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Sean Beattie

sean@brivio.com +1(415) 716-7190

$26,000,000

Est. payment - /mo

0.98 Acres Lot

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Wed Jul 16, 11:00am - 1:00pm

Mon Jul 21, 11:00am - 1:00pm

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82013733

HOA Y/N No

Year Built 1966

Annual Tax Amount $298,844

Lot Size 0.976 Acres

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

Area 699 - Not Defined

Zoning SC(C-0)

Interior

Heating Central, Wall Furnace

Cooling None

Fireplace No

Exterior

Roof Type Tar/Gravel

Total Parking Spaces 4

Building

Water Public

Schools

Elementary Schools Jefferson

Middle Schools Other

High Schools Other

School District Other

Others

Tax ID 006197120

Special Listing Condition Standard

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Listed by Nate Gustavson Compass

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Sean Beattie

+1(415) 716-7190

Broker Associate | CA DRE# 01304100

Broker Associate CA DRE# 01304100

265273 88th ST Daly City, CA 94015

Sean Beattie

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Schools

Others

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