$14,950,000
FOR SALEActive710 Laurel Avenue
San Mateo CA 94401
21,345
SF
Commercial
Type
1959
Built
$700/SF
Cost/SF
Listing Agent
Michael J Anthony
DRE #: 00819426
Brokerage: MJA Equity Investments, Inc.
Location Analysis
About This Property
MNM Realty Group is pleased to offer 14 tenant-in-common (TIC) positions in Park Laurel Apartments. Together they make up a 64.75% undivided interest in a renovated 26-unit apartment community at 710 Laurel Avenue, bordering Central Park in downtown San Mateo. Individual positions range from 0.70% to 32.00% and may be bought on their own or combined. Each is priced pro rata to a $14,950,000 property valuation ($575,000 per unit). The property has received more than $1.3 million in capital improvements, including a seismic retrofit. Eighteen of the 26 units have been fully renovated with in-unit washer/dryers, new kitchens and modern baths. Amenities include a heated pool, a rare feature in the area, and the property has a Walk Score of 97. It sits about 2 miles from Burlingame Avenue and 10 minutes from SFO. TIC positions offer investors a fractional entry into a supply-constrained Peninsula multifamily asset with remaining value-add upside as market rents continue increasing
Property Information
Property Overview
Commercial
Property Type
Active
Status
R6
Zoning
0.53 acres
Lot Size
21,345 SF
Square Footage
$700.40/SF
Price per SF
$168,000
Annual Tax
1,959
Year Built
Property Highlights
N/A Property
Prime Location with High Visibility
Location Analysis
Building Details
Zoning & Use
Utilities & Systems
Investment Metrics
Data not available.
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CRMLS
MLS# ML82065118
Listed:
Nalren refreshed:
Last updated
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Listed by: MJA Equity Investments, Inc.
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Advertising Broker: Nalren Corp (CA DRE #02423715)
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Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.