518 19th Avenue , San Mateo , CA 94403; Multifamily Properties For Sale; A-1 in San Mateo County
No. Units: 7
Building Size: 5,440 SF
Lot Size: 0.18 AC
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
No. Stories: 2
Year Built: 1958
Seller Carry Opportunity for Qualified Investor! 518 19th Avenue consists of (4) one bedroom/ one bath units and (3) Studio units benefiting from above average size units and month to month tenancy . The current rents are significantly below market allowing a purchaser the ability to add value immediately and achieve a 5.29% Cap Rate and 12.72 GRM. Value adjusted to compensate for above market interest rate of 7 percent amortized over 25 years. Current loan amount of $821,290 with 5 years remaining must be assumed to make purchase. Buyer to be qualified by current note holder.
518 19th Avenue is located in San Mateo and is in close proximity to Hillsdale Mall, Caltrain and highways 101, 280 & 92. Equidistant between San Francisco and the heart of Silicon Valley the property is strategically positioned near many of the bay area’ s largest employers and most popular local attractions.