th from Noon - 1pm. Inspections being conducted on July 29th.

FOR SALE DETAILS

PRICE

$3,350,000 USD

PRICE/SF

$860 USD /SF

# OF UNITS

4

PRICE/UNIT

$837,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hillsborough Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,377 SF

ZONING

R-4, City/San Mateo

APN/PARCEL ID

032-071-050

ASK ABOUT THIS PROPERTY

Bryan DanforthCompass CommercialMore Info
650-274-5227

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Bryan DanforthCompass CommercialMore Info
650-274-5227

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.