315 Grand Boulevard, San Mateo, CA, CA 94401
- $1,950,000
- 2,410
- SqFt
- List Price
- $1,950,000
- Status
- ACTIVE
- MLS#
- ML82014445
- County
- San Mateo
- Year Built
- 1927
- Building Square Feet
- 2,410
- Square Feet
- 7,591
- Days on Market
- 382
- Property Type
- Multifamily
- Style
- Tudor
- Virtual Tour 1
- https://youtu.be/RKlpCoAzMcI
Property Description
Rare turnkey tutor style fourplex situated on a large 7,591 SqFt lot in one of the Bay Area's most coveted submarkets. Opportunity for owner-occupancy with up to 80% LTV conventional financing. Low cost alternative to a single family home. Three studio units and one 2-bed/1-bath unit. Two vacant fully remodeled units - a rear cottage studio and a 2-Bed/1-Bath flat - both with in-unit laundry. Substantial capital improvements completed including new electrical wiring and sub-panels, copper plumbing throughout, roof (2017), fencing, asphalt and concrete, and three units completely remodeled with high-end finishes. Two studios are rented, one of which is fully remodeled. An ADU consultancy's pre-feasibility study indicates that up to 5 ADU units can be added which would drive substantial income and appreciation. There are 2 private 1-car garages and 5 uncovered parking spaces. Monthly rent: $9,965 (scheduled), $10,885 (proforma). The strong rent growth, shortage of housing units, proximity to large Silicon Valley employers, and ADU potential make 315 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor. Offering memorandum, disclosures, walkthrough video, and Matterport tours available.
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Additional Information
- Taxes
- $22,504
- Parcel Number
- 032161110
- Gross Scheduled Income
- $119,580
- Number of Buildings
- 1
- Appliances
- Dishwasher, Electric Cooktop, Electric Oven, Freezer, Disposal, Microwave, Refrigerator, Vented Exhaust Fan
- Cooling
- Yes
- Roof
- Composition, Shingle
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- School District
- Other
- Elementary School
- Other
- Middle School
- Other
- High School
- San Mateo
Listing courtesy of Listing Agent: Ismael Benhamida (ismael@benhamidagroup.com) from Listing Office: Compass.
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