San Mateo Multifamily Investment
For Sale
$1,899,000
19 41st Place, San Mateo, CA 94403
Six-unit multifamily property in San Mateo with upgraded interiors.
Property Size2,447 SF
Lot Size0.18 Acres
Price / SF$776.05
Days on Market191
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 · License #02016737
Source:
Corcoran
Added: Jan 23
Changed: Jul 6
Last Checked: Aug 2 at 8:08AM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,702
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
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.
