429 Studio Cir

San Mateo, CA 94401

$3,700,000
Last Sold Price
—
Beds
—
Baths
6,358 Sq. Ft.
$582 / Sq. Ft.
6,358
Sq. Ft.
$582
per Sq. Ft.
Sold 8/11/21
Sold 8/11/21
a front view of a house with garden
a car parked in front of a house
a view of a house
a view of a car garage
a view of a car parked in front of a building
a view of a house with a yard
a kitchen with a sink a stove and refrigerator
a kitchen with a stove a sink and a refrigerator
a view of entryway with wooden floor
a view of an empty room with wooden floor and a window
a bathroom with a shower
a white toilet sitting next to a bath tub and a shower

Description

429 Studio Circle offers an investor the opportunity to acquire a fully renovated apartment property with extensive interior and exterior renovations. Studio Circle sits on a 7,564 SF lot with 6,358 SF of rentable space. The building consists of (2) two bedroom/ one bath units & (5) one bedroom/ one bath units. All units benefit from significant interior upgrades including: In-Unit Washers & Dryers, Updated Kitchens w/ new counters, cabinets, modern backsplash & appliances, renovated Baths, New LVT...429 Studio Circle offers an investor the opportunity to acquire a fully renovated apartment property with extensive interior and exterior renovations. Studio Circle sits on a 7,564 SF lot with 6,358 SF of rentable space. The building consists of (2) two bedroom/ one bath units & (5) one bedroom/ one bath units. All units benefit from significant interior upgrades including: In-Unit Washers & Dryers, Updated Kitchens w/ new counters, cabinets, modern backsplash & appliances, renovated Baths, New LVT flooring and interior paint. Tenants enjoy private yards or balconies, extra storage space and carport parking (2 garage spaces). The property also benefits from a brand new roof and dual pane windows throughout. The current owners have spent significant capital and have achieved top of the market rents allowing a new landlord to acquire a true turnkey investment. The building is equidistant to downtown Burlingame & San Mateo & .7 miles from Washington Park and Bgame Cal Train Station.
  1. Listed by Steve Zirelli • DRE #01929245 • Brokerage DRE #00586119 • Cornish & Carey Commercial • 650-224-3118
  2. Listed by Matthew Thomson • DRE #01471708 • Brokerage DRE #00586119 • Newmark Cornish & Carey

Property Details for 429 Studio Circle

MLS City Name
SAN MATEO
Building Type
Other
Garage Spaces
2
Parking Spaces
0
LISTING UPDATED: 08/11/2021 09:57 AM

Property Details for 429 Studio Circle

StatusSold
MLS #ML81825919
Days on Compass158
Taxes$53,983 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1962
Lot Size0.17 AC / 7,564 SF
CountySan Mateo County

Location

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245; Newmark Cornish & Carey, Matthew Thomson, DRE #01471708

Sold By Century 21 Realty Alliance, Clara Wong, DRE #01905231

Add your commute

Building Information for 429 Studio Circle

Stories-Residences-Year Built1962Building Size-Lot Size0.17 AC / 7,564 SF

Payment Calculator

$22,532 per month

30 year fixed, 6.15% Interest

Principal and Interest

$18,033

Property Taxes

$4,499

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 429 Studio Circle

Features
Features
  • Amenities: Other
  • Fireplace: No
  • Flooring: Hardwood, Laminate
  • Laundry: Washer / Dryer
  • Living SqFt: 6358
  • Pool: No
  • Security Features: None
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Gas
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 5
Garage
  • Garage and Parking: Attached Garage, Carport, Off-Street Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 7
  • Area Text: Eastern Addition/Downtown Area
  • Restrictions: None
  • Roof: Composition, Shingle
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 429
  • Street Name: Studio
  • Street Suffix: Circle
  • Area ID: 417
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 6358
  • Structure SqFt Source: Assessor
  • Age: 59
Development Information
  • Zoning Detail: R3
Location Information
  • Parcel Number: 032-135-020-000
  • County Name: San Mateo
  • City Name: SAN MATEO
  • City Postal ID: 62
  • Postal Code: 94401
  • Elementary School District: 938
  • High School District Text: Jefferson Union High
Lot Information
  • Foundation: Concrete Perimeter and Slab
  • Lot Acres: .17
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Back Yard, Balcony / Patio
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 4
General Information
  • Annual Tax Amount: $53,983
  • Capitalization Rate: 3.35
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 5
Income / Expense Details
  • Expense Insurance: $2,287
  • Expense Landscape: $1,680
  • Expense Maintenance: $5,250
  • Expense Management: $0
  • Expense Trash: $2,100
  • Expenses Other: $0
  • Expenses Utility: $7,800
  • Expenses Total: $73,100
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Laundry, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Gross Rent Multiplier: 18.18
  • Income Annual Gross: $203,775
  • Income Annual Rental: $214,500
  • Income Gross Scheduled: $214,500
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $3,075
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,900

Property History for 429 Studio Circle

DateEvent & SourcePriceAppreciation
Aug 11, 2021

Temporarily Off Market

EBRD #ML81825919

—
Aug 10, 2021

Sold

MLSListings #ML81825919

$3,700,000—
Aug 10, 2021

Sold

EBRD #ML81825919

$3,700,000—
Jul 30, 2021

Sold (Public Record)

Public Record #1469433445

$3,700,000

+7.9% / yr

Jun 23, 2021

Temporarily Off Market

EBRD #ML81825919

—
Jun 23, 2021

Pending

EBRD #ML81825919

—
Jun 23, 2021

Pending

MLSListings #ML81825919

—
Jan 15, 2021

Listed (Active)

EBRD #ML81825919

$3,900,000—
Jan 15, 2021

Listed (Active)

MLSListings #ML81825919

$3,900,000—
Feb 22, 2019

Sold (Public Record)

Public Record #640401015

$3,075,000

+6.9% / yr

May 23, 2005

Sold (Public Record)

Public Record #158143687

$1,225,000—
DateEvent & SourcePrice
08/11/2021

Temporarily Off Market

EBRD #ML81825919

—
08/10/2021

Sold

MLSListings #ML81825919

$3,700,000
08/10/2021

Sold

EBRD #ML81825919

$3,700,000
07/30/2021

Sold (Public Record)

Public Record #1469433445

$3,700,000

+7.9% / yr

06/23/2021

Temporarily Off Market

EBRD #ML81825919

—
06/23/2021

Pending

EBRD #ML81825919

—
06/23/2021

Pending

MLSListings #ML81825919

—
01/15/2021

Listed (Active)

EBRD #ML81825919

$3,900,000
01/15/2021

Listed (Active)

MLSListings #ML81825919

$3,900,000
02/22/2019

Sold (Public Record)

Public Record #640401015

$3,075,000

+6.9% / yr

05/23/2005

Sold (Public Record)

Public Record #158143687

$1,225,000

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

Public Records for 429 Studio Circle

Taxable ValueLand$2,228,536Additions$1,697,932Total$3,926,468
Tax Record2024$55,332 ($4,611 / month)
Home Facts
Baths7Total Finished SqFt6,358 SqFtAbove Grade Finished SqFt6,358 SqFtStories2Lot Size7,600 SqFtStyleMulti-Family Res (5+ Units)Year Built1962CountySAN MATEOAPN032-135-020

Schools near 429 Studio Circle

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

Borel Middle School
Public6 to 8

San Mateo High School
Public9 to 12

Beach Park Elementary
PublicK to 5

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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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, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245; Newmark Cornish & Carey, Matthew Thomson, DRE #01471708

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.