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490 N Idaho ST, San Mateo, California


490 N Idaho ST, San Mateo, California 94401
- MLS® ID: ML81696153

Property Details

490 N Idaho ST, San Mateo, California 94401 - First Time on Market in 40 Years. Extremely Convenient, Central Location in Mid-Peninsula. Low Vacancy Rate & Strong Rents. Proven Performer With Solid Cashflow & Value Appreciation. Very Low Tenant Turnover Property. Low Management Responsibilities. Responsible Onsite Manager (37+ Year Tenure) Does All Leasing & All Management. Substantial Capital Improvements: New Dual Pane Windows, Seismic Retrofit for Tuck-Under Parking, Exterior Paint, Plumbing & More. Property Situated on Low-Traffic Street, Sufficient Street Offset From 101. Easy Access to Poplar Ave, El Camino Real, and Downtown San Mateo. Most Tenants on Month-to-Month Leases With Below Market Rents. Current Rents: 1 BR/1 BA - $1,950/Month, 2 BR/1 BA - $2,350/Month, Studio/1 BA - $1,500/Month All Units Offer Excellent Rental Upside. Current CAP Rate: 3.71% / Current GRM: 16. Pro-Forma CAP Rate: 4.81% / Pro-Forma GRM: 13.6. Building SF: 15,141 SF / Lot Size: 15,682 SF / Cost Per SF: $559/SF


  • Zip94401
  • CountySan Mateo
  • SQFT15141
  • StatusActive
  • Purchase TypeActive
  • Property typeCommercial
  • Zoning typeMF
  • Year built1961
  • Lot size.36
  • SewerSewer - Public
  • HeatingWall Furnace
  • CoolingNone
  • Parking0
  • MLS® IDML81696153

Listing Courtesy of Don Sung~Colliers Parrish International

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“David worked diligently selling our property. He was very aggressive when it came to finding a buyer. He's dedicated and extremely professional. I would recommend him to anyone looking to list their property in the Bay Area.”

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