Active

501 S Fremont ST

SAN MATEO CA, 94402

$3,880,000


$556.67 per sqft

Active

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

May 11, 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

938

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


Buyer Agency Compensation

2%

Listed by Colliers Parrish International, Don Sung,
Listing Contact: 6503805188 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Samia S. Morgan | CA DRE# 00967165 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLS Listings, Inc. MLS system. Real estate listings held by brokerage firms other than Samia S. Morgan | CA DRE# 00967165 are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents.

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Data last updated 12:36 AM UTC, 5/11/2024

 

 

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