840 El Camino Real,Millbrae, CA 94030
Millbrae, CA 94030
Description
Rare 6-unit multifamily investment opportunity in the heart of Millbrae. This well-maintained property features six oversized studio units, each approximately 700-750 SF, offering spacious floor plans rarely found in todays rental market. Fully occupied with strong in-place income, the property generates approximately $147,000 in annual gross rental income and nearly $90,000 in annual NOI, providing an attractive current cap rate of approximately 3.9%. Ideally located along El Camino Real, the property offers convenient access to BART, Caltrain, SFO, Highways 101 and 280, shopping, dining, and major Peninsula employment centers. Tenants pay their own PG&E, helping maintain low operating expenses and stable cash flow. One unit is currently rented below market value, presenting future upside potential through rental optimization. A desirable investment for multifamily investors and 1031 exchange buyers seeking stable income, long-term appreciation, and value-add potential in one of the Peninsulas most sought-after rental markets. Excellent commuter location with strong rental demand and limited multifamily inventory. Dont miss this rare opportunity to acquire a turnkey income-producing asset in a prime Millbrae location.
Details
| MLS # | ML82049968 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1952 |
| Days On Site | 94 |
| Listing Provided By | Keller Williams Thrive | Edward Tseng |
Features
| SQ Feet | 4,410 |
|---|---|
| Car Port | Yes |
| Units | 5 |
| Building(s) | 1 |
| Zoning | unknown |
| Acreage | 0.12 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Shingle |
|---|
Taxes
| Property | 35400 |
|---|
Area Information
| State | CA |
|---|---|
| County | San Mateo |
| City | Millbrae |
| Zip Code | 94030 |
| Area | 699 Not Defined |
| Listing VS Median (in 94030) | |
Price: $2,238,888 low | high Med: $4,369,444 sqft: 4,410 low | high Med: 6,171 $ / sqft: $508 low | high Med: $664 On site: 94 low | high Med: 120.5 | |
Market Activity 94030
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Learn More About This Property
| State | CA |
|---|---|
| County | San Mateo |
| City | Millbrae |
| Zip Code | 94030 |
| Area | 699 Not Defined |
| Listing VS Median (in 94030) | |
Price: $2,238,888 low | high Med: $4,369,444 sqft: 4,410 low | high Med: 6,171 $ / sqft: $508 low | high Med: $664 On site: 94 low | high Med: 120.5 | |