San Mateo Multifamily Investment
19 41st Place San Mateo, CA 94403
19 41st Place, San Mateo, CA, 94403
$1,899,000
For Sale
$1,899,000
Six-unit multifamily property in San Mateo with upgraded interiors.
Property Size2,447 SF
Lot Size0.18 Acres
Price / SF$776.05
Days on Market179
Property Features for 19 41st Place
General Information
- Standard status
- Active
- Size
- 2,447 SF
- Lot size
- 0.18 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing agency
COMPASS
(408) 427-8963
Listed by
THEODORE WONG
Source
Corcoran
Added: Jan 23 Updated: Jul 6 at 10:01AM Checked: Jul 21 at 5:35AM
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 COMPASS
Investment Insights
Based on property information with market context.
The property at 19 E 41st Place is a six-unit multifamily asset located in the San Mateo submarket. Constructed in 1957, the 2,447 square foot building was significantly renovated in 2014. The building, situated on a 7,699 square foot lot, features upgraded interiors, improved building systems, dual-pane windows, and refreshed exterior finishes. The property consists of six studio units. One unit includes a private yard, and another has a private patio. Tenants are responsible for all utilities through a Ratio Utility Billing System (RUBS). Additional features include an owner-owned on-site laundry machine and six dedicated carport parking spaces.
Key Highlights
- Desirable San Mateo location.
- Six spacious studio units, including one with a private yard and one with a private patio.
- Significantly renovated in 2014 with upgraded interiors and refreshed exterior finishes.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.7k | $43.20 |
| − Vacancy | −$5.3k | −$2.16 |
| EGI | $100.4k | $41.04 |
| − OpEx | −$45.2k | −$18.47 |
| NOI | $55.2k | $22.57 |
2,447 SF · lease $43.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$789.1K
$690.4K – $920.6K
NOI $55,234 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$967.8K
$846.9K – $1.13M
NOI $67,749 @ 7.0% cap · market cap 3.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Royalty Home Cleaning ...
Hardware & Home Improvement
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FAQs
What type of property is this?
Apartment building - Six-unit multifamily property in San Mateo with upgraded interiors.
Where is this apartment building located?
The property is located at 19 41st Place San Mateo, CA.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Desirable San Mateo location.; Six spacious studio units, including **one with a private yard and one with a private patio.**; Significantly renovated in 2014 with upgraded interiors and refreshed exterior finishes.
