REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.

In-PersonVirtual Tour

Tue

Jul

Wed

Jul

Thu

Jul

Rich Siaw

richard.e.siaw@gmail.com +1(415) 902-6945

Listed by Nate Gustavson • Compass

$ 26,000,000

Est. payment | -/mo

8 Beds

7 Baths

91,970 SqFt

Save

$ 26,000,000

Est. payment | -/mo

Save

8 Beds

7 Baths

91,970 SqFt

OPEN HOUSE

Wed Jul 16, 11:00am - 1:00pm

Mon Jul 21, 11:00am - 1:00pm

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 91,970 sqft

Price per Sqft $282

MLS Listing ID ML82013733

Bedrooms 8

Full Baths 7

Year Built 1966

Lot Size 0.976 Acres

Property Sub-Type Five or More Units

Property Description

265-273 88th Street is a rare eighty (80) unit multifamily portfolio comprising five (5) extremely well-maintained apartment buildings situated on two parcels in the heart of the highly desirable Broadmoor Neighborhood of Daly City. - Offered at $26M, this stabilized asset features a unit mix of (6) 3-Br/2-Ba, (6) 2-Br/2-Ba, (4) 2-Br/1-Ba, (62) 1-Br/1-Ba, and (2) Studio units, totaling over 91,000± square feet of gross building area. With a favorable price-per-unit of $325,000 and a price-per-square-foot of $283, this opportunity has strong in-place cash flow (5.23% current cap rate & 11.33 current GRM) -- 265 88th St (4-units), 273 88th St (20-units), 1145 Edgeworth (18-units), 1157 Edgeworth (18-units), 374 89th St (20-units). SIGNIFICANT CAPITAL IMPROVEMENTS have been completed, including voluntary seismic upgrade, updated windows across all buildings, upgraded main electrical panels (25'), deck re-coating and rail painting (25'), updated water heaters, bird proofing, and extensive interior unit updates, with most units having been updated in the past 5-7 years. All units are individually metered for gas and electric, and twelve (12) units offer central forced-air heating.

Location

State CA

County San Mateo

Area 'Original' Daly City

Zoning SC(C-0)

Rooms

Other Rooms Laundry Room, Storage

Kitchen Countertop - Granite, Dishwasher, Oven Range - Electric, Refrigerator

Interior

Heating Central Forced Air, Wall Furnace

Cooling None

Flooring Laminate

Laundry Coin Operated

Exterior

Exterior Feature Balcony / Patio

Parking Features Assigned Spaces, Covered Parking

Pool Pool - Fenced, Pool - In Ground

Community Features Community Pool, Trash Chute

Utilities Available Individual Electric Meters, Individual Gas Meters

View City, Golf Course

Roof Type Tar and Gravel

Building

Lot Description Grade - Gently Sloped, Grade - Mostly Level

Foundation Concrete Slab, Quake Bracing

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Restrictions None

Tax ID 006-197-120

Security Features Fire Alarm

Special Listing Condition Not Applicable

+1(415) 902-6945

richard.e.siaw@gmail.com

1205 Auto Park Way, Escondido, CA, 92029

265-273 88th ST Daly City, CA 94015