Excellent Opportunity Reposition or Redevelop 2 Transit-Oriented Apartment Home Units (Walk to San Mateo Cal-Train Station / Walk Score: 97). 2 Existing 2 BR/1 ¼ Bath Townhouse Units To Be DELIVERED VACANT at COE. 4 Options to Add Value: (1) Build 14 Apartment Units Up to 6-Stories, 19,080 SF (FAR:… Read More 3.0 / R-5 Zoning); (2) Build 2 Single Family Homes; (3) Renovate Interior to (2) 3 BR/3 BA Townhomes w/ $6,500/Month Rental Potential; (4) Renovate Existing Interior Units as 2 BR/1 1/4 Bath. Each Unit Offers Spacious Private Yards. Front Yard (45 N. Ellsworth) / Rear Yard (47 N. Ellsworth). Very Easy-to-Rent Units & Desirable Rental Location. Very Low Operating Costs: All Utilities Paid by Tenants (Separate Meters & Services). Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 92, 280. Current CAP Rate: 3.54% / Current GRM: 17. Pro-Forma CAP Rate: 5.51% / Pro-Forma GRM: 12. Building SF: 3,290 SF / Lot Size: 6,360 SF / Cost Per SF: $593/SF. Due to Favorable Zoning, Property Offers Excellent Opportunity to Purchase for Immediate Cashflow at Market Rents. Buyers Have Option to Develop Into 14-Unit Apartments or 2 Single Family Homes Now or Down the Line. Co-Listed w/ Doug Marks. Read Less
Courtesy of Colliers Parrish International, Inc., Don Sung 650-380-5188
Listing Snapshot
Days Online
70
Last Updated
Property Type
Duplex
Square Ft.
3,290
Lot Size
0.15 Acres
Year Built
1936
MLS Number
ML82014040
30 Days Snapshot Of 94401
$966k
-36%
(avg) sold price
18
+50%
homes sold
96
+190%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 6360.00, Max Area Units: Square Feet
Unit One
2 bedrooms in unit 1, Unit 1: approximately 1,645 square feet, Unit 1 rent: $4,850
Unit Two
2 bedrooms in unit 2, Unit 2: approximately 1,645 square feet, Unit 2 rent: $4,850
Accessibility Features
Parking
Building
Built in 1936, 2 building units, 2 buildings, 3,290 structure square feet
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