Knights Inn Apartment
For Sale
$9,450,000
100106 Bayshore Boulevard, San Mateo, CA 94401
38-unit apartment property with studio and 1-bedroom units, secured pool, and on-site laundry.
Property Size24,592 SF
Price / SF$384.27
Days on Market77
Property Features for 100106 Bayshore Boulevard
General Information
Standard status
Active
Size
24,592 SF
Property subtype
General Commercial
Building Details
Year Built
1960
Listing Agency:
(415) 874-5000
Listed By:
Compass
Source:
Xome
Added: May 21
Changed: Jul 10
Last Checked: Aug 5 at 5:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
Knights Inn Apartments is a 38-unit multifamily property built in 1960 and arranged across two buildings totaling approximately 24,592 square feet of gross building area. The unit mix includes thirty-four studio units of about 381 square feet and four one-bedroom, one-bath units of about 570 square feet. Ownership is supported by completed balcony rebuild work and an SB-721 compliant status, with a secured, fenced-in pool and on-site coin-operated laundry. Parking consists of 36 covered carports and four uncovered assigned spaces.
The property is located at 100-106 N. Bayshore Boulevard in San Mateo and sits on a 24,944 square-foot lot. Utilities are master metered for each building using separate gas and electric meters, which provides clear operational separation between the two structures.
For buyers and operators, the existing configuration supports straightforward tenancy across studios and one-bedroom units, with practical on-site amenities and covered parking. The property also presents an operational focus point: the gas and electric billing is currently set up without a Ratio Utility Billing System (RUBS), which the provided materials identify as an unutilized strategy. The pro forma included in the remarks estimates approximately $45,600 in additional RUBS income following implementation, and current rents are stated as averaging about $1,610 per month for studios and $2,085 per month for the one-bedroom units.
The property is located at 100-106 N. Bayshore Boulevard in San Mateo and sits on a 24,944 square-foot lot. Utilities are master metered for each building using separate gas and electric meters, which provides clear operational separation between the two structures.
For buyers and operators, the existing configuration supports straightforward tenancy across studios and one-bedroom units, with practical on-site amenities and covered parking. The property also presents an operational focus point: the gas and electric billing is currently set up without a Ratio Utility Billing System (RUBS), which the provided materials identify as an unutilized strategy. The pro forma included in the remarks estimates approximately $45,600 in additional RUBS income following implementation, and current rents are stated as averaging about $1,610 per month for studios and $2,085 per month for the one-bedroom units.
Key Highlights
- Knights Inn Apartments: 38‑unit multifamily property built in 1960 at 100‑106 N. Bayshore Boulevard, San Mateo.
- Unit mix includes 34 studio units (~381 SF) and 4 one‑bedroom/one‑bath units (~570 SF).
- Approximately 24,944 SF lot with about 24,592 SF gross building area across two (2) buildings.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.06M | $43.20 |
| − Vacancy | −$53.1k | −$2.16 |
| EGI | $1.01M | $41.04 |
| − OpEx | −$454.2k | −$18.47 |
| NOI | $555.1k | $22.57 |
24,592 SF · lease $43.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$7.93M
$6.94M – $9.25M
NOI $555,091 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.73M
$8.51M – $11.35M
NOI $680,864 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Explore this area
Business Placement
Demographics for 94401, CA
35,249
Population
13,798
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
11,371
Density / Sq Mi
$121,258
Median Household Income
$57,724
Median Earnings
$2,713
Median Rent
$1,123,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 38-unit apartment property with studio and 1-bedroom units, secured pool, and on-site laundry.
Where is this apartment building located?
The property is located at 100106 Bayshore Boulevard San Mateo, CA.
What is the asking price?
The asking price for this property is $9,450,000.
What are key features of this property?
This property features: Knights Inn Apartments: 38‑unit multifamily property built in 1960 at 100‑106 N. Bayshore Boulevard, San Mateo.; Unit mix includes 34 studio units (~381 SF) and 4 one‑bedroom/one‑bath units (~570 SF).; Approximately 24,944 SF lot with about 24,592 SF gross building area across two (2) buildings.
