498 Lincoln Circle

Millbrae, CA 94030

$4,690,000
Last Sold Price
Beds
10,010 Sq. Ft.
$469 / Sq. Ft.
10,010
Sq. Ft.
$469
per Sq. Ft.

Description

Prime 9 Unit Residential Apartment Building in Downtown Millbrae, CA. Features larger than average 2 and 3 bedroom units, providing a desirable unit mix for today's work from home (WFH) environment. Property has a stable tenant base with low turnover and a track record of consistent rental revenue and income. Most units are presently rented at below the market average rent providing upside potential. Property is rated as Very Walkable (Walk Score 72/100). Nearby are Trader Joes, Walgreens, Safeway,...Prime 9 Unit Residential Apartment Building in Downtown Millbrae, CA. Features larger than average 2 and 3 bedroom units, providing a desirable unit mix for today's work from home (WFH) environment. Property has a stable tenant base with low turnover and a track record of consistent rental revenue and income. Most units are presently rented at below the market average rent providing upside potential. Property is rated as Very Walkable (Walk Score 72/100). Nearby are Trader Joes, Walgreens, Safeway, Starbucks, Gyms, restaurants, small shops, cafes, Millbrae Library, and Central Park with Community Gardens, Tennis Courts, sports fields, Rec Center, & Playgrounds. Centrally located on the Peninsula with access to 101, 280, 380, & Millbrae BART and CalTrain Stations, providing transit to San Francisco, Silicon Valley, Stanford, San Jose, & major employers including San Francisco Airport (SFO), Oracle, Electronic Arts, Genentech, GiLead Sciences, Visa, Youtube, Facebook.
  1. Listed by Maggie Li • DRE #01947004 • Brokerage DRE #01354442 • Intero Real Estate Services • 650-533-7351
  2. Listed by John St. Georges • DRE #02122696 • Brokerage DRE #01354442 • Intero Real Estate Services

Property Details for 498 Lincoln Circle

MLS City Name
MILLBRAE
Building Type
Other
Garage Spaces
0
Parking Spaces
0
Cross Street
Richmond Dr.

Location

Listing Courtesy of Intero Real Estate Services, Maggie Li, DRE #01947004; Intero Real Estate Services, John St. Georges, DRE #02122696

Sold By Norcal Realty, Spencer Luo, DRE #01213322

Add your commute
LISTING UPDATED: 12/21/2021 04:59 PM

Property Details for 498 Lincoln Circle

StatusSold
MLS #ML81832501
Days on Compass1
Taxes$10,367 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1969
Lot Size0.21 AC / 9,000 SF
CountySan Mateo County

Location

Listing Courtesy of Intero Real Estate Services, Maggie Li, DRE #01947004; Intero Real Estate Services, John St. Georges, DRE #02122696

Sold By Norcal Realty, Spencer Luo, DRE #01213322

Add your commute

Building Information for 498 Lincoln Circle

Stories-Residences-Year Built1969Building Size-Lot Size0.21 AC / 9,000 SF

Payment Calculator

$26,459 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,595

Property Taxes

$864

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 498 Lincoln Circle

Features
Features
  • Fireplace: No
  • Living SqFt: 10010
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • 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: 9
Garage
  • Garage and Parking: Carport, Common Parking Area, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 9
  • Area Text: Telescope Hills/Silva Ranch
  • Restrictions: None
  • Roof: Flat / Low Pitch
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 498
  • Street Name: Lincoln
  • Street Suffix: Circle
  • Area ID: 484
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 10010
  • Structure SqFt Source: Assessor
  • Age: 52
Development Information
  • Ownership Type: Individual
  • Zoning Detail: R-3 Multi Family
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 021-434-100
  • County Name: San Mateo
  • City Name: MILLBRAE
  • City Postal ID: 34
  • Postal Code: 94030
  • Elementary School District: 932
  • High School District Text: San Mateo Union High
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: .21
  • 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: No
Multi Family Information
Building Information
  • No Of Leased: 8
General Information
  • Annual Tax Amount: $10,367
  • Capitalization Rate: 3.75
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Lease
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $7,714
  • Expense Landscape: $2,100
  • Expense Maintenance: $4,865
  • Expense Management: $14,439
  • Expense Trash: $5,266
  • Expenses Other: $226
  • Expenses Utility: $24,958
  • Expenses Total: $69,935
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 19.39
  • Income Annual Gross: $256,860
  • Income Annual Rental: $256,860
  • Income Gross Scheduled: $256,860
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,150
  • Unit 1 Type: Apartment
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Rent: $1,795
Unit 3 Information
  • Unit 3 Full Bathrooms: 2
  • Unit 3 Number of Bedrooms: 3
  • Unit 3 Rent: $3,300
  • Unit 3 Type: Apartment
Unit 4 Information
  • Unit 4 Rent: $0
Listing Info
Rental Info
  • Lease Type: Net

Property History for 498 Lincoln Circle

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 498 Lincoln Circle

Taxable ValueLand$2,524,500Additions$2,259,300Total$4,783,800
Tax Record2023$67,593 ($5,633 / month)
Home Facts
Baths1Total Finished SqFt10,010 SqFtAbove Grade Finished SqFt10,010 SqFtStories2Lot Size9,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1969CountySAN MATEOAPN021-434-100

Schools near 498 Lincoln Circle

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
Charter - 9 to 12
Rating
School
Distance
Meadows Elementary School
PublicK to 5

Taylor Middle School
Public6 to 8

Mills High School
Public9 to 12

Design Tech High
Charter9 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.

Similar Homes

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Similar Sold Homes

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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 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 Intero Real Estate Services, Maggie Li, DRE #01947004; Intero Real Estate Services, John St. Georges, DRE #02122696

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.