1365 Broadway
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1365 Broadway
12 Unit Apartment Building $5,180,000 ($431,667/Unit) 4.17% Cap Rate Millbrae, CA 94030
Investment Highlights
- Large & Spacious Units
- Assigned Carport Parking for All Units
- All Units have a Private Patio or Deck
Executive Summary
PRICE REDUCTION OF $500,000!
Nate Gustavson & Cameron Foster of Compass Commercial are pleased to announce the exclusive listing of a 12-unit apartment complex located in one of the most sought after cities on the entire Peninsula, Millbrae, California. Situation on an 11,938 square foot lot "The Continental Apartments" give way to twelve (12) spacious apartments with 11,969 square feet of livable space. The Continental Apartments have a unit mix consisting of two (2) two-bedroom/one-bath units and ten (10) one-bedroom/one-bath units both with large spacious interiors of +/-947 sqft, and +/-710 sqft, respectively. The property consists of two separate identical buildings separated by a courtyard, and each unit has either a large private outdoor deck, or fenced-in outdoor patio. Each building has six (6) tuck under carport parking spots with large tenant storage closets, and two laundry facilities with one (1) washer and one (1) dryer each. Millbrae is known for its excellent school district, nice weather and Central Peninsula location. Ideally located near Safeway, Trader Joe’s, Broadway’s Restaurant Row and the San Francisco International Airport.
Nate Gustavson & Cameron Foster of Compass Commercial are pleased to announce the exclusive listing of a 12-unit apartment complex located in one of the most sought after cities on the entire Peninsula, Millbrae, California. Situation on an 11,938 square foot lot "The Continental Apartments" give way to twelve (12) spacious apartments with 11,969 square feet of livable space. The Continental Apartments have a unit mix consisting of two (2) two-bedroom/one-bath units and ten (10) one-bedroom/one-bath units both with large spacious interiors of +/-947 sqft, and +/-710 sqft, respectively. The property consists of two separate identical buildings separated by a courtyard, and each unit has either a large private outdoor deck, or fenced-in outdoor patio. Each building has six (6) tuck under carport parking spots with large tenant storage closets, and two laundry facilities with one (1) washer and one (1) dryer each. Millbrae is known for its excellent school district, nice weather and Central Peninsula location. Ideally located near Safeway, Trader Joe’s, Broadway’s Restaurant Row and the San Francisco International Airport.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,180,000 | Apartment Style | Low Rise |
| Price Per Unit | $431,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 4.17% | Building Size | 11,968 SF |
| Gross Rent Multiplier | 15.38 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Price | $5,180,000 |
| Price Per Unit | $431,667 |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| Gross Rent Multiplier | 15.38 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 11,968 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1/1,000 SF |
Unit Amenities
- Balcony
- Granite Countertops
- Refrigerator
- Oven
- Deck
- Patio
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,663 | 947 |
| 1+1 | 10 | $2,273 | 710 |
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Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 021-276-350 | Total Assessment | $500,385 |
| Land Assessment | $137,208 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $363,177 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
021-276-350
Land Assessment
$137,208
Improvements Assessment
$363,177
Total Assessment
$500,385
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R4 (Multifamily Residential. R4.) |
| R4 (Multifamily Residential. R4.) |
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1365 Broadway
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