577 Laurel St 5 Unit Apartment Building $4,900,000 ($980,000/Unit) 3% Cap Rate San Carlos, CA 94070

Rare opportunity to acquire a 5-unit mixed-use building in the heart of Downtown San Carlos. 577 Laurel Street combines four (large 2 bedroom/2 bathroom) residential units with prominent ground-floor commercial frontage on one of the Peninsula's most coveted retail corridors, steps from Caltrain, Highway 101, and the Laurel Street dining and shopping district. Parcel is zoned MU-DC-100 (Mixed-Use Downtown Core), which permits ground-floor commercial with residential above as a principal use. the property pairs in-place cash flow with meaningful long-term upside through mark-to-market rent growth, expense optimization, and durable Peninsula appreciation. Well-suited for 1031 exchange buyers seeking trophy Peninsula real estate, family offices building generational holds, value-add operators, or owner-users looking to occupy the commercial space and offset debt with residential income (SBA 504 financing eligible).
Downtown San Carlos features outstanding Walk Score, top-rated schools, and a thriving commercial corridor. Note: San Mateo County Assessor records reflect 4 residential units; zoning permits the current 5-unit mixed-use configuration.