Description
Magnify is pleased to present the opportunity to acquire 2830 Flores St, afully stabilized, turnkey 17-unit apartment buildingin the thriving city ofSan Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix oflarge, spacious units ideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with15 of 17 units renovatedto modern standards. With8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.
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0BEDS
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0.42ACRES
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0BATHS
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01/2 BATHS
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15,311SQFT
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$580$/SQFT
School Ratings & Info
Listed by Eric Katz of Magnify Real Estate: 408-317-0187.
Description
Magnify is pleased to present the opportunity to acquire 2830 Flores St, afully stabilized, turnkey 17-unit apartment buildingin the thriving city ofSan Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix oflarge, spacious units ideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with15 of 17 units renovatedto modern standards. With8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.
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