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
- Offering Memorandum
- Market Information
- Operating and Financials
- Title and Insurance
- Investigations
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 | - | - |
1 of 1
Walk Score®
Walker's Paradise (96)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 028-302-010 | Improvements Assessment | $776,281 |
| Land Assessment | $194,048 | Total Assessment | $970,329 |
CONTACT
-
Evan Godfrey - Kenny Realty
