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Listed by Matthew Flaherty Colliers International
$ 2,050,000
Est. payment | /mo
5,280 SqFt
$ 2,050,000
Est. payment | /mo
5,280 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,280 sqft
Price per Sqft $388
MLS Listing ID 426157188
HOA Y/N No
Year Built 1979
Lot Size 0.330 Acres
Acres 0.33
Property Sub-Type Multi Family
New Construction No
Property Description
The Bay Area Portfolio: four apartment communities totaling 41 units across Millbrae, Redwood City, Martinez, and Concord, spanning San Mateo and Contra Costa Counties. Individual assets range from 8 to 15 units. The Offering is available as a whole, in sub-portfolios, or asset by asset. The portfolio divides along county lines by basis and by yield. The San Mateo County sub portfolio accounts for 25 units and $11,300,000 at an average go-to-market cap rate of4.94%, while the Contra Costa County sub portfolio accounts for 16 units and $4,450,000 at 5.26% go-to-market cap rate. On the Peninsula, 472-480 Lincoln Circle sits in the affluent Telescope Hills neighborhood roughly one mile from the Millbrae Intermodal Station, the only platform in the region where BART connects directly with Caltrain. 1548 Hudson Street holds the portfolio's largest floorplans, averaging about 1,160 square feet per unit, in Redwood City's Palm Park neighborhood. In-place rents at the two Peninsula assets run 10.54% and 10.34% below market, respectively. 472-480 Lincoln Circle, Millbrae 1548 Hudson St, Redwood City 3550 Chestnut Ave, Concord 1524-1534 Willow St, 1131 Warren St, Martinez
Location
State CA
County Contra Costa
Area Concord
Interior
Fireplace No
Building
Lot Description Other
New Construction No
Others
Tax ID 1131810234
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