55 N El Camino Real

18 Unit Apartment Building $7,595,000 ($421,944/Unit) 2.89% Cap Rate San Mateo, CA 94401

EXECUTIVE SUMMARY

Just reduced $400,000. This 18 unit 4 story apartment building has been privately owned by the same family for 49 years. The building features 15 one bedroom units, and 3 two bedroom, 2 bath units. Building also features a small pool, sundeck, underground parking, elevator, extra storage and a trash chute. One of the best locations in Burlingame, just a short walk to Burlingame Avenue shops and restaurants.

DATA ROOM Click Here to Access

FINANCIAL SUMMARY (ACTUAL - 2023)

ANNUAL ANNUAL PER SF
Gross Rental Income $393,371 $16.06
Other Income $4,197 $0.17
Vacancy Loss - -
Effective Gross Income $397,568 $16.23
Taxes - -
Operating Expenses - -
Total Expenses $165,358 $6.75
Net Operating Income $232,210 $9.48

PROPERTY FACTS

Price $7,595,000
Price Per Unit $421,944
Sale Type Investment
Cap Rate 2.89%
Gross Rent Multiplier 20.32
No. Units 18
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.26 AC
Building Size 24,489 SF
No. Stories 3
Year Built 1961
Parking Ratio 0.82/1,000 SF

UNIT AMENITIES

  • Heating
  • Kitchen
  • Range

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 15 - -
2+2 3 - -
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (78)

PROPERTY TAXES

  • Listing ID: 34160147

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 55 N El Camino Real, San Mateo, CA 94401