Multifamily Property for Sale in San Mateo, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Mateo, CA 94402

Description

1504 S Claremont St is an exceptional 8-unit apartment community located in the thriving city of San Mateo, California. Situated on a 10,638 square foot parcel of land, the subject property was originally constructed in 1959 and has a gross building area of approximately 5,911 square feet, offering its tenants 100% beautifully designed one-bedroom floor plans. San Mateo is strategically located between San Francisco and San Jose, and the city is well situated and offers an ideal climate in a robust and successful community and region. San Mateo offers a vibrant business and retail environment with several major shopping centers and an active downtown area, with many notable attractions in the city including the many street retailers lined along North El Camino Real, the popular Hillsdale Shopping Center, and San Mateo Medical Center. 1504 S Claremont St is within walking distance to Downtown San Mateo (1 mi), featuring a myriad of diverse retail shops, dining and entertainment options, and the subject property is also located within close proximity to major transportation corridors including U.S. Route 101, California State Route 92, and the San Mateo Caltrain Station. These transportation hubs provide tenants and residents with convenient access to San Francisco and San Jose and provide close proximity to many of the nation's top tech employers including Google, Facebook, Stanford, Box Inc., Visa, Sony, as well as many others. The investment appeal of this asset is driven by San Mateo's strong employment fundamentals and low vacancy levels, and with a world-class location in the heart of the Peninsula, 1504 S Claremont St presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options. Investment Highlights: • High Cash Flowing Asset Within Walking Distance to Downtown San Mateo • Prime San Mateo Location • Convenient Access to Transportation Corridors

Market Context

This multifamily in San Mateo, CA is listed for sale. It is offered at an approximate 5.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in San Mateo, CA — <a href="/search/sale/multifamily/california/san-mateo">view the full market</a>.

As of Q3 2019, the San Francisco Peninsula multifamily market showed a 4.0% vacancy rate. Source: Colliers Q3 2019 market report.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the San Francisco Peninsula multifamily market tightening or softening?
Vacancy is around 4.0% (Q3 2019).

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