Remodeled Multi-Unit Investment
For Sale
$2,850,000
739 N Amphlett Blvd, San Mateo, CA 94401
Six remodeled units near Highway 101, downtown, and Caltrain.
Property Size4,586 SF
Price / SF$621.46
Days on Market171
Property Features for 739 N Amphlett Blvd
General Information
Standard status
Active
Size
4,586 SF
Total Parking Spaces
6
Property subtype
Multi Family Home
Zoning
R40000
Building Details
Building Size
4,586 SF
Year Built
1958
Buildings
1
Listing Agency:
Kw Advisors
(650) 892-2736
Listed By:
Dan Lyons · License #01848586
(650) 892-2736
Source:
Dualprideproperties
Added: Mar 5
Changed: Aug 23
Last Checked: Aug 22 at 6:46AM
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 Kw Advisors
Investment Insights
Based on property information with market context.
Located in San Mateo, this commercial multi-unit property at 739 N. Amphlett Blvd presents an investment opportunity. The building features six fully remodeled residential units. There are five one-bedroom, one-bathroom units, each approximately 600 sq ft, and one two-bedroom, one-bathroom unit. The interiors are modern, with updated kitchens, bathrooms, flooring, and fixtures. Each unit has a detached enclosed garage. The property offers access to Highway 101, downtown San Mateo, Caltrain, shopping, and dining. It is suitable for investors seeking stable income in a strong rental market and 1031 Exchange buyers looking for portfolio diversification in the San Francisco Bay Area. The property size is 4586 square feet.
Key Highlights
- Six fully remodeled residential units offering immediate rental income.
- Prime location with easy access to Highway 101, downtown San Mateo, and Caltrain.
- Detached enclosed garages providing secure parking for each unit.
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
$103,515
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
3.63%
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%
$2,070,300
$2.1M
Cap Rate 7%
$1,478,786
$1.5M
Cap Rate 9%
$1,150,167
$1.2M
Market Conditions
NOI Build-Up for 4,586 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
$198.1K $43.20/SF
− Vacancy
−$9.9K −$2.16/SF
EGI
$188.2K $41.04/SF
− OpEx
−$84.7K −$18.47/SF
NOI
$103.5K $22.57/SF
Area
San Mateo, CA
Vacancy
5.00%
Lease Rate
$43.20 /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%
$2,070,300
Cap Rate 7%
$1,478,786
Cap Rate 9%
$1,150,167
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.73M
NOI $103,515 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,970 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
932
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?
Apartment building - Six remodeled units near Highway 101, downtown, and Caltrain.
Where is this apartment building located?
The property is located at 739 N Amphlett Blvd San Mateo, CA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Six fully remodeled residential units offering immediate rental income.; Prime location with easy access to Highway 101, downtown San Mateo, and Caltrain.; Detached enclosed garages providing secure parking for each unit.
