Listed by Compass, Ismael Benhamida, Hanna John Azar Listing Contact: 4083736195
Hanna John Azar
315 Grand Boulevard
$1,850,000
315 Grand Boulevard, SAN MATEO, CA 94401
Rare turnkey tutor style fourplex situated on a large 7,591 SqFt lot in one of the Bay Area's most coveted submarkets. Opportunity for owner-occupancy with up to 80% LTV conventional financing. Low cost alternative to a single family home. Three studio units and one 2-bed/1-bath unit. Two vacant fully remodeled units - a rear cottage studio and a 2-Bed/1-Bath flat - both with in-unit laundry. Substantial capital improvements completed including new electrical wiring and sub-panels, copper plumbing throughout, roof (2017), fencing, asphalt and concrete, and three units completely remodeled with high-end finishes. Two studios are rented, one of which is fully remodeled. An ADU consultancy's pre-feasibility study indicates that up to 5 ADU units can be added which would drive substantial income and appreciation. There are 2 private 1-car garages and 5 uncovered parking spaces. Monthly rent: $9,965 (scheduled), $10,885 (proforma). The strong rent growth, shortage of housing units, proximity to large Silicon Valley employers, and ADU potential make 315 Grand Boulevard an exceptional investment for both the cash flow and appreciation-minded investor. The adjacent triplexes at 321 Grand Blvd and 327 Grand Blvd are also available for sale.
Appliances: Cooktop, Oven, Disposal, Dishwasher, Exhaust Fan, Freezer, Microwave, Refrigerator, Electric Cooktop, Electric Oven, Range
Exterior & Building
Stories: 2
Garage Space: 2.0
Water Source: Public
Pool: None
Roof: Composition, Shingle
Parking: Off Street, Attached
Heat Type: Natural Gas, Forced Air
Air Conditioning: Ceiling Fan(s)
Sewer: Public Sewer
Substructure: Slab
Financial
Sales Price: $1,850,000
Real Estate Tax: $22,504/yr
Maintenance Fee: $2,000/mo
Zoning: N/A
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315 Grand Boulevard
Work With Hanna John
During his past experiences, Hanna John has gained particularly strong knowledge and hands-on experience in maneuvering complex multi-faceted value-add investments.