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Listed by Keller Williams Thrive
$ 2,288,888
Est. payment /mo
New
840 El Camino Real Millbrae, CA 94030
4,410 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,410 sqft
Price per Sqft $519
MLS Listing ID ML82049968
HOA Y/N No
Year Built 1952
Lot Size 5,244 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Rare 6-unit multifamily investment opportunity in the heart of Millbrae. This well-maintained property features six oversized studio units, each approximately 700-750 SF, offering spacious floor plans rarely found in todays rental market. Fully occupied with strong in-place income, the property generates approximately $147,000 in annual gross rental income and nearly $90,000 in annual NOI, providing an attractive current cap rate of approximately 3.9%. Ideally located along El Camino Real, the property offers convenient access to BART, Caltrain, SFO, Highways 101 and 280, shopping, dining, and major Peninsula employment centers. Tenants pay their own PG&E, helping maintain low operating expenses and stable cash flow. One unit is currently rented below market value, presenting future upside potential through rental optimization. A desirable investment for multifamily investors and 1031 exchange buyers seeking stable income, long-term appreciation, and value-add potential in one of the Peninsulas most sought-after rental markets. Excellent commuter location with strong rental demand and limited multifamily inventory. Dont miss this rare opportunity to acquire a turnkey income-producing asset in a prime Millbrae location.
Location
State CA
County San Mateo
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Handicap Access Other
Building
Water Public
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