1401-1403 Cary Ave - Apartments FOR SALE


San Mateo, CA 94401- Shoreview
$1,850,000 USD
415-625-2159
1401-1403 Cary Ave, San Mateo, CA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/17
null | 3.42% Cap Rate

1401-1403 Cary Ave
San Mateo, CA 94401
Shoreview


HIGHLIGHTS

  • 3 Bedroom Unit is Renovated and Currently Vacant
  • Tenants pay all Utilities
  • Great San Mateo Location

OVERVIEW

1401-1403 Cary Avenue in San Mateo is a well-maintained duplex situated on a spacious .13 acre lot, offering an excellent investment or owner-occupant opportunity. Built in 1950, the property features two updated units: a vacant 3-bedroom, 1-bathroom unit and an occupied 2-bedroom, 1-bathroom unit generating $3,300 per month in rental income. Both units have been thoughtfully upgraded with modern kitchens and bathrooms, providing contemporary comfort while maintaining the charm of the original construction. Each living room is highlighted with 12-foot ceilings and traditional fireplaces. With tenants responsible for all expenses, this property presents a low-maintenance income-producing asset in a desirable location. The property is within walking distance to Shoreview Shopping Center, a bustling retail hub offering a variety of services and amenities. Anchored by Chavez Supermarket, the center includes tenants such as O'Reilly Auto Parts, Round Table Pizza, Subway, beauty salons, laundry facilities, and various restaurants. Located in the heart of San Mateo, this duplex benefits from its proximity to top-rated schools, vibrant dining, and endless recreational opportunities. The area is known for its charming neighborhoods, strong job market, and convenient access to major highways, including Highways 101, 92, and 280, making commutes to San Francisco, Silicon Valley, and beyond seamless. Nearby, residents can enjoy Central Park, Hillsdale Shopping Center, and the bustling downtown district, filled with boutique shops, restaurants, and entertainment. With its prime location and strong rental demand, 1401-1403 Cary Avenue is an excellent addition to any investor's portfolio or a perfect opportunity for an owner looking to offset mortgage costs with rental income.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$1,057 USD /SF

# OF UNITS

2

PRICE/UNIT

$925,000

CAP RATE

3.42%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

R2, City/San Mateo

APN/PARCEL ID

033-264-050

ASK ABOUT THIS PROPERTY

Sam RuncoMarcus & MillichapMore Info
415-625-2159

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Sam RuncoMarcus & MillichapMore Info
415-625-2159

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.