970 Magnolia AVE

MILLBRAE, CA, 94030

$6,485,000

$548 per ft²
$6,485,000
$548 per ft²
Active
Active
 - For Sale
carpenters-square
11,816 ft²
property_type
Commercial
calendar
Built 1950
Prominently displayed amid Millbraes 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 sizable and well appointed residential units, many 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 Parking Spaces, Ample Additional On-Street Parking, 11,816 SqFt Building (per Tax Records), 15,400 SqFt Parcel (per Tax Records), Built in 1950, Gross Rental Income: $348,637.44, 100% Occupied: Seven tenants are currently month-to-month with Five tenants on existing leases.
MLS® ID:
ML81894848
Updated:
8/11/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Concrete, Hardwood, Laminate, Vinyl / Linoleum
Cooling
None
Heating
Gas, Wall Furnace

Exterior/Building Features

Lot Size
0.35 acres lot
Roof
Composition, Shingle
Sewer
Sewer - Public, Sewer Connected

Other Property Details

Area Name
486
Garage
Yes
Garage Spaces
6
Parking
Assigned Spaces, Attached Garage, On Street
View
Y
County
San Mateo
Utilities
Individual Electric Meters, Individual Gas Meters, Public Utilities
Water Source
Public
Pool
Yes
Zoning
R3

Property History

Date
Event
Price
Value
7/27/22
Price Change
$6,485,000
-5%

 

Courtesy of Gregory Terry, Compass

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Data last updated 1:49 AM UTC, 8/11/22

 

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