$8,900,000
San Mateo, CA 94401
1960
Year Built
San Mateo
County
CommercialSale
Property Type
GROSS RENTS INCREASED (10-1-26) FROM $63,000/YEAR TO $68,000/YEAR --- PRICE REDUCTION OF $550,000!! -- The Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS). Current rents averaging approximately $1,675/month for studios and $2,195/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apts at 420 N. Bayshore Boulevard.
$47,370/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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