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16 Bellevue Ave W
San Mateo, CA 94401
Hillsborough Apartments · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Attractive Unit Mix: All 4 units are 2-bed, 1-bath, nearly 1k sf each
- Updated Property: Numerous recent repairs and capital improvements.
- Add an ADU: Convert the carport parking into an additional unit or two to increase value and cash fl ow!
- Extremely Easy to Rent: Updated turn-key units in a great location are attractive to quality tenants and rent up quickly on turnovers
- Excellent in-place rents: Stable low-management income from steady tenants with some room to increase rents further
- Note: Some photos in this listing are virtually staged with AI
Executive Summary
TRUE TROPHY FOURPLEX BORDERING HILLSBOROUGH!! The Hillsborough Apartments is an incredible opportunity to acquire a true pride of ownership property in one of the most sought after locations on the peninsula. With outstanding in-place rents, this trophy asset is a true turnkey apartment building perfect for investors, owner-occupiers, and generational family purchasers alike. Strategically positioned west of the El Camino Real, bordering the prestigious Hillsborough neighborhood, this property is a MUST SEE! Attractive Unit Mix: All four units are 2-bed, 1-bath, approximately 1,000 sf each. The property benefits from numerous recent upgrades and capital improvements. All 4 units updated with granite counters and subway tile wainscoting, crown molding, arched walkways, custom cherry cabinets, Restoration Hardware fixtures, Baldwin door knobs & deadbolts, and Leviton dimmer lights and electric plugs. New roof in 2021, new water heaters, new sewer lateral in 2019 & new sewer line and cleanout. New plumbing valves. Double-Paned windows throughout with custom plantation shutters. Energy Efficient Washer/ Dryer in each unit. Add an ADU by converting the garage parking into an additional unit or two to increase value and cash flow!
OPEN HOUSE TOURS: Wednesday, July 29th from 11am - 1pm. Wednesday, August 5th from Noon - 1pm. Inspections being conducted on July 29th.
OPEN HOUSE TOURS: Wednesday, July 29th from 11am - 1pm. Wednesday, August 5th from Noon - 1pm. Inspections being conducted on July 29th.
Property Facts
| Price Per Unit | $837,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| No. Units | 4 | Building Size | 3,856 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1949 |
| Apartment Style | Low-Rise | Parking Ratio | 0.52/1,000 SF |
| Zoning | R-4, City/San Mateo | ||
| Price Per Unit | $837,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,856 SF |
| No. Stories | 2 |
| Year Built | 1949 |
| Parking Ratio | 0.52/1,000 SF |
| Zoning | R-4, City/San Mateo |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 865 |
Property Taxes
| Parcel Number | 032-071-050 | Improvements Assessment | $2,321,170 |
| Land Assessment | $1,914,964 | Total Assessment | $4,236,134 |
Property Taxes
Parcel Number
032-071-050
Land Assessment
$1,914,964
Improvements Assessment
$2,321,170
Total Assessment
$4,236,134
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