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Multifamily

146 Dartmouth Road

146 Dartmouth Rd, San Mateo, CA 94402

Listing Price: $4,795,000

Cap Rate
3.01%
Number of Units
8
GRM
20.08
Occupancy
97.0%
Price/Unit
$599,375
Price/Gross SF
$427.25
Gross SF
11,223

Investment Overview

146 Dartmouth Road is a highly rare and pride of ownership asset situated West of El Camino Real bordering Hillsborough in San Mateo, California. The subject apartment complex was built by the seller's in 1957 and has never been marketed for sale to the public until now. Located in the Baywood neighborhood,146 Dartmouth is situated seconds from Downtown San Mateo, the exclusive Hillsborough heights neighborhood, Caltrain and many other highly attractive locations.

The average medium household income within a 5-mile radius of the subject property is nearly $200,000. Moreover, the property features exceptionally large and well-built floor plans for both residents and landlords alike. 146 Dartmouth Road is comprised of four two-bedroom/two-bath, two two-bedroom/one-bath and two studios totaling eight apartments and 11,223 of rentable building square footage (per county records). In addition to this sites attractive unit mix, the property also accommodates a total of 16 parking spaces including but not limited to: carports, garages and open spaces all situated on the premises. 146 Dartmouth Road is also located in an excellent school district. The subject property is located within San Mateo-Foster City School district; however, it is nestled in the Baywood Elementary School (920 API) district zone which is a higher income zone compared to other properties located in San Mateo. Furthermore, the property also feeds into Borrel Middle School (772 API) located in the San Mateo-Foster City School district and Aragon High School (849 API) which is located in the San Mateo Union High School District.

San Mateo has seen tremendous growth in the last twenty years due to an exuberant amount of tech IPO's, prestigious universities, and a land mass that has created a restricted amount of new developments to support new households. San Francisco and Silicon Valley are the two highest income per capita regions in the United States. San Mateo is nestled between them, along with its proximity to San Francisco International Airport, Northern California's most important airport. Because of all of these attractive attributes and many more unmentioned, 146 Dartmouth Rd will continue to see high rental demand, rent growth, appreciation, and a strong tenant profile for many years to come.

Investment Highlights

  • Located In The Prestigious Baywood Community of San Mateo.
  • Legacy Asset | First Time Available To The Public For Purchase.
  • West of The El Camino Location Bordering Hillsborough.
  • Strong Unit Mix: (2) 2 Bdr 1 Bath, (4) 2 Bdr 2 Bath, (2) Studios.
  • Condo Quality Floor Plans W/ Dual Pane Windows.
  • Extremely Well-Maintained Pride of Ownership Property.

Exclusively Listed By

Listing Price: $4,795,000

Cap Rate
3.01%
Number of Units
8
GRM
20.08
Occupancy
97.0%
Price/Unit
$599,375
Price/Gross SF
$427.25
Gross SF
11,223

Investment Highlights

  • Located In The Prestigious Baywood Community of San Mateo.
  • Legacy Asset | First Time Available To The Public For Purchase.
  • West of The El Camino Location Bordering Hillsborough.
  • Strong Unit Mix: (2) 2 Bdr 1 Bath, (4) 2 Bdr 2 Bath, (2) Studios.
  • Condo Quality Floor Plans W/ Dual Pane Windows.
  • Extremely Well-Maintained Pride of Ownership Property.

Investment Overview

146 Dartmouth Road is a highly rare and pride of ownership asset situated West of El Camino Real bordering Hillsborough in San Mateo, California. The subject apartment complex was built by the seller's in 1957 and has never been marketed for sale to the public until now. Located in the Baywood neighborhood,146 Dartmouth is situated seconds from Downtown San Mateo, the exclusive Hillsborough heights neighborhood, Caltrain and many other highly attractive locations.

The average medium household income within a 5-mile radius of the subject property is nearly $200,000. Moreover, the property features exceptionally large and well-built floor plans for both residents and landlords alike. 146 Dartmouth Road is comprised of four two-bedroom/two-bath, two two-bedroom/one-bath and two studios totaling eight apartments and 11,223 of rentable building square footage (per county records). In addition to this sites attractive unit mix, the property also accommodates a total of 16 parking spaces including but not limited to: carports, garages and open spaces all situated on the premises. 146 Dartmouth Road is also located in an excellent school district. The subject property is located within San Mateo-Foster City School district; however, it is nestled in the Baywood Elementary School (920 API) district zone which is a higher income zone compared to other properties located in San Mateo. Furthermore, the property also feeds into Borrel Middle School (772 API) located in the San Mateo-Foster City School district and Aragon High School (849 API) which is located in the San Mateo Union High School District.

San Mateo has seen tremendous growth in the last twenty years due to an exuberant amount of tech IPO's, prestigious universities, and a land mass that has created a restricted amount of new developments to support new households. San Francisco and Silicon Valley are the two highest income per capita regions in the United States. San Mateo is nestled between them, along with its proximity to San Francisco International Airport, Northern California's most important airport. Because of all of these attractive attributes and many more unmentioned, 146 Dartmouth Rd will continue to see high rental demand, rent growth, appreciation, and a strong tenant profile for many years to come.

Exclusively Listed By

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