Quadplex with Private Outdoor
For Sale
$2,495,000
444 Villa TER, San Mateo, CA 94401
Four residences feature two bedrooms, one bath, and individual outdoor areas, with select parking and recent property improvements.
Property Size3,607 SF
Lot Size0.17 Acres
Days on Market69
Property Features for 444 Villa TER
General Information
Standard status
Active
Size
3,607 SF
Lot size
0.17 Acres
Property subtype
Fourplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,168
Amenities
private outdoor space
Building Details
Building Size
3,607 SF
Year Built
1961
Buildings
1
Listing Agency:
Cronan Real Estate Services, Inc.
Listed By:
Alex Hawkins · License #02134868
(650) 639-9640
Source:
Johnpaye
Added: Jun 28
Changed: Sep 4
Last Checked: Sep 3 at 5:29AM
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 Cronan Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This San Mateo quadplex contains four 2-bedroom, 1-bath residences, each with private exterior space. Upper homes have decks, while lower homes include yards. Unit 2 provides a carport, an uncovered parking space, and a private backyard. Unit 3 has an updated kitchen with quartz countertops, newer cabinetry, fixtures, and appliances, along with a refreshed bathroom featuring tile, vanity, and flooring. Central forced-air service, dishwashers, electric ranges, refrigerators, and individual electric and gas meters are among the building features.
Built in 1961, the property occupies a 7,500-square-foot lot. Recent work includes roof repairs, deck waterproofing, exterior painting, door replacement, and carport reconstruction. The property is near schools and within walking distance of downtown Burlingame and San Mateo.
Built in 1961, the property occupies a 7,500-square-foot lot. Recent work includes roof repairs, deck waterproofing, exterior painting, door replacement, and carport reconstruction. The property is near schools and within walking distance of downtown Burlingame and San Mateo.
Key Highlights
- Four 2BR/1BA units, each with private outdoor space
- 7,500‑square‑foot lot with flat configuration
- Unit 2 includes a carport, uncovered parking space, and private backyard
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
$90,192
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
3.61%
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%
$1,803,840
$1.8M
Cap Rate 7%
$1,288,457
$1.3M
Cap Rate 9%
$1,002,133
$1.0M
Market Conditions
NOI Build-Up for 3,607 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
$136.3K $37.80/SF
− Vacancy
−$7.5K −$2.08/SF
EGI
$128.8K $35.72/SF
− OpEx
−$38.7K −$10.72/SF
NOI
$90.2K $25.00/SF
Area
San Mateo, CA
Vacancy
5.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,803,840
Cap Rate 7%
$1,288,457
Cap Rate 9%
$1,002,133
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.50M
NOI $90,192 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,417 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,865 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 94401, CA
35,249
Population
13,798
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
11,371
Density / Sq Mi
$121,258
Median Household Income
$57,724
Median Earnings
$2,713
Median Rent
$1,123,300
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?
Quadplex - Four residences feature two bedrooms, one bath, and individual outdoor areas, with select parking and recent property improvements.
Where is this quadplex located?
The property is located at 444 Villa TER San Mateo, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Four 2BR/1BA units, each with private outdoor space; 7,500‑square‑foot lot with flat configuration; Unit 2 includes a carport, uncovered parking space, and private backyard
