Updated Seven-Unit Apartment
New
For Sale
$2,698,000
520 San Antonio Avenue, San Bruno, CA 94066
Seven-unit property with renovated kitchens, updated bathrooms, and private outdoor space at select units.
Property Size5,860 SF
Price / SF$460.41
Days on Market5
Property Features for 520 San Antonio Avenue
General Information
Standard status
Active
Size
5,860 SF
Property subtype
Multi Family
Units
Unit Mix
6 x 1BR, 1 x 2BR
Multifamily Units
7
Additional Details
Public Transit
Yes
Building Details
Year Built
1962
Buildings
1
Listing Agency:
Garrison Properties
(650) 755-2969
Listed By:
Robert Garrison · License #00634641
(650) 755-2969
Source:
Exitrealty
Added: Aug 18
Changed: Aug 21
Last Checked: Aug 22 at 4:01AM
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 Garrison Properties
Investment Insights
Based on property information with market context.
Built in 1962, this apartment property at 520 San Antonio Avenue comprises seven units, including six one-bedroom residences and one two-bedroom residence. Interior improvements include fully remodeled kitchens in five units, updates to the remaining two kitchens, and renovated bathrooms throughout. Four units include private decks or patios, adding outdoor space to the unit mix.
Property improvements include electrical panels identified as compliant, a roof approximately 11 years old, and SB 721 clearance. A termite report is on file. The property is within walking distance of schools, BART, Caltrain, downtown San Bruno, and retail and dining along El Camino Real.
Property improvements include electrical panels identified as compliant, a roof approximately 11 years old, and SB 721 clearance. A termite report is on file. The property is within walking distance of schools, BART, Caltrain, downtown San Bruno, and retail and dining along El Camino Real.
Key Highlights
- Seven‑unit apartment property with six one‑bedroom units and one two‑bedroom unit
- Five kitchens fully remodeled; two additional kitchens updated
- Updated bathrooms throughout the building
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
$159,492
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
5.91%
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%
$3,189,840
$3.2M
Cap Rate 7%
$2,278,457
$2.3M
Cap Rate 9%
$1,772,133
$1.8M
Market Conditions
NOI Build-Up for 5,860 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
$305.9K $52.20/SF
− Vacancy
−$15.9K −$2.71/SF
EGI
$290.0K $49.49/SF
− OpEx
−$130.5K −$22.27/SF
NOI
$159.5K $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 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%
$3,189,840
Cap Rate 7%
$2,278,457
Cap Rate 9%
$1,772,133
Alternative Uses
Best Use
Apartment 5plus
$2.28M
$1.99M – $2.66M
NOI $159,492 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.65M
$4.07M – $5.43M
NOI $325,827 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 94066, CA
44,147
Population
16,736
Households
2.6
Avg Household Size
40
Median Age
44%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
7,237
Density / Sq Mi
$135,976
Median Household Income
$66,057
Median Earnings
$2,696
Median Rent
$1,199,400
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 - Seven-unit property with renovated kitchens, updated bathrooms, and private outdoor space at select units.
Where is this apartment building located?
The property is located at 520 San Antonio Avenue San Bruno, CA.
What is the asking price?
The asking price for this property is $2,698,000.
What are key features of this property?
This property features: Seven‑unit apartment property with six one‑bedroom units and one two‑bedroom unit; Five kitchens fully remodeled; two additional kitchens updated; Updated bathrooms throughout the building
