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Listed by Ken Wu • Compass
$ 4,700,000
Est. payment /mo
Open 1/26 12PM-1:30PM
3223 Glendora Dr San Mateo, CA 94403
3 Beds
2 Baths
8,652 SqFt
Open House
Mon Jan 26, 12:00pm - 1:30pm
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 8,652 sqft
Price per Sqft $543
MLS Listing ID EB41121432
Bedrooms 3
Year Built 1964
Lot Size 0.267 Acres
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
3223 Glendora Drive is a well-maintained 9-unit apartment property located in a prime San Mateo neighborhood directly adjacent to the Laurelwood Shopping Center. The asset reflects true pride of ownership and offers a compelling blend of stability, unit size, and rental upside. The unit mix consists of seven spacious one-bedroom/one-bath units and two two-bedroom/one-bath units. The one-bedroom units range approximately 750-800 square feet, while the two-bedroom units are approximately 950 square feet-sizes that are well above typical market averages and highly attractive to long-term tenants. The property is very well maintained and features tuck-under parking with one enclosed garage space currently being leased as storage, providing valuable off street parking in a supply-constrained area. Tenants benefit from a quiet rear courtyard and backyard area, enhancing livability and tenant retention. Current rents are below market, offering approximately 24% upside through rent growth, positioning the property as an ideal opportunity for an investor seeking both immediate cash flow and long-term value appreciation in one of San Mateo's most desirable submarkets.
Location
State CA
County San Mateo
Area Laurelwood Etc.
Interior
Heating Forced Air
Cooling None
Flooring Carpet - Wall to Wall, Hardwood
Laundry In Laundry Room
Exterior
Exterior Feature Stucco
Garage Spaces 10.0
Building
Water Other
Others
Tax ID 041-263-290
Special Listing Condition New, Not Applicable
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