Description
BEST VALUE W/ MAJOR UPSIDE: Low Cost/Unit. Buyer Can Explore "MAJOR REMODEL" and Offer Tenants to Move Back After Remodel or Take Other Remodeled Units. PROVEN CASH PRODUCER! ALL OFFER WILL BE CONSIDERED. Convenient Location in South San Francisco: 15-min to Downtown SF, 17-min to Downtown San Mateo. Easy Access to Most SSF Biotech Employers. 5 Min to Genentech HQ. 3 Contiguous Parcels MUST BE PURCHASED TOGETHER: 21-Unit Apartment Property + 2 Single Family Homes. 1 Single Family Home (144 Gardiner Ave), 2 Owner-Occupied Units (Unit 6A & 7A) Can Be Delivered Vacant at COE. AVG PRICE/UNIT: $223,238/UNIT. AVERAGE PRICE/FOOT: $306/SF. Master Metered for Utilities (Water, Garbage, PG & E). Good Opportunity to Implement Ratio Utility Billing Systems (RUBS). Potential to Install Laundry Room On-Site to Generate Additional Income. Current CAP Rate: 3.07% / Current GRM: 15. Pro-Forma CAP Rate: 7.53% / Pro-Forma GRM: 9. Building SF: 15,317 SF / Lot Size: 7,500 SF
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