Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1504 Claremont St San Mateo, CA 94402

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,980,000

    8-unit apartment community in San Mateo, near downtown and transportation.

    Property size:
    5,911 SF

    Property Features for 1504 Claremont St

    General Information

    Standard status
    Active
    Size
    5,911 SF

    Building Details

    Year built
    1959

    We can help!

    Listing Contact
    Adam S. Levin
    Source: Corcoran

    Listing Agency: MARCUS & MILLICHAP Listing Agent: Adam S. Levin

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

    Learn more

    Overview

    San Mateo Multifamily Investment Opportunity

    This 8-unit apartment community is located in San Mateo, California. Constructed in 1959, the property has a gross building area of approximately 5,911 square feet and is situated on a 10,638 square foot parcel. The building features one-bedroom floor plans. San Mateo is located between San Francisco and San Jose, offering a business and retail environment, including North El Camino Real, Hillsdale Shopping Center, and San Mateo Medical Center. The property is located within walking distance of Downtown San Mateo and is close to major transportation corridors, including U.S. Route 101, California State Route 92, and the San Mateo Caltrain Station, providing access to employers like Google, Facebook, Stanford, Box Inc., Visa, and Sony. The property's location near employers, transportation, shopping, dining, and entertainment makes it an attractive investment.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.3113154
    Latitude
    37.5574737

    Nearby Similar for Sale

    • $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
    • $2,148,000
      4,799 SF

      Turnkey Multifamily Property in San Mateo

      Four-unit property in a desirable Silicon Valley location.
      1850 El Parque Ct, San Mateo, CA 94403
      View Details
    • New
      $1,599,000
      2,097 SF

      Updated Duplex in Sunnybrae

      Updated duplex in up-and-coming San Mateo neighborhood.
      1028 S Idaho St, San Mateo, CA 94402
      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
    • $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
    • $1,599,000
      2,317 SF

      Remodeled Mixed-Use San Mateo Property

      Versatile live-work opportunity in central Peninsula location.
      869 Woodside Way, San Mateo, CA 94401
      View Details
    • $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
      $1,698,000
      2,490 SF

      San Mateo Income Property

      Well-maintained duplex with additional unit in prime location.
      119 E Poplar Ave, San Mateo, CA 94401
      View Details
    • $1,688,000
      2,137 SF

      San Mateo Duplex Investment Opportunity

      Well-maintained duplex with value-add potential in a desirable location.
      1931 Palm Ave, San Mateo, CA 94403
      View Details
    • $1,398,000
      1,960 SF

      San Mateo Duplex Opportunity

      Rare duplex in prime San Mateo location with income potential.
      115 N Kingston St, San Mateo, CA 94401
      View Details
    • $2,100,000
      3,238 SF

      San Mateo Retail Investment Opportunity

      Retail space leased to national veterinary network near El Camino.
      15 37Th Ave, San Mateo, CA 94403
      View Details
    • $1,688,000
      2,137 SF

      San Mateo Duplex Investment Opportunity

      Well-maintained duplex with value-add potential in a desirable location.
      1927 Palm Ave, San Mateo, CA 94403
      View Details

    FAQs

    What type of property is this?
    Apartment building - 8-unit apartment community in San Mateo, near downtown and transportation.
    Where is this apartment building located?
    The property is located at 1504 Claremont St San Mateo, CA.
    What is the asking price?
    The asking price for this property is $2,980,000.
    What are key features of this property?
    This property features: - Prime location in San Mateo, strategically located between San Francisco and San Jose.; - Walking distance (1 mile) to Downtown San Mateo's diverse retail, dining, and entertainment options.; - Close proximity to major transportation corridors: U.S. Route 101, California State Route 92, and the San Mateo Caltrain Station.
    (650) 391-1782
    Request Owner's contact information
    1504 Claremont St San Mateo, CA 94402
    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.
    1504 Claremont St
    San Mateo, CA 94402
    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
    1504 Claremont St San Mateo, CA 94402
    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
    Adam S. Levin
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!