55 N El Camino Real
18 Unit Apartment Building $7,595,000 ($421,944/Unit) 2.89% Cap Rate San Mateo, CA 94401
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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
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$16.06
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Other Income |
$4,197
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$0.17
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Vacancy Loss |
-
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-
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Effective Gross Income |
$397,568
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$16.23
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Taxes |
-
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-
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Operating Expenses |
-
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-
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Total Expenses |
$165,358
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$6.75
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Net Operating Income |
$232,210
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$9.48
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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 |