710 Laurel Avenue, San Mateo, CA 94401
- $14,950,000
- List Price
- $14,950,000
- Status
- ACTIVE
- MLS#
- ML82065118
- Year Built
- 1959
- Lot Size
- 23,087
- Acres
- 0.53
- Days on Market
- 2
- Property Type
- Commercial
Property Description
MNM Realty Group is pleased to offer 14 tenant-in-common (TIC) positions in Park Laurel Apartments. Together they make up a 64.75% undivided interest in a renovated 26-unit apartment community at 710 Laurel Avenue, bordering Central Park in downtown San Mateo. Individual positions range from 0.70% to 32.00% and may be bought on their own or combined. Each is priced pro rata to a $14,950,000 property valuation ($575,000 per unit). The property has received more than $1.3 million in capital improvements, including a seismic retrofit. Eighteen of the 26 units have been fully renovated with in-unit washer/dryers, new kitchens and modern baths. Amenities include a heated pool, a rare feature in the area, and the property has a Walk Score of 97. It sits about 2 miles from Burlingame Avenue and 10 minutes from SFO. TIC positions offer investors a fractional entry into a supply-constrained Peninsula multifamily asset with remaining value-add upside as market rents continue increasing
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Additional Information
- Taxes
- $168,000
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Flat
- Water
- Public
- School District
- Other
- Attached Structure
- Detached
- Gross Scheduled Income
- $960,900
- School District
- Other
Listing courtesy of Listing Agent: Jake Anthony (jake@mjaequity.com) from Listing Office: MJA Equity Investments, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.