710 Laurel Avenue

San Mateo, CA 94401

$14,950,000
Price
Beds
21,345 Sq. Ft.
$700 / Sq. Ft.
21,345
Sq. Ft.
$700
per Sq. Ft.

Description

Located at 710 Laurel Ave in Downtown San Mateo, Park Laurel Apartments, constructed in 1959, features a 21,345 sq ft gross buildable area with renovated studios, one-bedroom, and two-bedroom units. On market for the second time ever, the subject property shares a border with Central Park, offering scenic views of the Japanese Garden. Investors have the opportunity to acquire an extensively renovated asset bordering Central Park in one of the most desirable and sought after neighborhoods in San Mateo...Located at 710 Laurel Ave in Downtown San Mateo, Park Laurel Apartments, constructed in 1959, features a 21,345 sq ft gross buildable area with renovated studios, one-bedroom, and two-bedroom units. On market for the second time ever, the subject property shares a border with Central Park, offering scenic views of the Japanese Garden. Investors have the opportunity to acquire an extensively renovated asset bordering Central Park in one of the most desirable and sought after neighborhoods in San Mateo County. 18/26 or 69% of the units are complete with in-unit washer/dryers, stainless steel appliances, gas stoves, recessed lighting and updated flooring. Earthquake seismic retrofit complete in 2015. The remaining units provide a new owner the opportunity to increase the revenue even further. 3D tours + additional photos are available by request. One vacancy available for tours by appointment only.
  1. Listed by Jacob Anthony • DRE #02059020 • Brokerage DRE #01240999 • Marcus & Millichap • 650-787-6707

Property Details for 710 Laurel Avenue

MLS City Name
SAN MATEO
Building Type
Other
Complex Name
Park Laurel Apartments
Garage Spaces
0
Parking Spaces
0
View
Downtown, Garden / Greenbelt, Park
Cross Street
7th

Location

Listing Courtesy of Marcus & Millichap, Jacob Anthony, DRE #02059020
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LISTING UPDATED: 02/29/2024 10:04 AM

Property Details for 710 Laurel Avenue

StatusActive
MLS #ML81948828
Days on Compass151
Taxes$168,756 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1959
Lot Size0.53 AC / 23,100 SF
CountySan Mateo County

Location

Listing Courtesy of Marcus & Millichap, Jacob Anthony, DRE #02059020
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Virtual Tour

Building Information for 710 Laurel Avenue

Stories-Residences-Year Built1959Building Size-Lot Size0.53 AC / 23,100 SF

Payment Calculator

$95,651 per month

30 year fixed, 7.25% Interest

Principal and Interest

$81,588

Property Taxes

$14,063

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 710 Laurel Avenue

Features
External Links
Room Information
  • Additional Rooms: Storage
  • Kitchen: Dishwasher, Freezer, Ice Maker, Microwave, Oven Range - Gas, Refrigerator
Features
  • Amenities: Security Gate, Skylight, Video / Audio System, Walk-in Closet, Other
  • Communications: Fiber Ready
  • Fireplace: No
  • Flooring: Laminate, Vinyl / Linoleum
  • Laundry: Washer/Dryer - Some Units
  • Living SqFt: 21345
  • Pool: Yes
  • Pool Type: Pool - In Ground
  • Security Features: Fire Alarm, Secured Garage / Parking, Security Fence, Video / Audio System
  • Special Features: None
Utilities
  • Cooling: Ceiling Fan
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Other
Carport and Parking
  • Carport Min: 26
Garage
  • Garage and Parking: Assigned Spaces, Carport
Property Details
Homeowners Association
  • HOA Amenities: Additional Storage, BBQ Area, Community Pool, Community Security Gate, Other
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 26
  • Area Text: Hayward Park
  • Restrictions: Pets - Restrictions
  • Roof: Tar and Gravel
  • Subclass: Five or More Units
  • TIC Agreement: Yes
  • Year Built Source: Assessor
  • Street Number: 710
  • Street Name: Laurel
  • Street Suffix: Avenue
  • Area ID: 419
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 21345
  • Structure SqFt Source: Assessor
  • Age: 64
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Other Business Ownership
  • Zoning Detail: R6-D
Location Information
  • City Limits: Yes
  • Parcel Number: 034-200-060
  • County Name: San Mateo
  • City Name: SAN MATEO
  • City Postal ID: 62
  • Postal Code: 94401
  • Elementary School District: 938
  • High School District Text: San Mateo Union High
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: .53
  • 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: 25
General Information
  • Annual Tax Amount: $168,756
  • Capitalization Rate: 3.78
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $19,362
  • Expense Landscape: $2,400
  • Expense Maintenance: $10,400
  • Expense Management: $26,396
  • Expense Trash: $9,143
  • Expenses Other: $45,307
  • Expenses Utility: $26,456
  • Expenses Total: $308,220
  • Operating Expenses Include: Fee - Property Management, Insurance, Maintenance, Maintenance - Pool/Spa, Utilities, Vacancy Factor
  • Gross Rent Multiplier: 16.61
  • Income Annual Gross: $872,809
  • Income Annual Rental: $898,020
  • Income Gross Scheduled: $899,803
  • Income Other: $1,783
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 0
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $2,600
Unit 2 Information
  • Unit 2 Approx Square Footage: 900
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 0
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $3,800
Unit 3 Information
  • Unit 3 Approx Square Footage: 650
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Half Bathrooms: 0
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $2,450
Unit Type 1
  • Unit Type1 Approx SqFt: 400

Property History for 710 Laurel 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 710 Laurel Avenue

Taxable ValueLand$5,967,165Additions$5,927,278Total$11,894,443
Tax Record2023$164,268 ($13,689 / month)
Home Facts
Baths3Total Finished SqFt21,345 SqFtAbove Grade Finished SqFt21,345 SqFtStories3Lot Size23,100 SqFtStyleMulti-Family Res (5+ Units)Year Built1959CountySAN MATEOAPN034-200-060

Schools near 710 Laurel Avenue

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 - 9 to 12
Rating
School
Distance
Sunnybrae Elementary School
PublicK to 5

Borel Middle School
Public6 to 8

Aragon High School
Public9 to 12

Peninsula High
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.

Similar Homes

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710 Laurel Avenue is a multi-family home for sale in San Mateo, CA 94401. This property was listed for sale on November 29, 2023 by Marcus & Millichap, it's currently listed at $14,950,000. It has been on the market for a total of 151 days and was last sold on December 18, 2018. 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. 710 Laurel Avenue is a 0-bed, 0-bath, 21,345 sqft multi-family home built in 1959.

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 Marcus & Millichap, Jacob Anthony, DRE #02059020

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.