710 Laurel Ave - Apartments FOR SALE


San Mateo, CA 94401- Downtown San Mateo
$14,950,000 USD
650-222-8626
710 Laurel Ave, San Mateo, CA for Sale
$14,950,000 USD
Apartments - FOR SALE
1/24
null | 3.8% Cap Rate

710 Laurel Ave
San Mateo, CA 94401
Downtown San Mateo


HIGHLIGHTS

  • 97 Walk score, sharing a property border with Central Park, Downtown San Mateo
  • Seismically retrofitted, dual pane windows throughout
  • Heated Pool Area with Sauna (out of order)
  • Covered parking + storage included with each unit
  • Secure package system and keyless entry
  • 10G Fiber optic Sonic internet available in each unit

OVERVIEW

Trophy A+ location in Downtown San Mateo bordering Central Park, with a walk score of 97, 2 miles from Burlingame Avenue and a 10 minute drive from SFO Airport Demonstrated potential for increased revenue: Proforma rents are proven in existing rent roll The building has undergone seismic retrofitting to decrease the PML in the event of an earthquake. In addition to the seismic retrofitting, the property features a heated central pool, providing tenants an amenity to enjoy year-round and sets this property apart from others in the area. The property consists of 26 units, with 69% (18/26) fully renovated including in-unit washer-dryers to provide modern and updated living spaces. These renovated units offer contemporary finishes, such as full size stainless steel appliances, new flooring, and updated bathrooms, making them highly desirable for renters. The remaining units provide a new owner the opportunity to renovate and increase revenue

FOR SALE DETAILS

PRICE

$14,950,000 USD

PRICE/SF

$519 USD /SF

# OF UNITS

26

PRICE/UNIT

$575,000

CAP RATE

3.8%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Laurel Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

R6-D

APN/PARCEL ID

034-200-060

ASK ABOUT THIS PROPERTY

Michael AnthonyMNM Partners, LLCMore Info
650-222-8626

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Michael AnthonyMNM Partners, LLCMore Info
650-222-8626

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