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1201 Monte Diablo Ave
San Mateo, CA 94401
The Marq at Shoreview · Multifamily Property For Sale
·
68 Units
Property Facts
| No. Units | 68 | Building Size | 56,300 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 1.29/1,000 SF |
| Lot Size | 1.00 AC | ||
| Zoning | R-1 | ||
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 56,300 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | R-1 |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Disposal
- Heating
- Kitchen
- Satellite TV
- Patio
- Window Coverings
Site Amenities
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Grill
- Elevator
About 1201 MONTE DIABLO AVE , SAN MATEO, CA 94401
THE OFFERING Colliers International, as the exclusive advisor, is pleased to present the opportunity to acquire The Marq at Shoreview, a 70-unit apartment community in San Mateo, CA. The Marq is located at 1201 Monte Diablo Avenue in San Mateo, CA. The property is ideally located equidistant to two of the nation' s most dynamic job centers in San Francisco and the core of Silicon Valley. HIGHLIGHTS: - 69-unit apartment property with adjacent 3-bedroom house. - Recently renovated onsite gym with high-end equipment - Leasing office adjacent to large, sun-filled pool terrace - Secure underground parking for all residents - Onsite laundry facility with card-reader technology - Immediately adjacent to new luxury townhouse development (2-br condos $1.05M+) - Within walking distance to San Mateo Caltrain station via adjacent footbridge - Located nearly equidistant to major job centers in San Francisco and Silicon Valley - 4.1% cap on current income, 5.3% Cap on market rents - 5.6% Cap following completion of proven renovation - Owner recently completed over $1.4M in capital improvements and unit upgrades (Approx. 35 units fully renovated) - Potential for additional $60K+ annual revenue through implementation of a RUBs program - 90% of rental competitive set charging tenants for all utilities huge opportunity - Current asking market rents approximately $800 below submarket class-A product - Priced well below replacement cost and all sales comparables at only $321K per unit. - CONTACT LISTING AGENTS FOR MARKETING PACKAGE - DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT FINAL TOURS: - Thursday April 27, 10:00am-12:00pm OFFERS DUE MAY 2nd @ 5pm
Property Taxes
| Parcel Number | 033-101-260 | Improvements Assessment | $17,181,223 |
| Land Assessment | $7,964,803 | Total Assessment | $25,146,026 |
Property Taxes
