NOT LISTED FOR SALE

3 E 41st Place San Mateo, CA 94403

Hillsdale Neighborhood

Estimated Value: $1,459,000 - $1,608,000

4 Beds
4 Baths
2,288 Sq Ft
$672/Sq Ft Est. Value

Last Sold July 23, 2024

Last sale price $1,485,000 $649 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $8,720/month

11 Days on Market

About This Home

As of July 2024

Attention investors! Here's an exceptional opportunity awaiting your savvy eye: 4-plex unit showcasing a solid history of occupancy, with two units already updated. A potential communal backyard or private outdoor space exclusively for the lower units, elevating the property's desirability and market value to unprecedented heights. Conveniently situated between the esteemed Bay Meadows and Laurie Meadows neighborhoods, this location is an absolute magnet for discerning tenants. With renowned employers in Bay Meadows, verdant parks, and recreational spaces nearby, plus the upscale Hillsdale Shopping Center just a stone's throw away offering an abundance of retail, culinary, and entertainment options, the allure for potential renters is undeniable. Navigating the area is a breeze, as Pacific Boulevard seamlessly transitions into Delaware Street, providing effortless access to all essential destinations without the hassle of traversing El Camino. Furthermore, swift access to major thoroughfares such as Hwy 101 and 92 via this conveniently positioned back road ensures seamless connectivity for both tenants and commuters alike. While the upper deck requires some refurbishment, rest assured, plans for its renovation have already been greenlit/approved by the city.

Last Agent to Sell the Property

Chris Eckert

KW Advisors License #01456626 Listed on: 04/07/2024

KW Advisors

Last Buyer's Agent

Ricardo Giacoman

Coldwell Banker Realty License #01469399

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,366

Year Built

  • 1957

Lot Details

  • 6,164 Sq Ft Lot

Parking

  • 1 Car Garage
  • 4 Carport Spaces

Home Design

  • Quadruplex
  • Tar and Gravel Roof

Interior Spaces

  • 2,288 Sq Ft Home
  • 2-Story Property

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $81,600

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $900
  • Insurance Expense $1,700
  • Manager Expense $2,100
  • Utility Expense $2,418
  • Trash Expense $1,712
  • Operating Expense $14,458
  • Gross Income $81,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,366

Year Built

1957

Lot Details

0

Parking

1

Listing Details

  • Zoning: R4
  • Subclass: Fourplex
  • Age: 67
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2288
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1957

Interior Features

  • Living Sq Ft: 2288
  • Stories: 2

Exterior Features

  • Roof: Tar And Gravel
  • Construction Type: Wood

Garage/Parking

  • Garage Spaces: 1
  • Garage Parking Features: Carport
  • Carport Min: 4

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Acres: 0.1415
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6164.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6164.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 16.85
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1700
  • Expense Landscape: 900
  • Expense Management: 2100
  • Expenses Total: 14458
  • Expenses Utility: 2418
  • Expense Trash: 1712
  • Income Annual Gross: 81600.00
  • Income Annual Rental: 81600
  • Income Gross Scheduled: 81600
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Maintenance, Services - Gardener, Services - Trash Removal, Utilities - Hot Water, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 7, 2024
Closed on
Jun 24, 2024
Sold by
Shipley Scott C and Kabala Charles
Bought by
Lau Stephanie and Ahuja Madan
Seller's Agent
Chris Eckert
KW Advisors
Buyer's Agent
Ricardo Giacoman
Coldwell Banker Realty
List Price
$1,375,000
Sold Price
$1,485,000
Premium/Discount to List
$110,000
8%
Views
35
Current Estimated Value
$1,537,025

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$52,025
Avg. Annual Appreciation
4.00%
Original Mortgage
$1,147,500
Outstanding Balance
$1,134,811
Interest Rate
6.99%
Mortgage Type
New Conventional
Estimated Equity
$418,741
Source: Public Records

Range of Values:

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Average Value
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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
Lau Stephanie $1,485,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lau Stephanie $1,147,500
Previous Owner Shipley Scott C $475,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/23/2024 07/23/24 Sold $1,485,000 +8.0% $649 / Sq Ft
04/19/2024 04/19/24 Pending -- -- --
04/07/2024 04/07/24 For Sale $1,375,000 -- $601 / 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 $6,366 $1,485,000 $1,150,000 $335,000
2023 $6,366 $146,426 $50,602 $95,824
2022 $5,697 $143,556 $49,610 $93,946
2021 $6,149 $140,742 $48,638 $92,104
2020 $5,120 $139,300 $48,140 $91,160
2019 $5,466 $136,570 $47,197 $89,373
2018 $4,414 $133,893 $46,272 $87,621
2017 $3,235 $131,268 $45,365 $85,903
2016 $2,644 $128,695 $44,476 $84,219
2015 $4,158 $126,762 $43,808 $82,954
2014 $3,384 $124,280 $42,950 $81,330
Source: Public Records

Agents Affiliated with this Home

  • Chris Eckert

    Seller's Agent in 2024

    Chris Eckert

    KW Advisors

    (650) 627-3799

    7 in this area

    121 Total Sales

    Chris Eckert
    Section Image
  • Ricardo Giacoman

    Buyer's Agent in 2024

    Ricardo Giacoman

    Coldwell Banker Realty

    (510) 355-5992

    1 in this area

    22 Total Sales

    Ricardo Giacoman
    Section Image
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Map

Source: MLSListings

MLS Number: ML81960497

MLSListings

APN: 040-073-080

California San Mateo County San Mateo 94403 Hillsdale

3 E 41st Place, San Mateo, CA

This home is located at 3 E 41st Place, San Mateo, CA 94403 since 07 April 2024 and is currently estimated at $1,537,025, approximately $671 per square foot. This property was built in 1957. 3 E 41st Place is a home located in San Mateo County with nearby schools including George Hall Elementary School, Abbott Middle School, and Hillsdale High School.

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