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Listed by Nate Gustavson • Compass
$26,000,000
Est. payment /mo
91,970 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 91,970 sqft
Price per Sqft $282
MLS Listing ID ML82013733
HOA Y/N No
Year Built 1966
Lot Size 0.976 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
265-273 88th Street is a rare eighty (80) unit multifamily portfolio comprising five (5) extremely well-maintained apartment buildings situated on two parcels in the heart of the highly desirable Broadmoor Neighborhood of Daly City. - Offered at $26M, this stabilized asset features a unit mix of (6) 3-Br/2-Ba, (6) 2-Br/2-Ba, (4) 2-Br/1-Ba, (62) 1-Br/1-Ba, and (2) Studio units, totaling over 91,000 square feet of gross building area. With a favorable price-per-unit of $325,000 and a price-per-square-foot of $283, this opportunity has strong in-place cash flow (5.23% current cap rate & 11.33 current GRM) -- 265 88th St (4-units), 273 88th St (20-units), 1145 Edgeworth (18-units), 1157 Edgeworth (18-units), 374 89th St (20-units). SIGNIFICANT CAPITAL IMPROVEMENTS have been completed, including voluntary seismic upgrade, updated windows across all buildings, upgraded main electrical panels (25'), deck re-coating and rail painting (25'), updated water heaters, bird proofing, and extensive interior unit updates, with most units having been updated in the past 5-7 years. All units are individually metered for gas and electric, and twelve (12) units offer central forced-air heating.
Location
State CA
County San Mateo
Interior
Heating Forced Air, Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
Exterior
View City Lights, Golf Course
Handicap Access Other
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