MLS#ML82065118
STATUSActive
PROPERTY TYPECommercial - Business
SCHOOLOther
Listing Courtesy of:
MJA Equity Investments, Inc.
Agency Phone: 650-241-2100
Associate Name: Jake Anthony
Listing Shown by:
Watson Realty - Central California Escrow
Agency Phone: (661) 716-5000
Property Description
MNM Realty Group is pleased to offer 14 tenant-in-common (TIC) positions in Park Laurel Apartments. Together they make up a 64.75% undivided interest in a renovated 26-unit apartment community at 710 Laurel Avenue, bordering Central Park in downtown San Mateo. Individual positions range from 0.70% to 32.00% and may be bought on their own or combined. Each is priced pro rata to a $14,950,000 property valuation ($575,000 per unit). The property has received more than $1.3 million in capital improvements, including a seismic retrofit. Eighteen of the 26 units have been fully renovated with in-unit washer/dryers, new kitchens and modern baths. Amenities include a heated pool, a rare feature in the area, and the property has a Walk Score of 97. It sits about 2 miles from Burlingame Avenue and 10 minutes from SFO. TIC positions offer investors a fractional entry into a supply-constrained Peninsula multifamily asset with remaining value-add upside as market rents continue increasing
Property Features
Property Type: Commercial - Business
Cooling: None
Heating: Wall Furnace
Lot Size: 0.53 Acres
Roof Type: Flat
Taxes: $168,000
Year Built: 1959
Feature Descriptions
Days on Site: 11
Parcel#: 034200060
Water: Public
Local Schools
School District: Other
Listed By / Shown By
Listed By
Agency Name: MJA Equity Investments, Inc.
Agent Name: Jake Anthony
Agency Phone: 650-241-2100
Shown By
Agency Title: Watson Realty - Central California Escrow
Agency Phone: (661) 716-5000
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710 Laurel Avenue | MLS# ML82065118
This commercial property located at 710 Laurel Avenue, San Mateo, CA 94401 is currently listed for sale with an asking price of $14,950,000. Laurel Avenue is located within the Other school district. Search San Mateo real estate on www.cce-escrow.com today.