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JLee Broker

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

Listed by Edward Tseng, DRE #02013904 • Keller Williams Thrive

$2,238,888

Est. payment - /mo

4,410 SqFt

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UPDATED:

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 $507

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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Nearby School & Business

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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840 El Camino Real Millbrae, CA 94030

JLee Broker

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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