501 South Fremont Street

San Mateo, CA 94402

$3,880,000
Price
Beds
6,970 Sq. Ft.
$557 / Sq. Ft.
6,970
Sq. Ft.
$557
per Sq. Ft.

Description

Rarely Available Opportunity to Acquire 6 Spacious, Easy-To-Manage 2-Bedroom/1-Bath Units Near Downtown San Mateo. Conveniently-Located Asset Near Downtown San Mateo. Very Easy Access From Highway 101. Desirable Rental Location on 2 Quiet Treelined Streets (S. Fremont and E. 5th Ave). All 2 Bedroom/1 Bath Units (887 SF Each). Walk to San Mateo Cal-Train & Downtown San Mateo. Updated Units w/ Excellent Floorplan. Potential to Add 2 to 3 ADUs. Supply-Constrained. Very Few Small to Midsized Apartments...Rarely Available Opportunity to Acquire 6 Spacious, Easy-To-Manage 2-Bedroom/1-Bath Units Near Downtown San Mateo. Conveniently-Located Asset Near Downtown San Mateo. Very Easy Access From Highway 101. Desirable Rental Location on 2 Quiet Treelined Streets (S. Fremont and E. 5th Ave). All 2 Bedroom/1 Bath Units (887 SF Each). Walk to San Mateo Cal-Train & Downtown San Mateo. Updated Units w/ Excellent Floorplan. Potential to Add 2 to 3 ADUs. Supply-Constrained. Very Few Small to Midsized Apartments Nearby. Mixed in w/ Single Family Homes. Renovated Apartment Units: All Units Equipped With Dishwasher, Plus Potential to Add In-Unit Washer & Dryers to Boost Rents and NOI. Capital Improvements: Updated Plumbing and Electrical, Dual-Pane Windows, New Water Heaters, New Exterior Painting, New Drought-Resistant Landscaping. Proven, Consistent Income-Generator, Providing Strong Cashflow with Very Low Vacancies and Turnovers. Low Operating Costs. Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 280. Walkscore: 92. Bike Score: 84. Current CAP Rate: 3.45% / Current GRM: 17.4. Pro-Forma CAP Rate: 4.13% / Pro-Forma GRM: 15.5. Cost Per SF: $556.7/SF.
  1. Listed by Don Sung • DRE #01935797 • Brokerage DRE #00490878 • Colliers Parrish International • 650-380-5188

Property Details for 501 South Fremont Street

MLS City Name
SAN MATEO
Building Type
Other
Garage Spaces
6
Parking Spaces
2
Cross Street
E. 5th Ave

Location

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797
Add your commute
LISTING UPDATED: 05/10/2024 03:05 PM

Property Details for 501 South Fremont Street

StatusActive
MLS #ML81965208
Days on Compass22
Taxes$50,786 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1964
Lot Size0.20 AC / 8,890 SF
CountySan Mateo County

Location

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797
Add your commute

Building Information for 501 South Fremont Street

Stories-Residences-Year Built1964Building Size-Lot Size0.20 AC / 8,890 SF

Payment Calculator

$25,407 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,175

Property Taxes

$4,232

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 501 South Fremont Street

Features
Room Information
  • Kitchen: Countertop - Granite, Dishwasher, Garbage Disposal, Oven - Electric, Oven Range - Electric, Refrigerator
Features
  • Fireplace: No
  • Laundry: Coin Operated, Washer / Dryer
  • Living SqFt: 6970
  • Pool: No
  • Security Features: Security Lights
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 2
Garage
  • Garage and Parking: Assigned Spaces, Covered Parking, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 6
  • Area Text: 19th Avenue Park / Sunnybrae
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 501
  • Street Name: Fremont
  • Street Direction Prefix: South
  • Street Suffix: Street
  • Area ID: 418
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 6970
  • Structure SqFt Source: Assessor
  • Age: 60
Development Information
  • Ownership Type: Trust
  • Zoning Detail: R3
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 033-293-320
  • County Name: San Mateo
  • City Name: SAN MATEO
  • City Postal ID: 62
  • Postal Code: 94402
  • Elementary School District: 938
  • High School District Text: San Mateo Union High
Lot Information
  • Foundation: Crawl Space
  • Lot Acres: .20
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Mobile / Manufactured Information
Other Information
  • Dual Variable: Yes
Multi Family Information
Building Information
  • No Of Leased: 6
General Information
  • Annual Tax Amount: $50,786
  • Capitalization Rate: 3.45
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $4,910
  • Expense Landscape: $0
  • Expense Maintenance: $6,000
  • Expense Management: $12,169
  • Expense Trash: $3,526
  • Expenses Other: $0
  • Expenses Utility: $5,684
  • Expenses Total: $83,075
  • Operating Expenses Include: Maintenance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Gross Rent Multiplier: 17.35
  • Income Annual Gross: $216,963
  • Income Annual Rental: $221,940
  • Income Gross Scheduled: $223,673
  • Income Other: $1,733
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,995
Unit Type 1
  • Unit Type1 Approx SqFt: 877

Property History for 501 South Fremont Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 501 South Fremont Street

Taxable ValueLand$1,386,215Additions$1,623,027Total$3,009,242
Tax Record2023$40,957 ($3,413 / month)
Home Facts
Baths6Total Finished SqFt6,970 SqFtAbove Grade Finished SqFt6,970 SqFtStories2Lot Size8,890 SqFtStyleMulti-Family Res (5+ Units)Year Built1964CountySAN MATEOAPN033-293-320

Schools near 501 South Fremont Street

This home is within San Mateo Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
Sunnybrae Elementary School
PublicK to 5

Borel Middle School
Public6 to 8

Aragon High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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501 South Fremont Street is a multi-family home for sale in San Mateo, CA 94402. This property was listed for sale on May 10, 2024 by Colliers Parrish International, it's currently listed at $3,880,000. It has been on the market for a total of 22 days and was last sold on December 29, 2014. This listing's school districts are San Mateo Union High School District, San Mateo-Foster City School District. Nearby schools include Sunnybrae Elementary School, Borel Middle School and Aragon High School. 501 South Fremont Street is a 0-bed, 0-bath, 6,970 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.