4-Unit Apartment
New
For Sale
$2,000,000
128 Elm Street, San Carlos, CA 94070
Each residence includes a private garage and separate gas and electric meters.
Property Size6,534 SF
Price / SF$306.09
Days on Market5
Property Features for 128 Elm Street
General Information
Standard status
Active
Size
6,534 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Additional Details
Average Monthly Rent
$2,420
Tenant in Place
Yes
Building Details
Tenancy
Multi
Listing Agency:
Colliers International
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Oct 28
Changed: Oct 31
Last Checked: Oct 30 at 1:55PM
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 Colliers International
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Investment Insights
Based on property information with market context.
This four-residence apartment property has a consistent mix of one-bedroom, one-bathroom homes. Each unit comes with its own garage, and gas and electricity are separately metered. All four apartments are occupied under month-to-month tenancies.
The property is about half a mile from downtown San Carlos and the Caltrain station. Laurel Street’s shops and restaurants are within walking distance, while El Camino Real is less than half a mile away and U.S. 101 is approximately one mile away. The San Carlos site has a Walk Score of 85. Natera’s San Carlos campus is about one mile away, and Oracle’s Redwood Shores campus is approximately two miles away.
The property is about half a mile from downtown San Carlos and the Caltrain station. Laurel Street’s shops and restaurants are within walking distance, while El Camino Real is less than half a mile away and U.S. 101 is approximately one mile away. The San Carlos site has a Walk Score of 85. Natera’s San Carlos campus is about one mile away, and Oracle’s Redwood Shores campus is approximately two miles away.
Key Highlights
- Four one‑bedroom, one‑bathroom units
- Private garage for each apartment
- Gas and electricity separately metered by unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$177,836
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,556,720
$3.6M
Cap Rate 7%
$2,540,514
$2.5M
Cap Rate 9%
$1,975,956
$2.0M
Market Conditions
NOI Build-Up for 6,534 SF
Gross rent
$341.1K $52.20/SF
− Vacancy
−$17.7K −$2.71/SF
EGI
$323.3K $49.49/SF
− OpEx
−$145.5K −$22.27/SF
NOI
$177.8K $27.22/SF
Area
San Mateo County, CA
Vacancy
5.20%
Lease Rate
$52.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,556,720
Cap Rate 7%
$2,540,514
Cap Rate 9%
$1,975,956
Alternative Uses
Best Use
Multifamily LT 5
$2.71M
$2.37M – $3.16M
NOI $189,877 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,836 @ 7.0% cap · market cap 8.89%
Theoretical Best
Warehouse
$5.19M
$4.54M – $6.06M
NOI $363,302 @ 7.0% cap · market cap 18.17%
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
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,312
Businesses Nearby
Explore this area
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 - Each residence includes a private garage and separate gas and electric meters.
Where is this quadplex located?
The property is located at 128 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 one‑bedroom, one‑bathroom units; Private garage for each apartment; Gas and electricity separately metered by unit
