265-273 88th ST Open House Save Request In-Person Tour Request Virtual Tour
Daly City,CA 94015
OPEN HOUSE
Wed Jul 16, 11:00am - 1:00pm Mon Jul 21, 11:00am - 1:00pm
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 91,970 sqft
Price per Sqft $282
MLS Listing ID ML82013733
Bedrooms 8
Full Baths 7
Year Built 1966
Lot Size 0.976 Acres
Property Sub-Type Five or More Units
Property Description
265-273 88th Street is a rare eighty (80) unit multifamily portfolio comprising five (5) extremely well-maintained apartment buildings situated on two parcels in the heart of the highly desirable Broadmoor Neighborhood of Daly City. - Offered at $26M, this stabilized asset features a unit mix of (6) 3-Br/2-Ba, (6) 2-Br/2-Ba, (4) 2-Br/1-Ba, (62) 1-Br/1-Ba, and (2) Studio units, totaling over 91,000± square feet of gross building area. With a favorable price-per-unit of $325,000 and a price-per-square-foot of $283, this opportunity has strong in-place cash flow (5.23% current cap rate & 11.33 current GRM) -- 265 88th St (4-units), 273 88th St (20-units), 1145 Edgeworth (18-units), 1157 Edgeworth (18-units), 374 89th St (20-units). SIGNIFICANT CAPITAL IMPROVEMENTS have been completed, including voluntary seismic upgrade, updated windows across all buildings, upgraded main electrical panels (25'), deck re-coating and rail painting (25'), updated water heaters, bird proofing, and extensive interior unit updates, with most units having been updated in the past 5-7 years. All units are individually metered for gas and electric, and twelve (12) units offer central forced-air heating.
Location
State CA
County San Mateo
Area 'Original' Daly City
Zoning SC(C-0)
Rooms
Other Rooms Laundry Room,Storage
Kitchen Countertop - Granite,Dishwasher,Oven Range - Electric,Refrigerator
Interior
Heating Central Forced Air,Wall Furnace
Cooling None
Flooring Laminate
Laundry Coin Operated
Exterior
Exterior Feature Balcony / Patio
Parking Features Assigned Spaces,Covered Parking
Pool Pool - Fenced,Pool - In Ground
Community Features Community Pool,Trash Chute
Utilities Available Individual Electric Meters,Individual Gas Meters
View City,Golf Course
Roof Type Tar and Gravel
Building
Lot Description Grade - Gently Sloped,Grade - Mostly Level
Foundation Concrete Slab,Quake Bracing
Sewer Sewer - Public,Sewer Connected
Water Public
Others
Restrictions None
Tax ID 006-197-120
Security Features Fire Alarm
Special Listing Condition Not Applicable