2830 Flores ST new Save Request In-Person Tour Request Virtual Tour
San Mateo,CA 94403
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 15,311 sqft
Price per Sqft $580
MLS Listing ID ML82024663
Bedrooms 3
Full Baths 2
Year Built 1961
Lot Size 0.425 Acres
Property Sub-Type Five or More Units
Property Description
Magnify is pleased to present the opportunity to acquire 2830 Flores St, a fully stabilized, turnkey 17-unit apartment building in the thriving city of San Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix of large, spacious unitsideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with 15 of 17 units renovated to modern standards. With 8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.
Location
State CA
County San Mateo
Area Park Western Subdivision/Hillsdale
Zoning R4
Interior
Heating Electric,Gas,Wall Furnace
Cooling None
Exterior
Parking Features Carport ,Other
Utilities Available Individual Electric Meters,Individual Gas Meters
Roof Type Composition,Shingle
Building
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Others
Special Listing Condition Not Applicable