315 Grand BlvdSan Mateo, CA

Ismael Benhamida

Wharton MBA, Senior Vice President Investments
Compass
408.373.6195
DRE#: 01722847

Hanna John Azar

Broker-Associate
Compass Commercial
415.875.0177
DRE#: 02005698

315 Grand Blvd
San Mateo, CA 94401

Rare turnkey tutor style fourplex situated on a large 7,591 SqFt lot in one of the Bay Area's most coveted submarkets. Opportunity for owner-occupancy with up to 80% LTV conventional financing. Low cost alternative to a single family home. Three studio units and one 2-bed/1-bath unit. Two vacant fully remodeled units - a rear cottage studio and a 2-Bed/1-Bath flat - both with in-unit laundry. Substantial capital improvements completed including new electrical wiring and sub-panels, copper plumbing throughout, roof (2017), fencing, asphalt and concrete, and three units completely remodeled with high-end finishes. Two studios are rented, one of which is fully remodeled. An ADU consultancy's pre-feasibility study indicates that up to 5 ADU units can be added which would drive substantial income and appreciation. There are 2 private 1-car garages and 5 uncovered parking spaces. Monthly rent: $9,965 (scheduled), $10,885 (proforma). The strong rent growth, shortage of housing units, proximity to large Silicon Valley employers, and ADU potential make 315 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor. Offering memorandum, disclosures, walkthrough video, and Matterport tours available.

This Home's Features

  • List Price
    $1,950,000
  • MLS Number
    ML82014446
  • Year Built
    1927
  • Lot Size
    7500

Cinematic Video

3D Floor Plan

Presented By

Ismael Benhamida

Wharton MBA, Senior Vice President Investments
DRE#: 01722847
Compass
361 Lytton Avenue, Suite 200
Palo Alto, CA 94301

Hanna John Azar

Broker-Associate
DRE#: 02005698
Compass Commercial
724 Battery Street
San Francisco, CA 94111
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