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Multifamily

333 Catalpa St

333 Catalpa St, San Mateo, CA 94401

Listing Price: $4,750,000

Cap Rate
4.18%
Number of Units
10
GRM
16.63
Occupancy
97.0%
Price/Unit
$475,000
Price/Gross SF
$506.50
Gross SF
9,378

Investment Overview

333 Catalpa Street is a rare opportunity to acquire a turnkey, updated and well-maintained multifamily property located in Downtown San Mateo on the highly desirable San Francisco Peninsula. The ten (10) unit apartment building, consisting of all one-bedroom-one-bathroom units. The property features ten (10) covered parking spaces, fourteen (14) private storage lockers, and a laundry facility featuring Two (2) coin-operated washers & dryers. The property has a strong historical occupancy with many great long-term Tenants (10-15+ years). Since the beginning of the COVID-19 pandemic, the property has received 100% rent collections, and has had zero vacancies. The current ownership has been invested significant capital into the property over the last 2-3 years which has proven successful based on their ability to increase rents on 100% of the units while retaining long-term tenants.

333 Catalpa is located just a 2-minute walk to the San Mateo Caltrain station in Downtown San Mateo. The location is hard to beat with countless amenities (dining, entertainment, shopping), access to transportation, and many top employers all within walking distance. The Walk Score is 96, making the property an exceptionally walkable location.

San Mateo is located in San Mateo County, California, about 20 miles (32 km) south of San Francisco, and 31 miles (50 km) northwest of San Jose. It has a Mediterranean climate, with warm, dry summers and mild, slightly wet winters. The biggest economic contributors to the city include the Medical Center, one of the local school districts, and Sony's Sony Interactive Entertainment division. The surrounding area is in close proximity to many of the nations largest technology employers like: Oracle, Visa, Facebook, Salesforce, Kaiser, Stanford Medical, and many many more.

Investment Highlights

  • Large One-Bedroom Units (Potential 2-Bedroom Expansion)
  • 100% Rent Collection Throughout COVID-19 (Zero Vacancies)
  • Two (2) Blocks from Downtown San Mateo CalTrain Station
  • Seller has Completed Extensive Capital Improvements (5 Units Completely Renovated)
  • Brand New 2020 Roof and New Dual Pane Windows
  • Excellent Downtown San Mateo Location - 98 Walk Score

Exclusively Listed By

Listing Price: $4,750,000

Cap Rate
4.18%
Number of Units
10
GRM
16.63
Occupancy
97.0%
Price/Unit
$475,000
Price/Gross SF
$506.50
Gross SF
9,378

Investment Highlights

  • Large One-Bedroom Units (Potential 2-Bedroom Expansion)
  • 100% Rent Collection Throughout COVID-19 (Zero Vacancies)
  • Two (2) Blocks from Downtown San Mateo CalTrain Station
  • Seller has Completed Extensive Capital Improvements (5 Units Completely Renovated)
  • Brand New 2020 Roof and New Dual Pane Windows
  • Excellent Downtown San Mateo Location - 98 Walk Score

Investment Overview

333 Catalpa Street is a rare opportunity to acquire a turnkey, updated and well-maintained multifamily property located in Downtown San Mateo on the highly desirable San Francisco Peninsula. The ten (10) unit apartment building, consisting of all one-bedroom-one-bathroom units. The property features ten (10) covered parking spaces, fourteen (14) private storage lockers, and a laundry facility featuring Two (2) coin-operated washers & dryers. The property has a strong historical occupancy with many great long-term Tenants (10-15+ years). Since the beginning of the COVID-19 pandemic, the property has received 100% rent collections, and has had zero vacancies. The current ownership has been invested significant capital into the property over the last 2-3 years which has proven successful based on their ability to increase rents on 100% of the units while retaining long-term tenants.

333 Catalpa is located just a 2-minute walk to the San Mateo Caltrain station in Downtown San Mateo. The location is hard to beat with countless amenities (dining, entertainment, shopping), access to transportation, and many top employers all within walking distance. The Walk Score is 96, making the property an exceptionally walkable location.

San Mateo is located in San Mateo County, California, about 20 miles (32 km) south of San Francisco, and 31 miles (50 km) northwest of San Jose. It has a Mediterranean climate, with warm, dry summers and mild, slightly wet winters. The biggest economic contributors to the city include the Medical Center, one of the local school districts, and Sony's Sony Interactive Entertainment division. The surrounding area is in close proximity to many of the nations largest technology employers like: Oracle, Visa, Facebook, Salesforce, Kaiser, Stanford Medical, and many many more.

Exclusively Listed By

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