432 Richmond Dr - Apartments FOR SALE


Millbrae, CA 94030
$2,688,000 USD
415-786-9410
432 Richmond Dr, Millbrae, CA for Sale
$2,688,000 USD
Apartments - FOR SALE
1/31
null | 3.16% Cap Rate

432 Richmond Dr
Millbrae, CA 94030


HIGHLIGHTS

  • BRAND NEW (2025) LAYERED TORCH-DOWN ROOF
  • COIN-OPERATED LAUNDRY ROOM (2 Washers & 2 Dryers)
  • STORAGE IN CARPORTS
  • BEST PUBLIC SCHOOL SYSTEM IN SAN MATEO COUNTY
  • UPSIDE RENT POTENTIAL (~20%)

OVERVIEW

Nate Gustavson & Cameron Foster of Compass Commercial are pleased to present 432 Richmond Drive, a well-maintained 6-unit multifamily investment opportunity located in the heart of Millbrae. This rare offering features a desirable unit mix of four (4) spacious 2-Bedroom/1-Bath units and two (2) 1-Bedroom/1-Bath units, with a gross building area of approximately 6,390 square feet on a 6,944 square foot lot. The property benefits from a BRAND NEW ROOF installed in 2025, updated Sewer Lateral Line, separate gas & electric meters, carport parking with storage, and on-site laundry with two (2) coin-operated Washers & Dryers. Units are currently rented below market with significant upside potential, providing investors the opportunity to increase cash flow through strategic updates. Centrally located just blocks from Millbrae’s vibrant downtown, tenants enjoy close proximity to Safeway, Trader Joe’s, BART/Caltrain, top-rated San Mateo County schools like Mills and Capuchino High, and an array of shops and restaurants along Broadway. With easy access to SFO, Highway 101, and I-280, this asset offers both strong commuter appeal and long-term value. This is an ideal opportunity for investors seeking a stabilized asset in one of the Peninsula’s most sought-after rental markets.

FOR SALE DETAILS

PRICE

$2,688,000 USD

PRICE/SF

$421 USD /SF

# OF UNITS

6

PRICE/UNIT

$448,000

CAP RATE

3.16%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,001 SF

ZONING

Multifamily Residential

APN/PARCEL ID

021-432-150

ASK ABOUT THIS PROPERTY

Nate GustavsonCompass CommercialMore Info
415-786-9410

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Nate GustavsonCompass CommercialMore Info
415-786-9410

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