Sold
501 S Fremont ST
SAN MATEO CA, 94402
$3,750,000
$538.02 per sqft
Sold
6,970 sqft
Multi-family
Built in 1964
Listed by Colliers Parrish International, Don Sung, Listing Contact: 6503805188
Rarely Available Opportunity to Acquire 6 Spacious, Easy-To-Manage 2-Bedroom/1-Bath Units Near Downtown San Mateo. Conveniently-Located Asset Near Downtown San Mateo. Very Easy Access From Highway 101. Desirable Rental Location on 2 Quiet Treelined Streets (S. Fremont and E. 5th Ave). All 2 Bedroom/1 Bath Units (887 SF Each). Walk to San Mateo Cal-Train & Downtown San Mateo. Updated Units w/ Excellent Floorplan. Potential to Add 2 to 3 ADUs. Supply-Constrained. Very Few Small to Midsized Apartments Nearby. Mixed in w/ Single Family Homes. Renovated Apartment Units: All Units Equipped With Dishwasher, Plus Potential to Add In-Unit Washer & Dryers to Boost Rents and NOI. Capital Improvements: Updated Plumbing and Electrical, Dual-Pane Windows, New Water Heaters, New Exterior Painting, New Drought-Resistant Landscaping. Proven, Consistent Income-Generator, Providing Strong Cashflow with Very Low Vacancies and Turnovers. Low Operating Costs. Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 280. Walkscore: 92. Bike Score: 84. Current CAP Rate: 3.45% / Current GRM: 17.4. Pro-Forma CAP Rate: 4.13% / Pro-Forma GRM: 15.5. Cost Per SF: $556.7/SF.
ML81965208
MLSⓇ ID
May 10, 2024
Listed
August 30, 2024
Updated
Map
501 S Fremont ST
SAN MATEO CA, 94402
Interior Features
Appliances
Dishwasher, Refrigerator, Oven, Range, Washer, Disposal
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.2 Acres
Roof
Composition
Sewer
Public Sewer
School Information
School District
San Mateo-Foster City Elementary
Other Property Details
Area Name
19th Avenue Park / Sunnybrae
Garage
Yes
Garage Spaces
6
Parking Total
2
View
No
County
San Mateo
Water Source
Public
Pool
No
Zoning
R3
Listing History
Date | Event | Price |
---|---|---|
8/30/2024 | Sold | $3,750,000 |
8/25/2024 | Pending | — |
Listed by Colliers Parrish International, Don Sung,
Listing Contact: 6503805188
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Data last updated 4:12 PM UTC, 8/30/2024