100-106 North Bayshore Boulevard, SAN MATEO, CA 94401

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100-106 North Bayshore Boulevard, SAN MATEO, CA 94401

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Listed by: Nate Gustavson - Compass

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est.$9,450,000/month.

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beds. baths. 24,592 Sqft.

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Mortgage Broker

Ray Avanzino
Polaris Capital Partners
Ray@polariscappartners.com
(650) 576-6531
NMLS# 288504
Company NMLS# 01391664

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100-106 North Bayshore Boulevard, SAN MATEO, CA 94401

$9,450,000

Active

est.$9,450,000/month.

Start My Approval

beds baths 24,592 Sq.ft.

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Property details for 100-106 North Bayshore Boulevard, SAN MATEO, CA 94401

Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in additional RUBS income upon implementation.Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard.

Broker details: Compass

Listed by: Nate Gustavson
Co-listing Broker: Compass
Co-listing Agent: Cameron Foster