Hanna John Azar

Melendy Dr, San Carlos

$8,850,000 Melendy Dr, San Carlos, CA 94070

Compass Commercial is pleased to present the rare opportunity to acquire an 18-unit townhouse style apartment complex nestled in the hills of San Carlos. Each unit features two bedrooms and one and half bathrooms. All of the units benefit from large balcony decks, some of which boast views of San Francisco and surrounding cities. The townhouse style apartment is split with a half bathroom, living room/kitchen downstairs and bedrooms and the full bathroom upstairs.

The building has been well kept throughout the ownership's tenure. Half of the units feature north facing views, some of which have downtown San Francisco views. The other half feature street side views. The property offers additional upside through unit repositioning and building modernizations such as adding in-unit washer/dryers, keyless entry, etc. The property features 27 parking spaces on the ground floor and two coin operated laundry rooms.

Investment Highlights

  • First time on the market in over 40 Years.

  • Rare opportunity to acquire a large apartment complex in the coveted city of San Carlos in San Mateo County

  • Units have stunning views

  • Approximately 60% upside upon unit turnover

  • Pro forma cap rate of 4.9% GRM of 12.94

  • 27 secure parking spaces

  • Excellent San Carlos Public School Districts

  • For Sale
    Status

Features & Amenities

Area & Lot

  • Status: For Sale
  • Type: Multi-Family

Financial

  • Sales Price: $8,850,000

Melendy Dr, San Carlos

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.
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