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101 Twenty-Fourth 101 24th Ave 12 Unit Apartment Building $5,760,000 ($480,000/Unit) 4.17% Cap Rate San Mateo, CA 94403
INVESTMENT HIGHLIGHTS
- Centrally located between San Francisco and Silicon Valley.
- Desirable unit mix
- Proximity to major employers, Caltrain, and Highway?101
EXECUTIVE SUMMARY
This 12-unit property offers an excellent blend of in-place cash flow and value-add potential. With historically high occupancy and significant demand for housing throughout San Mateo County, investors can benefit from continued rent growth and strong tenant retention. Located in a high-demand area near Hillsdale Shopping Center, Caltrain, and downtown San Mateo amenities. The property benefits from proximity to major tech employers and lifestyle conveniences.
PROPERTY FACTS
| Price | $5,760,000 | Apartment Style | Low-Rise |
| Price Per Unit | $480,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.17% | Building Size | 11,731 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 0.94/1,000 SF |
| Price | $5,760,000 |
| Price Per Unit | $480,000 |
| Sale Type | Investment |
| Cap Rate | 4.17% |
| Gross Rent Multiplier | 17 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 11,731 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 0.94/1,000 SF |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Washer/Dryer
- Heating
- Kitchen
- Intercom
- Patio
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Trash Pickup - Curbside
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 039-174-110 | Improvements Assessment | $4,380,048 |
| Land Assessment | $1,065,414 | Total Assessment | $5,445,462 |
PROPERTY TAXES
Parcel Number
039-174-110
Land Assessment
$1,065,414
Improvements Assessment
$4,380,048
Total Assessment
$5,445,462
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101 Twenty-Fourth | 101 24th Ave
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