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Listed by Ismael Benhamida • Compass
$ 1,450,000
Est. payment | /mo
1,852 SqFt
$ 1,450,000
Est. payment | /mo
1,852 SqFt
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,852 sqft
Price per Sqft $782
MLS Listing ID ML82022562
HOA Y/N No
Year Built 1902
Lot Size 7,631 Sqft
Property Sub-Type Triplex
Source Datashare MLSListings
Property Description
*The adjacent triplex at 327 Grand Blvd and the fourplex at 315 Grand Blvd are also available for sale.* Rare single story triplex consisting of a stand alone cottage and a duplex building on a large 7,631 SqFt lot in one of the Bay Area's most coveted submarkets. Located in close proximity to Downtown Burlingame, Downtown San Mateo, SFO and other landmarks. An ADU consultancy's pre-feasibility study indicates that up to four Accessory Dwelling Units can be added which would drive substantial income and appreciation. Up to 75% LTV conventional financing. Opportunity for future owner-occupancy and a low cost alternative to a single family home. Two one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. All three units are large and have private yards and are occupied, providing steady rental income. Tremendous rental income upside upon unit turnover and renovation. There is a three vehicle car-port in the back of the property. Monthly rent: $7,300 (current), $10,000 (proforma). The strong rent growth, shortage of housing units, proximity to large Silicon Valley employers, and ADU potential make 321 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor. Offering memorandum, disclosures, and walkthrough video available.
Location
State CA
County San Mateo
Interior
Heating Forced Air, Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Flooring Hardwood, Tile
Fireplace No
Schools
School District San Mateo Union High, San Mateo-Foster City Elementary
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