100106 N Bayshore BLVD, San Mateo, CA 94401
100106 N Bayshore BLVD, San Mateo, CA 94401
100106 N Bayshore BLVD, San Mateo, CA 94401
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$9,450,000
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0.57 Acres Lot
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100106 N Bayshore BLVD San Mateo, CA 94401

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Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82050464

HOA Y/N No

Year Built 1960

Annual Tax Amount $105,849

Lot Size 0.573 Acres

Property Description

Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in additional RUBS income upon implementation.Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning Commercial Multifamily

Interior

Heating Wall Furnace

Fireplace No

Exterior

Carport Spaces 36

Roof Type Flat,Tar/Gravel

Total Parking Spaces 4

Building

Water Public

Schools

Elementary Schools Other

Middle Schools Other

High Schools San Mateo

School District Other

Others

Tax ID 033171150

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Nate Gustavson Compass #01898316

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100106 N Bayshore BLVD

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Herb Rim

Herb Rim

Realtor | License ID: 01870707

+1(818) 699-9179

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  • 100
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