22 E 20th Ave
San Mateo, CA 94403
Multifamily Property For Sale · 15 Units

Immediate Positive Net Cash Flow With Loan Assumption Loan Assumption Terms: $3,700,000 at 3.53% interest rate, 5 years remaining *Contact Listing Agents for Marketing & Due Dilignence *15 units (14 legal units + 1 non-conforming) Constructed in 1972, this asset sits upon a 14,500 square foot lot and commands 13,862 square feet of building area. 22 E 20th Avenue offers fourteen (14) exceptionally large one-bed, one-bath units and one non-conforming studio unit which can be utilized for its current income or as an Airbnb unit. The units have received extensive capital improvements and include hardwood flooring, new granite counter tops, new cabinetry, appliances, recessed lighting and more. To further add to their high-quality condition, the units boast recessed lighting throughout, spacious living rooms and large bedrooms. The building itself has been meticulously maintained and is demonstrated by the aesthetic landscaping, new dual pane windows and high end exterior LED lamp lights. Unseen by the investor’s eye is the upgraded copper plumbing throughout and brand new 60 mil TPO roof. In addition to all of these upgrades, this asset also boasts secured and gated parking which makes it superior to most of the competition and easy to rent. 22 E 20th Avenue’s exceptional location will appeal to both first time and seasoned investors. It is located within a 10-minute walking distance of a multitude of retailers, restaurants and amenities including San Mateo City Hall, Junipero Serra High School and Starbucks. Also, within walking distance from 22 E 20th Avenue is the Hayward Park Caltrain and the new 304,807 square foot 400|450 Concar Hines development which entails Class A LEED office buildings and retail.. Finally, it sits right off of the employment corridor of El Camino Real and is less than two miles from State Route 92. Both of these can be used to quickly access anywhere on the Peninsula, including a less than two-mile drive to downtown San Mateo and to the major transit corridors of Highway 280 & 101. The subject property is approximately 4 miles from Google headquarters.