$6,055,000
$6,485,000
6.6%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
11,816 SqFt
SOLD DATE : 08/25/2023
Key Details
Sold Price $6,055,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 11,816 sqft
Price per Sqft $512
MLS Listing ID ML81925753
Sold Date 08/25/23
Bedrooms 2
Full Baths 1
Year Built 1950
Lot Size 0.354 Acres
Property Description
Prominently displayed amid Millbrae's most coveted row of multi-family residential buildings, 970 Magnolia Avenue boasts unparalleled access to the shops and restaurants of downtown Millbrae, as well as transportation and highly ranked schools. Behind the buildings stately facade are Twelve sizable and well appointed residential units, some of which have benefitted from recent upgrading... A fantastic opportunity to add a pride of ownership property to your portfolio! Here are some attractive elements of this offering: 12 Units (All are 2-BR, 1-BA), 6 Garage Parking Spaces,Ample Additional On-Street Parking, 11,816 SqFt Building (per Tax Records), 15,400 SqFt Parcel (per Tax Records), Built in 1950, Gross Rental Income: $362,913.48, 100% Occupied: Ten (10) tenants are currently month-to-month with two (2) tenants on existing leases.
Location
State CA
County San Mateo
Area Meadow Glen
Zoning R3
Rooms
Other Rooms Laundry Room, Storage
Interior
Heating Gas, Wall Furnace
Cooling None
Flooring Carpet, Concrete, Hardwood, Laminate, Vinyl / Linoleum
Laundry Coin Operated
Exterior
Exterior Feature Courtyard
Garage Assigned Spaces, Attached Garage, On Street
Garage Spaces 6.0
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Composition,Shingle
Building
Foundation Concrete Perimeter
Sewer Sewer - Public, Sewer Connected
Water Public
Others
Restrictions Other
Tax ID 021-362-120
Security Features None
Special Listing Condition Not Applicable
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Bought with Jose Chito Denoga • Jose Denoga, Broker