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Listed by Regina Zabarte • Hello Hello Bay Area
$ 2,400,000
Est. payment | /mo
4,428 SqFt
$ 2,400,000
Est. payment | /mo
4,428 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,428 sqft
Price per Sqft $542
MLS Listing ID ML82021454
HOA Y/N No
Year Built 1958
Lot Size 5,666 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Discover Your Easy Path to Wealth: 1950 Ivy St, San Mateo, CA. Tired of renting? Become a landlord overnight with this simple, ready-to-rent 6-unit apartment building in family-friendly San Mateo! Cozy units in a quiet neighborhood near parks, schools, and tech jobs. Tenants love it, and you'll love the steady checks. No fancy skills needed; just buy, collect rent, and relax. Priced at just $2.4M your smart start to financial freedom! Benefits for You Over the Next 5 Years (Buying at ~$2.4M) Passive Income Stream: Expect around $200,000+ yearly gross rent (based on San Mateo's average $3K-$3,600/month per unit). After basic costs, pocket $100,000 to $140,000 net annually over $500,000 in 5 years to cover bills or vacations! Property Value Growth: Bay Area homes like this could appreciate 2%-4% yearly (conservative forecast amid tech boom and low inventory). Your $2.4M investment might hit $2.7M$3M by 2030, adding $300K - $600K in equity without lifting a finger. Build Wealth Simply: Pay down a mortgage with tenant money, gain tax breaks on depreciation, and enjoy a secure asset in a hot market. No stock market risks. Just reliable real estate in a growing area near Silicon Valley jobs and great schools for long-term stability.
Location
State CA
County San Mateo
Interior
Heating Wall Furnace
Cooling Central Air
Flooring Hardwood, Laminate, Tile
Fireplace No
Window Features Double Pane Windows
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
Exterior
View City Lights
Handicap Access Other
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