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Josh Gregorio

josh.gregoriorealestategroup@gmail.com +1(661) 447-5111

$ 26,000,000

Est. payment | -/mo

0.98 Acres Lot

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$ 26,000,000

Est. payment | -/mo

Save

0.98 Acres Lot

OPEN HOUSE

Mon Jul 21, 11:00am - 1:00pm

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82013733

HOA Y/N No

Year Built 1966

Annual Tax Amount $298,844

Lot Size 0.976 Acres

Property Description

265-273 88th Street is a rare eighty (80) unit multifamily portfolio comprising five (5) extremely well-maintained apartment buildings situated on two parcels in the heart of the highly desirable Broadmoor Neighborhood of Daly City. - Offered at $26M, this stabilized asset features a unit mix of (6) 3-Br/2-Ba, (6) 2-Br/2-Ba, (4) 2-Br/1-Ba, (62) 1-Br/1-Ba, and (2) Studio units, totaling over 91,000± square feet of gross building area. With a favorable price-per-unit of $325,000 and a price-per-square-foot of $283, this opportunity has strong in-place cash flow (5.23% current cap rate & 11.33 current GRM) -- 265 88th St (4-units), 273 88th St (20-units), 1145 Edgeworth (18-units), 1157 Edgeworth (18-units), 374 89th St (20-units). SIGNIFICANT CAPITAL IMPROVEMENTS have been completed, including voluntary seismic upgrade, updated windows across all buildings, upgraded main electrical panels (25'), deck re-coating and rail painting (25'), updated water heaters, bird proofing, and extensive interior unit updates, with most units having been updated in the past 5-7 years. All units are individually metered for gas and electric, and twelve (12) units offer central forced-air heating.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning SC(C-0)

Interior

Heating Central, Wall Furnace

Cooling None

Fireplace No

Exterior

Roof Type Tar/Gravel

Total Parking Spaces 4

Building

Water Public

Schools

Elementary Schools Jefferson

Middle Schools Other

High Schools Other

School District Other

Others

Tax ID 006197120

Special Listing Condition Standard

Listed by Nate Gustavson Compass

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 447-5111

josh.gregoriorealestategroup@gmail.com

3400 Calloway Dr Suite 700, Bakersfield, California, 93312, USA

265273 88th ST Daly City, CA 94015

Josh Gregorio

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Schools

Others

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265273 88th ST