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Large Corner Lot 126 N Ellsworth Ave 5 Unit Apartment Building $2,300,000 ($460,000/Unit) 4.52% Cap Rate San Mateo, CA 94401
INVESTMENT HIGHLIGHTS
- Corner Lot / A+ Location
- Property Inspections are Buyer Favorable
EXECUTIVE SUMMARY
Prime 8,800+ Sq Ft Corner Lot
This well-located five-unit property sits on a prominent corner lot in one of San Mateo’s most strategic and in-demand locations. All five units have been upgraded, and property inspection reports are buyer-favorable. Zoned R-4, the property supports higher-density residential development, offering meaningful value-add potential for investors or developers.
With an exceptional 94 Walk Score, 126 N Ellsworth is just 1.5 blocks from Caltrain and steps to Downtown San Mateo’s core business district, dining, and retail. This central, transit-oriented location consistently supports strong tenant demand and historically low vacancy, driven by immediate access to the Peninsula’s leading AI, tech, and biotech employers.
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This well-located five-unit property sits on a prominent corner lot in one of San Mateo’s most strategic and in-demand locations. All five units have been upgraded, and property inspection reports are buyer-favorable. Zoned R-4, the property supports higher-density residential development, offering meaningful value-add potential for investors or developers.
With an exceptional 94 Walk Score, 126 N Ellsworth is just 1.5 blocks from Caltrain and steps to Downtown San Mateo’s core business district, dining, and retail. This central, transit-oriented location consistently supports strong tenant demand and historically low vacancy, driven by immediate access to the Peninsula’s leading AI, tech, and biotech employers.
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FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$132,000
|
$47.14
|
| Other Income |
$95
|
$0.03
|
| Vacancy Loss |
$5
|
$0.00
|
| Effective Gross Income |
$132,090
|
$47.18
|
| Taxes |
$19,000
|
$6.79
|
| Operating Expenses |
$25,505
|
$9.11
|
| Total Expenses |
$44,505
|
$15.89
|
| Net Operating Income |
$87,585
|
$31.28
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $132,000 |
| Annual Per SF | $47.14 |
| Other Income | |
|---|---|
| Annual | $95 |
| Annual Per SF | $0.03 |
| Vacancy Loss | |
|---|---|
| Annual | $5 |
| Annual Per SF | $0.00 |
| Effective Gross Income | |
|---|---|
| Annual | $132,090 |
| Annual Per SF | $47.18 |
| Taxes | |
|---|---|
| Annual | $19,000 |
| Annual Per SF | $6.79 |
| Operating Expenses | |
|---|---|
| Annual | $25,505 |
| Annual Per SF | $9.11 |
| Total Expenses | |
|---|---|
| Annual | $44,505 |
| Annual Per SF | $15.89 |
| Net Operating Income | |
|---|---|
| Annual | $87,585 |
| Annual Per SF | $31.28 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Fireplace
- Washer/Dryer
- Granite Countertops
- Vaulted Ceiling
- Refrigerator
- Range
- Tub/Shower
- Garden
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Picnic Area
- Zen Garden
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $1,350 | 400 |
| 1+1 | 3 | $2,250 | 600 - 750 |
| 1+1 | 1 | $2,700 | 800 |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 032-302-010 | Total Assessment | $535,373 (2025) |
| Land Assessment | $161,451 (2025) | Annual Taxes | $19,000 ($6.79/SF) |
| Improvements Assessment | $373,922 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
032-302-010
Land Assessment
$161,451 (2025)
Improvements Assessment
$373,922 (2025)
Total Assessment
$535,373 (2025)
Annual Taxes
$19,000 ($6.79/SF)
Tax Year
2024
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Large Corner Lot | 126 N Ellsworth Ave
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