970 Magnolia Avenue

Millbrae, CA 94030

$6,055,000
Last Sold Price
Beds
11,816 Sq. Ft.
$512 / Sq. Ft.
11,816
Sq. Ft.
$512
per Sq. Ft.

Description

Prominently displayed amid Millbrae's most coveted row of multi-family residential buildings, 970 Magnolia Avenue boasts unparalleled access to the shops and restaurants of downtown Millbrae, as well as transportation and highly ranked schools. Behind the buildings stately facade are Twelve (12) sizable and well appointed residential units, some of which have benefitted from recent upgrading... A fantastic opportunity to add a pride of ownership property to your portfolio! Here are some attractive...Prominently displayed amid Millbrae's most coveted row of multi-family residential buildings, 970 Magnolia Avenue boasts unparalleled access to the shops and restaurants of downtown Millbrae, as well as transportation and highly ranked schools. Behind the buildings stately facade are Twelve (12) sizable and well appointed residential units, some of which have benefitted from recent upgrading... A fantastic opportunity to add a pride of ownership property to your portfolio! Here are some attractive elements of this offering: 12 Units (All are 2-BR, 1-BA), 6 Garage ParkingSpaces,Ample Additional On-Street Parking, 11,816 SqFt Building (per Tax Records), 15,400 SqFt Parcel (per TaxRecords), Built in 1950, Gross Rental Income: $371,733.48, 100% Occupied: Ten (10) tenants are currently month-to-month with two (2) tenants on existing leases.

Listing Agents

  1. Greg Terry

    Greg Terry

    Listing Agent

    Compass

    DRE #00957651

    greg.terry@compass.com

    P: 650.678.1110

  2. Jeff Harber

    Jeff Harber

    Alternative Listing Agent

    Compass

    DRE #01779765

Property Details for 970 Magnolia Avenue

MLS City Name
MILLBRAE
Building Type
OTHER
Garage Spaces
6
Parking Spaces
0
Cross Street
Meadow Glen Aven

Location

Listing Courtesy of Compass, Greg Terry, DRE #00957651; Compass, Jeff Harber, DRE #01779765

Sold By Jose Denoga, Broker, Jose Chito Denoga, DRE #01008370

Add your commute
LISTING UPDATED: 02/16/2024 07:10 AM

Property Details for 970 Magnolia Avenue

StatusSold
MLS #ML81928788
Days on Compass62
Taxes$12,263 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeOther
MLS TypeRESIDENTIAL INCOME / OTHER
Year Built1950
Lot Size0.35 AC / 15,400 SF
CountySan Mateo County

Location

Listing Courtesy of Compass, Greg Terry, DRE #00957651; Compass, Jeff Harber, DRE #01779765

Sold By Jose Denoga, Broker, Jose Chito Denoga, DRE #01008370

Add your commute

Building Information for 970 Magnolia Avenue

Stories3Residences-Year Built1950Lot Size0.35 AC / 15,400 SF

Payment Calculator

$34,067 per month

30 year fixed, 7.25% Interest

Principal and Interest

$33,045

Property Taxes

$1,022

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 970 Magnolia Avenue

Features
Features
  • Fireplace: No
  • Flooring: Carpet, Concrete, Hardwood, Laminate, Vinyl / Linoleum
  • Living SqFt: 11816
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Gas, Wall Furnace
  • Meters: Master Water, Separate Common Area, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public, Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Assigned Spaces, Attached Garage, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: Meadow Glen
  • Roof: Composition, Shingle
  • Subclass: Multiple Dwellings / Structures
  • Year Built Source: Assessor
  • Street Number: 970
  • Street Name: Magnolia
  • Street Suffix: Avenue
  • Area ID: 486
Lot / Property Details
Building Information
  • Number Of Stories: 3
  • Number of Buildings: 1
  • Structure SqFt: 11816
  • Structure SqFt Source: Assessor
  • Age: 73
Development Information
  • Zoning Detail: R3
Location Information
  • Parcel Number: 021-362-120R
  • County Name: San Mateo
  • City Name: MILLBRAE
  • City Postal ID: 34
  • Postal Code: 94030
  • Elementary School: 733
  • Elementary School District: 932
  • Middle School Text: Taylor Middle
  • High School District Text: San Mateo Union High
  • High School Text: Mills High
Lot Information
  • Foundation: Concrete Perimeter
  • Horse Property: No
  • Lot Acres: .35
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Courtyard
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 12
General Information
  • Annual Tax Amount: $12,263
  • Capitalization Rate: 3.30
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Lease, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $17,579
  • Expense Landscape: $2,750
  • Expense Maintenance: $25,284
  • Expense Management: $23,432
  • Expense Trash: $8,064
  • Expenses Other: $45,051
  • Expenses Utility: $25,675
  • Expenses Total: $160,098
  • Operating Expenses Include: Equipment - Purchase, Fee - License/Advertising, Fee - Professional Services, Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Maintenance - Capital Improvements, Maintenance - Exterminator, Maintenance - Repair, Services - Gardener, Services - Janitor, Services - Sewer, Services - Trash Removal, Utilities, Utilities - Electric, Utilities - Gas, Utilities - Water
  • Gross Rent Multiplier: 17.33
  • Income Annual Gross: $374,122
  • Income Annual Rental: $371,733
  • Income Gross Scheduled: $374,122
  • Income Other: $2,389

Property History for 970 Magnolia 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 970 Magnolia Avenue

Taxable ValueLand$506,466Additions$475,588Total$982,054
Tax Record2023$28,996 ($2,416 / month)
Home Facts
Baths1Total Finished SqFt11,816 SqFtAbove Grade Finished SqFt11,816 SqFtStories3Lot Size15,400 SqFtStyleMulti-Family Res (5+ Units)Year Built1950CountySAN MATEOAPN021-362-120

Schools near 970 Magnolia 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
Charter - 9 to 12
Rating
School
Distance
Green Hills 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 Compass, Greg Terry, DRE #00957651; Compass, Jeff Harber, DRE #01779765

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.