4-Unit Apartment
New
For Sale
$2,000,000
112 Elm Street, San Carlos, CA 94070
ResidentialIncome, SanCarlos, CA
Property Size4,352 SF
Lot Size0.15 Acres
Price / SF$459.56
Days on Market6
Property Features for 112 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-59 Multi-Family - Medi
Parking
2
Elementary school
SanCarlosElementary
High school
SequoiaUnionHigh
Elementary school district
SanCarlosElementary
High school district
SequoiaUnionHigh
Subdivision
CordesEtc
Standard status
Active
APN
045-312-060
Size
4,352 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
0
Utilities
Sewer type
Private Sewer
Water source
Public
Amenities
washer/dryer hookups
private back yards
Building Details
Year built
1947
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Compass
(650) 462-1111
Listed By:
Juan De Leon · License #01383120
(415) 305-6275
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 28 at 2:06AM
MLS# ML82065619
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit apartment property contains approximately 4,352 square feet on a 6,400-square-foot parcel. Built in 1947, the building has garage parking for each unit and washer and dryer hookups. Two residences include private back yards.
The property is at 112 Elm Street in San Carlos, within walking distance of downtown. It is zoned RM-59 Multi-Family - Medi, with public water and private sewer service. The roof is composition.
The property is at 112 Elm Street in San Carlos, within walking distance of downtown. It is zoned RM-59 Multi-Family - Medi, with public water and private sewer service. The roof is composition.
Key Highlights
- Four apartments in approximately 4,352 square feet
- 6,400‑square‑foot parcel in San Carlos
- Garage parking provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,468
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,529,360
$2.5M
Cap Rate 7%
$1,806,686
$1.8M
Cap Rate 9%
$1,405,200
$1.4M
Market Conditions
NOI Build-Up for 4,352 SF
Gross rent
$193.2K $44.40/SF
− Vacancy
−$12.6K −$2.89/SF
EGI
$180.7K $41.51/SF
− OpEx
−$54.2K −$12.45/SF
NOI
$126.5K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,529,360
Cap Rate 7%
$1,806,686
Cap Rate 9%
$1,405,200
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,468 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,449 @ 7.0% cap · market cap 5.92%
Theoretical Best
Warehouse
$3.46M
$3.02M – $4.03M
NOI $241,979 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,634
Businesses Nearby
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Business Placement
Demographics for 94070, CA
31,585
Population
11,958
Households
2.6
Avg Household Size
42
Median Age
68%
College-Educated
97%
High-School Grad
6.1 sq mi
ZIP Area
5,178
Density / Sq Mi
$235,373
Median Household Income
$118,194
Median Earnings
$2,802
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Individual garages serve each residence, with laundry hookups and private outdoor areas in two units.
Where is this quadplex located?
The property is located at 112 Elm Street San Carlos, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Four apartments in approximately 4,352 square feet; 6,400‑square‑foot parcel in San Carlos; Garage parking provided for each unit
