For Sale
$4,190,000
1655 San Carlos Ave San Carlos, CA 94070
10-unit, turnkey investment opportunity.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 135
Highlights
- 10-unit apartment building in San Carlos, CA, offering a strong investment opportunity. The property is listed at $4,190,000, representing a $419,000 per unit price and $405.81 per square foot.
- The 10,325 square foot building sits on a 0.16-acre lot (APN: 050-122-020) and is zoned for Downtown High Density. Each unit features one bedroom and one bathroom.
- The property boasts a strong pro-forma NOI of $217,661, resulting in a 5.19% pro-forma cap rate.
- Extensive renovations include a new roof (2017), renovated kitchens and bathrooms, upgraded electrical systems (2012 & 2013), new furnaces and thermostats, double-pane windows, coin-operated laundry (2019), fresh paint, upgraded outlets, smoke/CO detectors, and exterior repainting with pressure washing (2023). Hot water heater replacement in 2022.
- Prime location: 3-minute walk to downtown San Carlos, 4-minute walk to Caltrain, easy access to Highways 101 and 280.
Property Details for 1655 San Carlos Ave
- Property type
- Apartment buildings
- Square Feet
- 10,325 SF
- Class
- B
- Year Built
- 1948
- Stories
- 3
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 10
Location Insight
- City
- San Carlos
- County
- San Mateo
- State
- California
- Latitude
- 37.5030249
- Longitude
- -122.2652898
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 10-unit, turnkey investment opportunity.
- Where is the apartment building located?
- The property is located at 1655 San Carlos Ave San Carlos, CA.
- What is the asking price?
- The asking price for this property is $4,190,000.
- What are key features of this property?
- This property features: 10-unit apartment building in San Carlos, CA, offering a strong investment opportunity. The property is listed at $4,190,000, representing a $419,000 per unit price and $405.81 per square foot.; The 10,325 square foot building sits on a 0.16-acre lot (APN: 050-122-020) and is zoned for Downtown High Density. Each unit features one bedroom and one bathroom.; The property boasts a strong pro-forma NOI of $217,661, resulting in a 5.19% pro-forma cap rate.
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