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Listed by Edward Tseng, DRE #02013904 • Keller Williams Thrive
$ 2,288,888
Est. payment | /mo
4,410 SqFt
$ 2,288,888
Est. payment | /mo
4,410 SqFt
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,410 sqft
Price per Sqft $519
MLS Listing ID ML82049968
Year Built 1952
Lot Size 5,244 Sqft
Property Sub-Type Five or More Units
Source MLSListings, Inc.
Property Description
Rare 6-unit multifamily investment opportunity in the heart of Millbrae. This well-maintained property features six oversized studio units, each approximately 700-750 SF, offering spacious floor plans rarely found in todays rental market. Fully occupied with strong in-place income, the property generates approximately $147,000 in annual gross rental income and nearly $90,000 in annual NOI, providing an attractive current cap rate of approximately 3.9%. Ideally located along El Camino Real, the property offers convenient access to BART, Caltrain, SFO, Highways 101 and 280, shopping, dining, and major Peninsula employment centers. Tenants pay their own PG&E, helping maintain low operating expenses and stable cash flow. One unit is currently rented below market value, presenting future upside potential through rental optimization. A desirable investment for multifamily investors and 1031 exchange buyers seeking stable income, long-term appreciation, and value-add potential in one of the Peninsulas most sought-after rental markets. Excellent commuter location with strong rental demand and limited multifamily inventory. Dont miss this rare opportunity to acquire a turnkey income-producing asset in a prime Millbrae location.
Location
State CA
County San Mateo
Area Marino Vista Park
Zoning unknown
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Carport , On Street, Private / Exclusive
Utilities Available Public Utilities
Roof Type Shingle
Building
Foundation Crawl Space
Sewer Sewer - Public
Water Public
Others
Tax ID 021-311-170
Special Listing Condition Not Applicable
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