NOT LISTED FOR SALE

224 S Idaho St San Mateo, CA 94401

North Central Neighborhood

Estimated Value: $1,651,000 - $2,724,000

-- Bed
4 Baths
3,577 Sq Ft
$663/Sq Ft Est. Value

Last Sold October 09, 2018

Last sale price $2,250,000 $629 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $15,671/month

37 Days on Market

Highlights

  • Wood Flooring
  • Storage Room
  • Washer and Dryer
  • San Mateo High School Rated A+
  • Forced Air Heating System

About This Home

As of October 2018

This excellent investment property possesses 4 units consisting of 3,577 square feet of living space and sits on 7,860 square feet lot. Additional features include 6 assigned parking spaces, a bonus in-law unit and an on-site laundry facility. Potential Cap Rate of 5.57% makes this rare investment property a great additional to you real estate portfolio. Located in the culturally vibrant and economically prosperous City of San Mateo, makes it convenient to head to downtown San Mateo, close to public transportation, and the 101, 92, and 280 freeways.

Last Agent to Sell the Property

Disen Cai

KW Advisors License #01928373 Listed on: 07/31/2018

KW Advisors

Last Buyer's Agent

Michael Haywood Jr.

KW Advisors License #01494852

KW Advisors

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $36,505

Year Built

  • 1954

Lot Details

  • 7,850

Parking

  • 3 Car Garage
  • 3 Carport Spaces
  • Assigned Parking

Home Design

  • Flat Roof Shape

Interior Spaces

  • 3,577 Sq Ft Home
  • 2-Story Property
  • Storage Room
  • Washer and Dryer

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Additional Features

  • 7,850 Sq Ft Lot
  • Forced Air Heating System

Listing and Financial Details

  • Total Actual Rent $147,000

Community Details

Overview

  • 3,577 Sq Ft Building

Building Details

  • 6 Leased Units
  • Gardener Expense $800
  • Insurance Expense $1,838
  • Maintenance Expense $2,400
  • Utility Expense $3,800
  • Trash Expense $1,935
  • Operating Expense $37,370
  • Gross Income $145,530

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$36,505

Year Built

1954

Lot Details

0

Parking

3

Listing Details

  • Zoning: R30000
  • Subclass: Multiple Dwellings / Structures
  • Age: 64
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3577
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1954

Interior Features

  • Living Sq Ft: 3577
  • Stories: 2
  • Laundry: Washer / Dryer, Washer/Dryer - Some Units
  • Flooring: Carpet, Hardwood, Tile, Vinyl / Linoleum
  • Additional Rooms: Storage

Exterior Features

  • Roof: Flat / Low Pitch

Garage/Parking

  • Garage Spaces: 3
  • Garage Parking Features: Assigned Spaces, Covered Parking
  • Carport Min: 3

Utilities

  • Heating System: Forced Air
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: San Mateo Union High

Lot Info

  • Lot Acres: 0.1802
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7850.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7850.00

Rental Info

  • Existing Lease Term(s): Lease Agreement - Written
  • Gross Rent Multiplier: 15.31
  • Number Of Leased: 6

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1838
  • Expense Landscape: 800
  • Expense Maintenance: 2400
  • Expenses Total: 37370
  • Expenses Utility: 3800
  • Expense Trash: 1935
  • Income Annual Gross: 145530.00
  • Income Annual Rental: 147000
  • Income Gross Scheduled: 147000
  • Income Includes: Rents
  • Meters: Master Electric, Master Gas, Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 2
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - Gardener, Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Tenant Expenses: Utilities - Electric
  • Vacancy Factor: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 31, 2018
Closed on
Oct 3, 2018
Sold by
Chan Allen Lee and Chan Jill Po
Bought by
Ramil Jason and Cabie Ramil Faith
Seller's Agent
Disen Cai
KW Advisors
Buyer's Agent
Michael Haywood Jr.
KW Advisors
List Price
$2,250,000
Sold Price
$2,250,000
Current Estimated Value
$2,370,314

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$120,314
Avg. Annual Appreciation
1.31%
Original Mortgage
$1,462,500
Outstanding Balance
$1,280,613
Interest Rate
4.5%
Mortgage Type
New Conventional
Estimated Equity
$1,182,100

Purchase Details

Closed on
Jun 27, 2005
Sold by
Gilmartin Joseph Patrick and Gilmartin Julie
Bought by
Chan Allen Lee and Chan Jill Po

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$862,500
Interest Rate
1.37%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Mar 20, 2003
Sold by
Gilmartin William and Gilmartin Maureen F
Bought by
Gilmartin Joseph Patrick and Gilmartin Julie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
5.82%

Purchase Details

Closed on
Dec 19, 1994
Sold by
Theisen Gina Marie and Gilmartin Gina Marie
Bought by
Gilmartin Joseph Patrick
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Ramil Jason $2,250,000 Fidelity National Title Co
Chan Allen Lee $1,150,000 Fidelity National Title
Gilmartin Joseph Patrick -- --
Gilmartin Joseph Patrick -- Fidelity National Title
Gilmartin Joseph Patrick -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ramil Jason $1,462,500
Previous Owner Chan Allen Lee $862,500
Previous Owner Gilmartin Joseph Patrick $200,000
Previous Owner Gilmartin Joseph Patrick $25,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/09/2018 10/09/18 Sold $2,250,000 0.0% $629 / Sq Ft
09/07/2018 09/07/18 Pending -- -- --
07/31/2018 07/31/18 For Sale $2,250,000 -- $629 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $36,505 $2,509,913 $1,282,845 $1,227,068
2023 $36,505 $2,412,452 $1,233,032 $1,179,420
2022 $34,610 $2,365,150 $1,208,855 $1,156,295
2021 $32,903 $2,318,775 $1,185,152 $1,133,623
2020 $30,758 $2,295,000 $1,173,000 $1,122,000
2019 $28,804 $2,250,000 $1,150,000 $1,100,000
2018 $19,812 $1,408,816 $704,408 $704,408
2017 $19,331 $1,381,194 $690,597 $690,597
2016 $18,227 $1,354,112 $677,056 $677,056
2015 $17,150 $1,200,000 $600,000 $600,000
2014 $14,549 $1,000,000 $500,000 $500,000
Source: Public Records

Agents Affiliated with this Home

  • Disen Cai

    Seller's Agent in 2018

    Disen Cai

    KW Advisors

    (650) 622-2156

    9 in this area

    324 Total Sales

    Disen Cai
    Section Image

  • M

    Buyer's Agent in 2018

    Michael Haywood Jr.

    KW Advisors

    Section Image
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Map

Source: MLSListings

MLS Number: ML81717050

MLSListings

APN: 033-134-050

California San Mateo County San Mateo 94401 North Central

224 S Idaho St, San Mateo, CA

This home is located at 224 S Idaho St, San Mateo, CA 94401 since 31 July 2018 and is currently estimated at $2,370,314, approximately $662 per square foot. This property was built in 1954. 224 S Idaho St is a home located in San Mateo County with nearby schools including Meadow Heights Elementary School, Abbott Middle School, and San Mateo High School.

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