Multifamily Apartment
472 Lincoln Circle, Millbrae, CA 94030
For Sale
$5,900,000
The four-property offering is available as a complete portfolio, in county groupings, or as individual acquisitions.
Property Size18,768 SF
Price / SF$314.36
Days on Market81
Property Features for 472 Lincoln Circle
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Listing Agency:
Colliers International
Listed By:
Matthew Flaherty · License #2075798
(415) 288-7811
Source:
Soudahrealty
Added: Aug 21
Changed: Nov 7
Last Checked: Nov 8 at 5:23PM
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 Colliers International
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Investment Insights
Based on property information with market context.
This multifamily offering comprises four apartment communities with a combined 41 units. Individual properties range from 8 to 15 units, with locations in Millbrae, Redwood City, Concord, and Martinez. The assets may be acquired together, in county-based sub-portfolios, or separately.
The San Mateo County group contains 25 units, while the Contra Costa County group contains 16. Their stated go-to-market cap rates are 4.94% and 5.26%, respectively. In Redwood City, 1548 Hudson Street has the portfolio’s largest floorplans, averaging approximately 1,160 square feet per unit.
The Millbrae property at 472-480 Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects directly with Caltrain. The two Peninsula properties have in-place rents stated as 10.54% and 10.34% below market, respectively.
The San Mateo County group contains 25 units, while the Contra Costa County group contains 16. Their stated go-to-market cap rates are 4.94% and 5.26%, respectively. In Redwood City, 1548 Hudson Street has the portfolio’s largest floorplans, averaging approximately 1,160 square feet per unit.
The Millbrae property at 472-480 Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects directly with Caltrain. The two Peninsula properties have in-place rents stated as 10.54% and 10.34% below market, respectively.
Key Highlights
- Four apartment communities totaling 41 units across Millbrae, Redwood City, Concord, and Martinez
- Individual properties range from 8 to 15 units
- San Mateo County sub‑portfolio includes 25 units; Contra Costa County sub‑portfolio includes 16
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$510,810
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,216,200
$10.2M
Cap Rate 7%
$7,297,286
$7.3M
Cap Rate 9%
$5,675,667
$5.7M
Market Conditions
NOI Build-Up for 18,768 SF
Gross rent
$979.7K $52.20/SF
− Vacancy
−$50.9K −$2.71/SF
EGI
$928.7K $49.49/SF
− OpEx
−$417.9K −$22.27/SF
NOI
$510.8K $27.22/SF
Area
San Mateo County, CA
Vacancy
5.20%
Lease Rate
$52.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,216,200
Cap Rate 7%
$7,297,286
Cap Rate 9%
$5,675,667
Alternative Uses
Best Use
Apartment 5plus
$7.30M
$6.39M – $8.51M
NOI $510,810 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.44M
$10.01M – $13.35M
NOI $800,767 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
41
Residential units
Location Intelligence
Trade Area within ½ mile
980
Businesses Nearby
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Business Placement
Demographics for 94030, CA
23,212
Population
8,566
Households
2.7
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
6,827
Density / Sq Mi
$157,567
Median Household Income
$74,128
Median Earnings
$3,401
Median Rent
$1,929,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in San Mateo County, CA
Properties on Market for Apartment buildings in San Mateo County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The four-property offering is available as a complete portfolio, in county groupings, or as individual acquisitions.
Where is this apartment building located?
The property is located at 472 Lincoln Circle Millbrae, CA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Four apartment communities totaling 41 units across Millbrae, Redwood City, Concord, and Martinez; Individual properties range from 8 to 15 units; San Mateo County sub‑portfolio includes 25 units; Contra Costa County sub‑portfolio includes 16
