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Sean Beattie

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

Listed by Jake Anthony • MJA Equity Investments, Inc., DRE#02059020

$14,950,000

Est. payment - /mo

3 Beds

3 Baths

21,345 SqFt

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Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 21,345 sqft

Price per Sqft $700

MLS Listing ID ML82065118

Bedrooms 3

Full Baths 3

Year Built 1959

Lot Size 0.530 Acres

Property Sub-Type Five or More Units

Property Description

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

Location

State CA

County San Mateo

Area Hayward Park

Building/Complex Name Park Laurel Apartments

Zoning R6

Rooms

Other Rooms Laundry Room, Storage, Other

Kitchen Cooktop - Gas, Countertop - Granite, Dishwasher, Exhaust Fan, Freezer, Garbage Disposal, Hood Over Range, Ice Maker, Island, Microwave, Oven - Gas, Pantry Cabinet, Refrigerator, Skylight, Trash Compactor

Interior

Heating Gas, Wall Furnace

Cooling None

Flooring Laminate, Vinyl / Linoleum

Laundry Washer/Dryer - Some Units

Exterior

Exterior Feature Balcony / Patio, BBQ Area, Courtyard, Deck , Fenced, Low Maintenance, Tennis Court

Parking Features Assigned Spaces, Covered Parking, Enclosed, Gate / Door Opener

Pool Pool - Heated, Steam Room or Sauna

Community Features Additional Storage, BBQ Area, Community Pool, Community Security Gate, Game Court (Outdoor), Playground, Tennis Court / Facility, Other

Utilities Available Individual Electric Meters, Individual Gas Meters

View Downtown, Park

Roof Type Flat / Low Pitch

Building

Foundation Concrete Slab

Sewer Sewer in Street

Water Private / Mutual, Public

Others

Restrictions Pets - Allowed,Pets - Cats Permitted,Pets - Dogs Permitted

Tax ID 034-200-060

Miscellaneous Skylight

Security Features Fire Alarm ,Secured Garage / Parking,Security Fence

Special Listing Condition Not Applicable

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Nearby School & Business

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Sean Beattie

+1(415) 716-7190

Broker Associate CA DRE# 01304100

710 Laurel AVE San Mateo, CA 94401

Sean Beattie

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby School & Business

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