Properties

Comm Ri Multi-units 5+ For Sale

6,358 Sqft - 429 Studio Circle, SAN MATEO, California 94401

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Property Description

429 Studio Circle offers an investor the opportunity to acquire a fully renovated apartment property with extensive interior and exterior renovations. Studio Circle sits on a 7,564 SF lot with 6,358 SF of rentable space. The building consists of (2) two bedroom/ one bath units & (5) one bedroom/ one bath units. All units benefit from significant interior upgrades including: In-Unit Washers & Dryers, Updated Kitchens w/ new counters, cabinets, modern backsplash & appliances, renovated Baths, New LVT flooring and interior paint. Tenants enjoy private yards or balconies, extra storage space and carport parking (2 garage spaces). The property also benefits from a brand new roof and dual pane windows throughout. The current owners have spent significant capital and have achieved top of the market rents allowing a new landlord to acquire a true turnkey investment. The building is equidistant to downtown Burlingame & San Mateo & .7 miles from Washington Park and Bgame Cal Train Station.

Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : ML81825919
Price : $3,900,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 6,358 Sqft
Year Built : 1962
Lot Area : 0.17 Sqft
Features
Heating System : Gas
Roof : Composition Shingles
Address Map
Country : US
State : CA
County : San Mateo
City : SAN MATEO
Zipcode : 94401
Street : Studio Circle
Street Number : 429
Floor Number : 0
Longitude : W123° 39' 52.9''
Latitude : N37° 34' 41.5''
MLS Addon
Office Name : Cornish & Carey Commercial
Building Type : Other
Area : Eastern Addition/Downtown Area
Address : 429 Studio Circle
LA1User Code : MLL5067459
LA1Agent First Name : Steve
LA1Agent Last Name : Zirelli
Status Category : Sold
Tot # Parking Spaces : 0
Tot # of Units : 7
Zoning : R3
List $/SqFt : $0
Age : 59
Apx Lot Sq Ft : 7,564 Sqft
Type of Building : Apt Complex
Annual Taxes : $53,983
Total Deposits : $0
ALL UNITS HAVE : Refrigerator
FLOORING : Laminate, Hardwood Floors
ON-SITE PARKING DESC : Attached Garage
OPERATING EXPENSES : Insurance, Trash Removal, Water
TENANT PAYS : Electric, Gas
WATER/SEWER : Water - Public, Sewer System - Public
Bus Sq Ft of Bldg : 0 Sqft
Other Loans (Y/N) : No
1st Loan Balance : $0
2nd Loan Balance : $0
Tot Other Loans : $0
Financial Data Verif(Y/N) : 3.35
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Excl Right
Listing Service : Full Service
Special Information : None
Original Price : $3,900,000
Sold Price : $3,700,000
Previous Price : $0
Concessions : 200003720000
Sale $/SqFt : $0
Gross Oper Actual Inc : 0
Annual Gross Sched Inc : 214500
Net Oper Income : 130675
Annual Mgmt Exp : 0
Annual License Exp : 0
Annual Util Exp : 7800
Other Ann Exp : 0
Tot Ann Oper Exp : 0
First Loan Payment : 0
First Balance : 0
Annual Insurance Exp : 0
INTERNET DISPLAY : 0
INTERNET SITES : 0
SA1Agent Type : 0
Gross Rent Multiplier : 18.18
Buyer Agent DRE Num. : 01905231
List Agent DRE Num. : 01929245
Filtered Address : 429 Studio CIR
LA1Agent License ID : 01929245
LA1Old Agent ID : 308407
LA2Agent First Name : Matthew
LA2Agent Last Name : Thomson
LA2User Code : MLL5067040
LA2Old Agent ID : 306836
Annual Vacancy : 0
Gross Income : 0
Sale/Original $ : 0
Annual Exp Yr : 0
Sale $/SqFt : 0
1st - Yrs Remaining : 0
Sale/Last List $ : 0
Interest Rate : 0
Board ID : Datashare MLSListings
Assessors Parcel No : 032-135-020-000
Showing : Appointment Only,Call Listing Agent
LO2Office Name : Newmark Cornish & Carey
LO1Main Office ID : 70361
LO1Board ID : 0
LO2Office Identifier : 76108
LO2Main Office ID : 76108
SO1Office Identifier : 0
SO1Board ID : 0
SO2Office Identifier : 0
SO2Office Type : 0
VOW Include : Yes
VOW Address : Yes
VOW Comment : Yes
VOW AVM : Yes
Status Detail : 0
Search Price : 3700000
Address Search Number : 429
Listing Agent : 282030
Listing Office : 70361
Co-List Agent : 281611
Listing Office 2 : 76108
Apprx Equity : 0
Buyer Agent 1 : 0
Buying Office 1 : 0
Co-Sell Agent : 0
Buying Office 2 : 0
Photo Count : 12
Input Date : 15/01/2021 17:12:25
Update Date : 12/08/2021 17:11:41
PhotoTimestamp : 12/08/2021 20:43:46
First Photo Add Timestamp :
List Date : 15/01/2021
Expire Date :
Pending Date : 23/06/2021
Closing Date : 10/08/2021
Status Date : 11/08/2021
Price Date :
Off Market Date : 23/06/2021
Status : Sold
Dual Variable : No
HOA : No
Off Market Status Date :
LVT Date :
DOMLS : 159
Cumulative DOMLS : 159
Unit # 1 # of Bedrooms: 2
Unit # 1 Rent: 3075
Unit # 2 # of Bedrooms: 1
Unit # 2 Rent: 1900
Comm Ri Multi-units 5+ For Sale
  • Listing ID : ML81825919
  • Bedrooms : 0
  • Bathrooms : 0
  • Square Footage : 6,358 Sqft
$3,900,000
Agent info
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