265273 88th Street
Daly City, CA 94015
0.98 acres | #ML82013733
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.
Property Details
- Property SubtypeCommercialSale
- Original List Price$26,000,000
- MLS #ML82013733
- MLS #ML82013733
- Elementary SchoolJefferson
- CountySan Mateo
- Property TypePurchase
- Taxes Annual$298,844
- Cost26000000
- Acres0.9757
- Utility SourcePublic
- School DistrictOther
- Middle SchoolOther
- High SchoolOther
- Year Built1966
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Nate Gustavson (#ML5077268)
Listing Office: Compass (#ML5009331)
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