Thomas Patriss

Agent | License ID: 02134905

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$ 2,475,000

$ 2,500,000 1.0%

Est. payment | -/mo

6,185 Sqft Lot

$ 2,475,000

$ 2,500,000 1.0%

Est. payment | -/mo

6,185 Sqft Lot

Key Details

Sold Price $2,475,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID ML82031813

Sold Date 05/27/26

HOA Y/N No

Year Built 1964

Annual Tax Amount $28,375

Lot Size 6,185 Sqft

Property Description

Excellent opportunity to acquire a well-maintained and partially renovated 7-unit multifamily property in the heart of Brisbane, known as the City of Stars. Built in 1964, this apartment complex consists of (6) one-bedroom/one-bath units and (1) two-level loft-style one-bedroom/one-bath unit, totaling approximately 6,300 sqft. The building has undergone significant capital improvements including General Electric breakers, solar installation (2020 - no PG&E bill), new thermal foam roof (2020), and a new electric hot water system. Four (4) units have been FULLY REMODELED, and SB-721 report has been recently completed. - Current ownership has maintained strong operations with an annual NOI of approximately $152,000, a 6.10% Cap Rate, and a 12.12 GRM based on in-place income. On-site laundry includes two coin-operated washers and two dryers for additional income. Centrally located with easy access to Highway 101, San Francisco, Silicon Valley, and Serramonte Shopping Center, this property offers a compelling blend of stable cash flow, long-term appreciation, and future upside through continued renovations and rent growth. Some of the photos in this listing have been digitally altered.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning Multifamily Residential

Interior

Heating Wall Furnace

Fireplace No

Exterior

Carport Spaces 6

Roof Type Foam

Total Parking Spaces 1

Building

Water Public

Schools

Elementary Schools Other

Middle Schools Other

High Schools Other

School District Other

Others

Tax ID 007362160

Financing Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Nate Gustavson Compass #01898316
Bought with Robert Johnston Marcus & Millichap

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693 San Bruno AVE Brisbane, CA 94005