327 Grand Blvd 3 Unit Apartment Building Offered at $1,495,000 at a 3.52% Cap Rate San Mateo, CA 94401

*Call for offers Thursday 10/16 at 11:00am.*
* The adjacent triplex at 321 Grand Boulevard and the fourplex at 315 Grand Boulevard are also available for sale.*
327 Grand Boulevard in San Mateo presents a rare investment opportunity in one of the Bay Area's most coveted submarkets. This triplex offers a blend of stable in place income and has tremendous income upside. The property consists of a single story duplex and a two-story building, spanning 2,107 square feet situated on a generous 7,651 square foot lot. . There are 2 two-bedroom/one-bathroom units and 1one-bedroom/one-bathroom unit. Currently, all three units are occupied, providing steady rental income.
With the average cost of a single family house at $1,671,000 in San Mateo and $2,800,000 in Burlingame, a future owner-user would benefit from living in a fully renovated unit while collecting rental income from the other units to offset their housing expenses. Upon unit turnover this property has the potential serve as a multi-generation family compound.
Ideally located in San Mateo's North Central neighborhood, 327 Grand Boulevard is located one mile from Downtown Burlingame's restaurants and boutiques. Nearby Downtown San Mateo provides additional local amenities with its thriving business district, diverse culinary scene, and rich cultural attractions. The property offers convenient access to Highway 101 and Caltrain for quick commutes to San Francisco, Silicon Valley, and the Peninsula's major employment centers. Coyote Point Recreation Area is 2.1 miles away, and San Francisco International Airport is 5.3 miles away. The combination of steady income, the potential to renovate and reposition the property, and the opportunity to owner-occupy provide both near-term and long-term appreciation potential. The strong rent growth, shortage of housing units, proximity to large Silicon Valley
employers, and repositioning potential make 327 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor.
More information can be found 327grandblvd.com