San Mateo Multifamily Investment
For Sale
$5,500,000
1101 Tilton Avenue, San Mateo, CA 94401
Well-maintained 12-unit apartment building in desirable San Mateo location.
Property Size7,756 SF
Price / SF$709.13
Days on Market450
Property Features for 1101 Tilton Avenue
General Information
Standard status
Active
Size
7,756 SF
Building Details
Year Built
1954
Listing Agency:
KELLER WILLIAMS PALO ALTO
Listed By:
SABRINA WEIDNER
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Aug 23 at 2:25AM
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 KELLER WILLIAMS PALO ALTO
Investment Insights
Based on property information with market context.
The property at 1101 Tilton Avenue is a well-maintained 12-unit apartment building located in the North Central neighborhood of San Mateo. The property contains only one-bedroom floor plans. The units are currently leased between $2,450 and $2,850 per month, providing strong rental income. The property's size is 7,756 square feet. The location provides convenient access to shopping, dining, and entertainment in downtown San Mateo. Highway 101 and Route 92 are nearby, offering ease of access for commuters. This property represents an investment opportunity for those seeking an income-generating asset in a desirable location.
Key Highlights
- Strong rental income with units currently leased between $2,450 and $2,850 per month.
- Highly desirable North Central San Mateo neighborhood location.
- Well‑maintained 12‑unit property.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$175,068
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,501,360
$3.5M
Cap Rate 7%
$2,500,971
$2.5M
Cap Rate 9%
$1,945,200
$1.9M
Market Conditions
NOI Build-Up for 7,756 SF
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.
Gross rent
$335.1K $43.20/SF
− Vacancy
−$16.8K −$2.16/SF
EGI
$318.3K $41.04/SF
− OpEx
−$143.2K −$18.47/SF
NOI
$175.1K $22.57/SF
Area
San Mateo, CA
Vacancy
5.00%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,501,360
Cap Rate 7%
$2,500,971
Cap Rate 9%
$1,945,200
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
NOI $175,068 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,736 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,287
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 12-unit apartment building in desirable San Mateo location.
Where is this apartment building located?
The property is located at 1101 Tilton Avenue San Mateo, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Strong rental income with units currently leased between $2,450 and $2,850 per month.; Highly desirable North Central San Mateo neighborhood location.; Well‑maintained 12‑unit property.
