505 Cypress Ave - Apartments FOR SALE


South San Francisco, CA 94080- Downtown South San Francisco
$7,950,000 USD
408-966-5919
505 Cypress Ave, South San Francisco, CA for Sale
$7,950,000 USD
Apartments - FOR SALE
1/13
null | 4.48% Cap Rate

505 Cypress Ave
South San Francisco, CA 94080
Downtown South San Francisco


HIGHLIGHTS

  • Rare Investment Opportunity to Purchase a 45 Unit SRO Hotel 100% Leased to the County of San Mateo
  • This Project is a Collaboration Between the City of South San Francisco, Telecare Corporation and Behavioral Health and Recovery Services
  • 10 Year Net Lease (Except for Fire Insurance & Real Property Taxes), which Commenced on March 1st, 2022, and Expires on February 28th, 2032
  • 3.50% Annual Rent Increases
  • 12,587 SF Building with 45 SRO Units on a 7,680 SF Lot
  • The Property is Located on Cypress Ave off Airport Blvd and Lux Ave, only 4.6 Miles Away from San Francisco International Airport

OVERVIEW

- Rare Investment Opportunity - 45 Unit Single Room Occupancy Hotel (SRO) Leased to the County of San Mateo. - This Project is a Collaboration Between the City of South San Francisco, Telecare Corporation and Behavioral Health and Recovery Services, Aims to Improve the Quality of Housing for 45 Adults Living in this SRO Hotel. - 10 Year Net Lease (Except for Fire Insurance & Real Property Taxes), which Commenced on March 1st, 2022, and Expires on February 28th, 2032. - 3.50% Annual Rent Increases. - 12,587 SF Building with 45 SRO Units on a 7,680 SF Lot. - Built in 1917. - Located in the DRC – Downtown Residential Core Zoning Designation. - The Property is Located on Cypress Ave off Airport Blvd and Lux Ave, only 4.6 Miles Away from San Francisco International Airport.

FOR SALE DETAILS

PRICE

$7,950,000 USD

PRICE/SF

$311 USD /SF

# OF UNITS

45

PRICE/UNIT

$176,667

CAP RATE

4.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LEASED TO COUNTY OF SAN MATEO - 45 UNIT SRO

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1917

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,680 SF

ZONING

C3

APN/PARCEL ID

012-175-150

ASK ABOUT THIS PROPERTY

David TaxinMeacham OppenheimerMore Info
408-966-5919

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David TaxinMeacham OppenheimerMore Info
408-966-5919

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