299 Rhine St 3 Unit Apartment Building $1,400,000 ($466,667/Unit) 4.40% Cap Rate Daly City, CA 94014

299 Rhine Street in Daly City presents a well-maintained and thoughtfully upgraded triplex situated atop a hill with sweeping neighborhood and city views. Daly City is recognized as a stable and consistently strong rental market, benefiting from its proximity to San Francisco, and steady tenant demand driven by regional employment centers such as Oyster Point, a hub for world-renowned biotech companies. The property consists of three fully renovated one-bedroom units, offering an attractive and efficient unit mix for investors and tenants alike. The building includes one standard one-bedroom unit, one one-bedroom unit with a private garage, and one oversized one-bedroom unit featuring a substantial bonus room ideal for a home office, guest space, or additional living area. All three units have been tastefully updated, enhancing tenant appeal while minimizing near-term capital improvement needs.
Residents benefit from an on-site laundry room and a private rear yard that can be shared among tenants—an increasingly desirable amenity that enhances livability and fosters a sense of community. The property’s elevated position not only provides excellent views but also creates a sense of privacy while remaining conveniently close to everyday essentials.
The location offers immediate access to shopping, dining, and retail services at Serramonte Center, as well as convenient connectivity to major transportation corridors and nearby BART stations. 299 Rhine Street is within minutes of San Francisco State University, making it attractive to students and faculty, and just a short drive from the scenic Pacific coastline at Thornton State Beach, a popular local recreation destination. Commuters enjoy straightforward access to downtown San Francisco and the broader Peninsula employment centers. The property is also conveniently located near major freeways including Interstate 280 and U.S. Route 101, providing efficient regional connectivity throughout the Bay Area. Outdoor enthusiasts benefit from proximity to San Bruno Mountain State & County Park, which offers extensive hiking trails and panoramic Bay Area views. Combining renovated interiors, desirable amenities, and a prime hilltop setting near major conveniences and employment hubs, 299 Rhine Street represents a compelling multifamily investment opportunity in a strong and established rental market.