Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    Flores St San Mateo, CA 94403

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $8,888,000

    Turnkey 17-unit apartment building near Hillsdale Shopping Center.

    Lot size:
    0.42 Acres

    Property Features for Flores St

    General Information

    Lot size
    0.42 Acres

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Eric Katz
    Source: Elliman

    Listing Agent: Eric Katz

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    San Mateo Multifamily Investment Opportunity

    This is an opportunity to acquire a fully stabilized, turnkey 17-unit apartment building in San Mateo. Located steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a mix of spacious units. Constructed in 1961 and fully renovated in 2020-2021, the property consists of seven two-bedroom/one-bathroom units, eight one-bedroom/one-bath units, and two studios on an 18,499 square foot lot. Fifteen of the seventeen units have been renovated to modern standards. Investors can benefit from income and future growth potential. This is a low-vacancy, high-performing asset.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.3090457
    Latitude
    37.5458519

    Nearby Similar for Sale

    • $2,495,000
      3,607 SF

      San Mateo Fourplex Investment Opportunity

      Well-maintained fourplex in prime San Mateo location near top schools.
      444 Villa Ter, San Mateo, CA 94401
      View Details
    • New
      $1,798,888
      3,328 SF

      San Mateo Duplex: Ideal Investment

      Spacious duplex in Bowie Estates, San Mateo, near downtown.
      229 N Humboldt St, San Mateo, CA 94401
      View Details
    • $1,998,888
      3,880 SF

      Historic San Mateo Triplex with Studio

      1907 triplex with bonus studio in central San Mateo.
      320 Villa Ter, San Mateo, CA 94401
      View Details
    • $5,700,000
      4,586 SF

      Remodeled Multi-Unit Investment Opportunity

      Twelve remodeled units in San Mateo with strong rental potential.
      735 N Amphlett Blvd, San Mateo, CA 94401
      View Details
    • $2,850,000
      4,586 SF

      Remodeled Multi-Unit Investment Opportunity

      Six remodeled units in San Mateo, ideal for investors.
      739 N Amphlett Blvd, San Mateo, CA 94401
      View Details
    • $355,000
      0.36 Acres

      Established Auto Repair Business For Sale

      Profitable auto repair shop serving San Mateo community for 20+ years.
      501 S Norfolk St, San Mateo, CA 94401
      View Details
    • $1,495,000

      San Mateo Duplex Near Caltrain

      Spacious duplex near downtown and Caltrain with private yards.
      305 Catalpa St, San Mateo, CA 94401
      View Details
    • $2,098,000

      San Mateo Triplex in Aragon

      Turn-key three-unit building in San Mateo's Aragon neighborhood.
      6 Avila Rd, San Mateo, CA 94402
      View Details
    • $2,495,000

      San Mateo Four-Unit Multifamily Property

      Well-maintained four-unit property in prime San Mateo location.
      444 Villa Ter, San Mateo, CA 94401
      View Details
    • $1,399,000

      San Mateo Multifamily Investment Opportunity

      Four-unit multifamily property in a desirable San Mateo location.
      245 Grand Blvd, San Mateo, CA 94401
      View Details
    • $1,675,000

      Updated Duplex in San Mateo

      Well-maintained duplex with updated units and income potential.
      1401-1403 Cary Ave, San Mateo, CA 94401
      View Details
    • $1,725,000
      2,870 SF

      Mixed-Use Building in Prime Location

      Fully leased mixed-use building in high-traffic San Mateo location.
      25Th Ave, San Mateo, CA 94403
      View Details

    FAQs

    What type of property is this?
    Apartment building - Turnkey 17-unit apartment building near Hillsdale Shopping Center.
    Where is this apartment building located?
    The property is located at Flores St San Mateo, CA.
    What is the asking price?
    The asking price for this property is $8,888,000.
    What are key features of this property?
    This property features: - Prime location: Steps from Hillsdale Shopping Center and Caltrain Station.; - Fully stabilized, turnkey 17-unit apartment building.; - Significant capital improvements: 15 of 17 units renovated to modern standards in 2020-2021.
    (877) 776-7718
    Request Owner's contact information
    Flores St San Mateo, CA 94403
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Flores St
    San Mateo, CA 94403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Flores St San Mateo, CA 94403
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Eric Katz
    (877) 776-7718
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.