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Listed by Adam Foley • CBRE, Inc., DRE#02144332
$1,900,000
Est. payment /mo
2 Beds
4 Baths
3,325 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,325 sqft
Price per Sqft $571
MLS Listing ID ML82061457
Bedrooms 2
Full Baths 4
Year Built 1959
Lot Size 5,789 Sqft
Property Sub-Type Fourplex
Property Description
414 E 16th Ave (the Property) is a four-unit multifamily asset built in 1959, situated on a two-story, slab-on-grade structure of stucco and wood construction in San Mateo's Hayward Park submarket. The Property features a unit mix of two (2) studio floorplans and two (2) one-bedroom/one-bathroom floorplans, averaging 775 square feet. The Property is 100% occupied as of August 2026. The Property offers a new owner a rare combination in this submarket: a fully occupied, free and clear fourplex with copper supply lines, dual-paned vinyl windows building-wide, on-site laundry, and covered tuck-under parking. In-place rents average $2,129 per unit, against market rents of $2,375 per unit, a loss-to-lease of 11.5%. A light interior renovation program, budgeted at $18,750 per unit, supports renovated rents of $2,750 per unit, or a 15.8% premium to current market. The Property's location places residents between Highway 101 and Interstate 280, within a short drive of Peninsula employers including Sony Interactive Entertainment, Roblox, GoPro, and Franklin Templeton in San Mateo, Oracle in Redwood Shores, and Meta in Menlo Park. Hillsdale Caltrain and the Bay Meadows mixed-use development are both nearby, and Hillsdale Shopping Center provides additional dining and retail options.
Location
State CA
County San Mateo
Area Hayward Park
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Covered Parking
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Shingle
Building
Story 2
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Level or Stories 2
Others
Tax ID 035-072-110
Security Features None
Horse Property No
Special Listing Condition Not Applicable
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