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Listed by Ismael Benhamida • Compass
$1,950,000
Est. payment /mo
2,410 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,410 sqft
Price per Sqft $809
MLS Listing ID ML82015184
HOA Y/N No
Year Built 1927
Lot Size 7,591 Sqft
Property Sub-Type Quadruplex
Source Datashare MLSListings
Property Description
Rare turnkey tutor style fourplex situated on a large 7,591 SqFt lot in one of the Bay Area's most coveted submarkets. Opportunity for owner-occupancy with up to 80% LTV conventional financing. Low cost alternative to a single family home. Three studio units and one 2-bed/1-bath unit. Two vacant fully remodeled units - a rear cottage studio and a 2-Bed/1-Bath flat - both with in-unit laundry. Substantial capital improvements completed including new electrical wiring and sub-panels, copper plumbing throughout, roof (2017), fencing, asphalt and concrete, and three units completely remodeled with high-end finishes. Two studios are rented, one of which is fully remodeled. An ADU consultancy's pre-feasibility study indicates that up to 5 ADU units can be added which would drive substantial income and appreciation. There are 2 private 1-car garages and 5 uncovered parking spaces. Monthly rent: $9,965 (scheduled), $10,885 (proforma). The strong rent growth, shortage of housing units, proximity to large Silicon Valley employers, and ADU potential make 315 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor. Offering memorandum, disclosures, walkthrough video, and Matterport tours available.
Location
State CA
County San Mateo
Interior
Heating Forced Air
Cooling Ceiling Fan(s)
Flooring Tile
Fireplace No
Schools
School District San Mateo Union High, San Mateo-Foster City Elementary
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