Residential Income Property with
For Sale
$2,148,000
1850 El Parque Court, San Mateo, CA 94403
1964-built residential income property with carport and off-site parking features in San Mateo County.
Property Size4,799 SF
Price / SF$447.59
Days on Market172
Property Features for 1850 El Parque Court
General Information
Standard status
Active
Size
4,799 SF
Property subtype
Residential Income
Zoning
RM
Taxes and HOA fees
Annual Taxes
$12,000
Amenities
Central
Carport, Off Site
Building Details
Building Size
4,799 SF
Year Built
1964
Buildings
1
Stories
2
Listed By:
Nonnie Dinges
(650) 218-3353
Source:
Evrealestate
Added: Mar 18
Changed: Aug 30
Last Checked: Aug 31 at 3:09PM
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 Nonnie Dinges
Investment Insights
Based on property information with market context.
This residential income property was built in 1964 and includes a carport along with off-site parking features. The property is located on El Parque Court in San Mateo, within San Mateo County.
Access is provided from E Hillsdale Boulevard via Norfolk Street, with Marina Market along the approach and Los Prados identified as the cross street.
Access is provided from E Hillsdale Boulevard via Norfolk Street, with Marina Market along the approach and Los Prados identified as the cross street.
Key Highlights
- Residential income property in San Mateo County
- Built in 1964
- Carport included
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
$108,323
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
5.04%
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%
$2,166,460
$2.2M
Cap Rate 7%
$1,547,471
$1.5M
Cap Rate 9%
$1,203,589
$1.2M
Market Conditions
NOI Build-Up for 4,799 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
$207.3K $43.20/SF
− Vacancy
−$10.4K −$2.16/SF
EGI
$197.0K $41.04/SF
− OpEx
−$88.6K −$18.47/SF
NOI
$108.3K $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%
$2,166,460
Cap Rate 7%
$1,547,471
Cap Rate 9%
$1,203,589
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.81M
NOI $108,323 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,867 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
Explore this area
Business Placement
Demographics for 94403, CA
45,057
Population
17,682
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
8,046
Density / Sq Mi
$179,825
Median Household Income
$93,542
Median Earnings
$3,273
Median Rent
$1,725,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1964-built residential income property with carport and off-site parking features in San Mateo County.
Where is this residential income property located?
The property is located at 1850 El Parque Court San Mateo, CA.
What is the asking price?
The asking price for this property is $2,148,000.
What are key features of this property?
This property features: Residential income property in San Mateo County; Built in 1964; Carport included
