432 Richmond Dr - Apartments FOR SALE


Millbrae, CA 94030
$2,800,000 USD
415-786-9410
432 Richmond Dr, Millbrae, CA for Sale
$2,800,000 USD
Apartments - FOR SALE
1/31
null | 2.83% 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, 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. --- The seller has already contracted and scheduled with a local plumbing company to have the Sewer Lateral Line Replaced and compliant. 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

$2,800,000 USD

PRICE/SF

$438 USD /SF

# OF UNITS

6

PRICE/UNIT

$466,667

CAP RATE

2.83%

% LEASED

100%

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

3

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 Policy.