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Listed by Nate Gustavson • Compass
$ 2,500,000
Est. payment /mo
Pending
693 San Bruno Avenue Brisbane, CA 94005
6,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,300 sqft
Price per Sqft $396
MLS Listing ID ML82031813
HOA Y/N No
Year Built 1964
Lot Size 6,186 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Excellent opportunity to acquire a well-maintained and partially renovated 7-unit multifamily property in the heart of Brisbane, known as the City of Stars. Built in 1964, this apartment complex consists of (6) one-bedroom/one-bath units and (1) two-level loft-style one-bedroom/one-bath unit, totaling approximately 6,300 sqft. The building has undergone significant capital improvements including General Electric breakers, solar installation (2020 - no PG&E bill), new thermal foam roof (2020), and a new electric hot water system. Four (4) units have been FULLY REMODELED, and SB-721 report has been recently completed. - Current ownership has maintained strong operations with an annual NOI of approximately $152,000, a 6.10% Cap Rate, and a 12.12 GRM based on in-place income. On-site laundry includes two coin-operated washers and two dryers for additional income. Centrally located with easy access to Highway 101, San Francisco, Silicon Valley, and Serramonte Shopping Center, this property offers a compelling blend of stable cash flow, long-term appreciation, and future upside through continued renovations and rent growth. Some of the photos in this listing have been digitally altered.
Location
State CA
County San Mateo
Interior
Heating Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Fireplace No
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
Exterior
View Hills, Mountain(s)
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