PRICE REDUCTION - Garden Court | 1655 San Carlos Ave
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PRICE REDUCTION - Garden Court 1655 San Carlos Ave
10 Unit Apartment Building $4,190,000 ($419,000/Unit) 5.19% Cap Rate San Carlos, CA 94070
Investment Highlights
- The property is a 3-minute walk to downtown San Carlos with access to fine dining and shopping. It is a 4-minute walk to the San Carlos Caltrain Sati
- The mid-peninsula location makes for easy access to both Silicon Valley and San Francisco employment centers. It is located near various parks and wa
Executive Summary
Introducing Garden Court Apartments, a meticulously upgraded 10 unit complex located at 1655 San Carlos Avenue in sought after San Carlos, CA. Each unit offers one bedroom and one bathroom, providing comfortable living spaces for residents.
This meticulously maintained property presents an exceptional opportunity for investors seeking a turnkey investment in the thriving San Carlos rental market. Don't miss out on owning a piece of this prime real estate. Schedule a viewing today!
The property is a 3-minute walk to downtown San Carlos with access to fine dining and shopping. It is a 4-minute walk to the San Carlos Caltrain Station and a 5-minute drive to Highways 101 and 280. The mid-peninsula location makes for easy access to both Silicon Valley and San Francisco employment centers. It is located near various parks and walking/hiking/biking trails and is also a short drive to California’s scenic coastline.
This property boasts a rich history of upgrades and renovations, ensuring modern comfort and convenience. The extensive list of improvements includes:
Upgraded electrical system to 600 watts in 2013, ensuring reliable power distribution.
Garage electrical upgrade in 2012 for added safety.
Renovated kitchens with new cabinets, tile, and fixtures, providing a contemporary look and feel.
Fresh paint throughout all units adding fresh vibrancy.
Upgraded electrical outlets in kitchens and bathrooms, enhancing safety and functionality.
Replacement of all furnaces with thermostats for efficient temperature control.
Installation of double pane windows in all apartments, promoting energy efficiency and noise reduction.
Implementation of safety features such as smoke detectors and carbon monoxide detectors in each unit.
Interior garage walls painted and deck railings replaced to code in 1991.
Additional recent upgrades include a new roof in 2017. Installation of credit card/coin operated laundry facilities in 2019. Replacement of the hot
water heater in 2022, and an exterior repaint with brickwork pressure washing in 2023.
This meticulously maintained property presents an exceptional opportunity for investors seeking a turnkey investment in the thriving San Carlos rental market. Don't miss out on owning a piece of this prime real estate. Schedule a viewing today!
The property is a 3-minute walk to downtown San Carlos with access to fine dining and shopping. It is a 4-minute walk to the San Carlos Caltrain Station and a 5-minute drive to Highways 101 and 280. The mid-peninsula location makes for easy access to both Silicon Valley and San Francisco employment centers. It is located near various parks and walking/hiking/biking trails and is also a short drive to California’s scenic coastline.
This property boasts a rich history of upgrades and renovations, ensuring modern comfort and convenience. The extensive list of improvements includes:
Upgraded electrical system to 600 watts in 2013, ensuring reliable power distribution.
Garage electrical upgrade in 2012 for added safety.
Renovated kitchens with new cabinets, tile, and fixtures, providing a contemporary look and feel.
Fresh paint throughout all units adding fresh vibrancy.
Upgraded electrical outlets in kitchens and bathrooms, enhancing safety and functionality.
Replacement of all furnaces with thermostats for efficient temperature control.
Installation of double pane windows in all apartments, promoting energy efficiency and noise reduction.
Implementation of safety features such as smoke detectors and carbon monoxide detectors in each unit.
Interior garage walls painted and deck railings replaced to code in 1991.
Additional recent upgrades include a new roof in 2017. Installation of credit card/coin operated laundry facilities in 2019. Replacement of the hot
water heater in 2022, and an exterior repaint with brickwork pressure washing in 2023.
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 | $4,190,000 | Apartment Style | Garden |
| Price Per Unit | $419,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.19% | Building Size | 8,070 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 1.24/1,000 SF |
| Price | $4,190,000 |
| Price Per Unit | $419,000 |
| Sale Type | Investment |
| Cap Rate | 5.19% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,070 SF |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 1.24/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Kitchen
- Oven
- Dining Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $2,125 | - |
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Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 050-122-020 | Total Assessment | $320,704 |
| Land Assessment | $90,937 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $229,767 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
050-122-020
Land Assessment
$90,937
Improvements Assessment
$229,767
Total Assessment
$320,704
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | RM-2 (Multi-Family Dwelling) |
| RM-2 (Multi-Family Dwelling) |
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PRICE REDUCTION - Garden Court | 1655 San Carlos Ave
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