Homes for sale - 2830 Flores ST, San Mateo, CA 94403

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JLee Broker

[email protected] +1(650) 857-1000

Listed by Eric Katz • Magnify Real Estate

$8,888,000

Est. payment - /mo

3 Beds

2 Baths

15,311 SqFt

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UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Contingent

Purchase Type For Sale

Square Footage 15,311 sqft

Price per Sqft $580

MLS Listing ID ML82024663

Bedrooms 3

Full Baths 2

Year Built 1961

Lot Size 0.425 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Magnify is pleased to present the opportunity to acquire 2830 Flores St, a fully stabilized, turnkey 17-unit apartment building in the thriving city of San Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix of large, spacious units ideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with 15 of 17 units renovated to modern standards. With 8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.

Location

State CA

County San Mateo

Area Park Western Subdivision/Hillsdale

Zoning R4

Interior

Heating Electric, Gas, Wall Furnace

Cooling None

Exterior

Parking Features Carport , Other

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Composition,Shingle

Building

Foundation Concrete Slab

Sewer Sewer - Public

Water Public

Others

Tax ID 039-385-020

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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2830 Flores ST San Mateo, CA 94403

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

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