24 Baytree Way - Apartments FOR SALE


San Mateo, CA 94402- Downtown San Mateo
$5,500,000 USD
408-483-5040
24 Baytree Way, San Mateo, CA for Sale
$5,500,000 USD
Apartments - FOR SALE
1/14
null | 3.46% Cap Rate

24 Baytree Way
San Mateo, CA 94402
Downtown San Mateo


HIGHLIGHTS

  • Prime San Mateo Location in El Cerrito Manor, Bordering the Hillsborough Heights Neighborhood
  • Rare Value-Add Opportunity to Curate Your Own Community Adjacent to Hillsborough Heights
  • Classic Mid-Century Charm with Oversized Floor Plans.
  • Strong, High-Income Tenant Base
  • Highly Walkable Location Near Downtown San Mateo

OVERVIEW

Contact Jimmy at jcastellanos@marcusmillichap.com for OM. Jimmy Castellanos of Marcus & Millichap is pleased to present 24 Baytree Way, a ten-unit multifamily community located in the highly sought-after El Cerrito Manor neighborhood of San Mateo. Built in 1950, the property sits adjacent to Hillsborough Heights, where the average home value exceeds $4,000,000. This rare investment opportunity allows an investor to curate a boutique residential community surrounded by well-established single-family homes. The unit mix features a combination of one- and two-bedroom floor plans, each notably larger than typical apartment homes constructed during the 1950's. The property also offers two vacant, rent-ready units, providing immediate access for tours and a seamless transition for new ownership.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$337 USD /SF

# OF UNITS

10

PRICE/UNIT

$550,000

CAP RATE

3.46%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,233 SF

ZONING

-

APN/PARCEL ID

032-412-210

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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