519 Commercial Avenue

South San Francisco, CA 94080

$4,400,000
Last Sold Price
Beds
9,591 Sq. Ft.
$459 / Sq. Ft.
9,591
Sq. Ft.
$459
per Sq. Ft.

Description

519 Commercial Avenue in downtown South San Francisco presents an incredible value add opportunity for an investor. The property boasts an almost unheard of unit mix consisting of (9) 2 bedroom, 1 bath units. This investment has solid in place rents with massive upside potential through renovation. It is located in downtown South San Francisco, is blocks from Grand Ave. and sports a WalkScore of 91 (Walkers Paradise). With unprecedented growth in South San Francisco fueled by Biotech/Life Science...519 Commercial Avenue in downtown South San Francisco presents an incredible value add opportunity for an investor. The property boasts an almost unheard of unit mix consisting of (9) 2 bedroom, 1 bath units. This investment has solid in place rents with massive upside potential through renovation. It is located in downtown South San Francisco, is blocks from Grand Ave. and sports a WalkScore of 91 (Walkers Paradise). With unprecedented growth in South San Francisco fueled by Biotech/Life Science companies this will prove to be a fantastic asset. Two units have been completely and beautifully renovated and demonstrate significant upside as these units are now currently under maximum achievable current rent levels.
  1. Listed by Steve Zirelli • DRE #01929245 • Brokerage DRE #00586119 • Cornish & Carey Commercial • 650-224-3118
  2. Listed by Brian Henry • DRE #01385537 • Brokerage DRE #00586119 • Newmark Cornish & Carey

Property Details for 519 Commercial Avenue

MLS City Name
SOUTH SAN FRANCISCO
Building Type
Other
Garage Spaces
3
Parking Spaces
7

Location

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245; Newmark Cornish & Carey, Brian Henry, DRE #01385537

Sold By RE/MAX Star Properties, Larry Mueller, DRE #00341576

Add your commute
LISTING UPDATED: 08/25/2022 12:54 PM

Property Details for 519 Commercial Avenue

StatusSold
MLS #ML81897328
Days on Compass52
Taxes$55,748 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1962
Lot Size0.21 AC / 9,000 SF
CountySan Mateo County

Location

Listing Courtesy of Cornish & Carey Commercial, Steve Zirelli, DRE #01929245; Newmark Cornish & Carey, Brian Henry, DRE #01385537

Sold By RE/MAX Star Properties, Larry Mueller, DRE #00341576

Add your commute

Building Information for 519 Commercial Avenue

Stories-Residences-Year Built1962Building Size-Lot Size0.21 AC / 9,000 SF

Payment Calculator

$28,658 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,013

Property Taxes

$4,646

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 519 Commercial Avenue

Features
Features
  • Fireplace: No
  • Living SqFt: 9591
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 5
Garage
  • Garage and Parking: Attached Garage, Covered Parking, Tandem Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 9
  • Area Text: Old South SF / Rocca
  • Restrictions: Age - No Restrictions
  • Roof: Composition
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 519
  • Street Name: Commercial
  • Street Suffix: Avenue
  • Area ID: 532
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 9591
  • Structure SqFt Source: Assessor
  • Age: 60
Development Information
  • Zoning Detail: Multi Family
Location Information
  • Parcel Number: 012-271-170
  • County Name: San Mateo
  • City Name: SOUTH SAN FRANCISCO
  • City Postal ID: 73
  • Postal Code: 94080
  • Elementary School District: 941
  • High School District Text: South San Francisco Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .21
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
General Information
  • Annual Tax Amount: $55,748
  • Capitalization Rate: 3.87
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry
  • Vacancy Factor: 2
Income / Expense Details
  • Expense Insurance: $2,862
  • Expense Landscape: $1,820
  • Expense Maintenance: $7,200
  • Expense Management: $0
  • Expense Trash: $5,617
  • Expenses Other: $2,035
  • Expenses Utility: $8,900
  • Expenses Total: $84,182
  • Operating Expenses Include: Maintenance, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 17.02
  • Income Annual Gross: $267,965
  • Income Annual Rental: $277,080
  • Income Gross Scheduled: $279,130
  • Income Other: $2,050
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,300
Unit 2 Information
  • Unit 2 Rent: $0
Unit 3 Information
  • Unit 3 Rent: $0
Unit 4 Information
  • Unit 4 Rent: $0
Unit Type 1
  • Unit Type1 Units Total: 9
Listing Info
Rental Info
  • Lease Type: Net

Property History for 519 Commercial Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 519 Commercial Avenue

Taxable ValueLand$2,750,000Additions$1,650,000Total$4,400,000
Tax Record2023$54,679 ($4,557 / month)
Home Facts
Baths9Total Finished SqFt9,591 SqFtAbove Grade Finished SqFt9,591 SqFtStories2Lot Size9,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1962CountySAN MATEOAPN012-271-170

Schools near 519 Commercial Avenue

This home is within South San Francisco Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Spruce Elementary School
PublicK to 5

Parkway Heights Middle School
Public6 to 8

South San Francisco High School
Public9 to 12

Community Day
Public6 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 Cornish & Carey Commercial, Steve Zirelli, DRE #01929245; Newmark Cornish & Carey, Brian Henry, DRE #01385537

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.