710 Laurel Ave, San Mateo, CA 94401
- $14,950,000
- 21,345
- SqFt
- List Price
- $14,950,000
- MLS#
- 82065118
- Property Type
- Multifamily
- Sqft. of Residence
- 21,345
- Lot Size
- 23,087
- Region
- Hayward Park
- Status
- ACTIVE
- County
- San Mateo
- Acres
- 0.53
- Year Built
- 1959
- Parking Spaces
- 26
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
- Foundation
- Concrete, Slab
- Living Area
- 21,345
- Lot Size
- 23,087
- Possession
- Close Of Escrow
- Region
- Hayward Park
- Roof
- Flat
- View
- Downtown, Park/Greenbelt
- Zoning
- R6
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Listing courtesy of MJA Equity Investments, Inc..
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