NOT LISTED FOR SALE

308 Vallejo Dr Millbrae, CA 94030

Mills Estates Neighborhood

Estimated Value: $2,290,596 - $2,429,000

5 Beds
4 Baths
3,848 Sq Ft
$612/Sq Ft Est. Value

Last Sold November 05, 2024

Last sale price $2,300,000 $598 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $14,681/month

81 Days on Market

Highlights

  • 3 Car Attached Garage
  • Spring Valley Elementary School Rated A-
  • Forced Air Heating System

About This Home

As of November 2024

Just reduced $100,000. Rare bay view duplex in Millbrae. Live in one and rent the other. Upper unit with 2 bedrooms, 2 bathrooms. Lower unit features huge living room dining room combination, 3 bedrooms, 2 bathrooms, 2 car garage and direct yard access. Location provides quick access to transportation and HWY 280.

Last Agent to Sell the Property

Michael Kenny

Kenny Realty License #00458981 Listed on: 07/24/2024

Co-Listed By

Evan Godfrey

Kenny Realty License #01954828

Last Buyer's Agent

George Lai

Far East Realty License #00986068

Property Details

Home Type

  • Multi-Family

Year Built

  • 1969

Lot Details

  • 6,957

Parking

  • 3 Car Attached Garage

Home Design

  • Duplex
  • Rolled or Hot Mop Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,848 Sq Ft Home
  • 2-Story Property

Additional Features

  • 6,957 Sq Ft Lot
  • Forced Air Heating System

Listing and Financial Details

  • Total Actual Rent $78,512

Community Details

Overview

Building Details

  • 2 Leased Units
  • Gardener Expense $200
  • Insurance Expense $3,666
  • Maintenance Expense $3,200
  • Manager Expense $1,125
  • Operating Expense $35,541
  • Gross Income $76,942

Property Details

Home Type

Multi-Family

Year Built

1969

Lot Details

0

Parking

3

Listing Details

  • Zoning: R10006
  • Subclass: Duplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3848
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1969

Interior Features

  • Living Sq Ft: 3848
  • Stories: 2

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Rolled Composition

Garage/Parking

  • Garage Spaces: 3
  • Garage Parking Features: Attached Garage

Utilities

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

Lot Info

  • Lot Acres: 0.1597
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6958.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6958.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 30.57
  • Number Of Leased: 2

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 3666
  • Expense Landscape: 200
  • Expense Maintenance: 3200
  • Expense Management: 1125
  • Expenses Total: 35541
  • Income Annual Gross: 76942.00
  • Income Annual Rental: 78512
  • Income Gross Scheduled: 78512
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Insurance, Maintenance, Utilities - Water
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 24, 2024
Closed on
Oct 29, 2024
Sold by
Young Gary and Young Craig
Bought by
Chang Gordon and Chang Kevin
Seller's Agent
Michael Kenny
Kenny Realty
Buyer's Agent
George Lai
Far East Realty
List Price
$2,500,000
Sold Price
$2,300,000
Premium/Discount to List
-$200,000
-8%
Views
52
Current Estimated Value
$2,354,149

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$54,149
Avg. Annual Appreciation
2.04%
Original Mortgage
$900,000
Outstanding Balance
$890,990
Interest Rate
6.09%
Mortgage Type
New Conventional
Estimated Equity
$1,463,159

Purchase Details

Closed on
Mar 23, 2012
Sold by
Young Frances
Bought by
Young Frances M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
3.5%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Chang Gordon $2,300,000 Chicago Title Company
Chang Gordon $2,300,000 Chicago Title Company
Young Frances M -- Accommodation
Young Frances -- Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chang Gordon $900,000
Closed Chang Gordon $900,000
Previous Owner Young Frances $300,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/05/2024 11/05/24 Sold $2,300,000 -4.2% $598 / Sq Ft
10/14/2024 10/14/24 Pending -- -- --
09/30/2024 09/30/24 Price Changed $2,400,000 -4.0% $624 / Sq Ft
09/30/2024 09/30/24 For Sale $2,500,000 0.0% $650 / Sq Ft
09/11/2024 09/11/24 Pending -- -- --
07/24/2024 07/24/24 For Sale $2,500,000 -- $650 / 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 $28,159 $2,300,000 $1,630,000 $670,000
2023 $28,159 $2,193,000 $1,224,000 $969,000
2022 $3,011 $230,297 $57,740 $172,557
2021 $2,980 $225,782 $56,608 $169,174
2020 $2,939 $223,468 $56,028 $167,440
2019 $2,878 $219,087 $54,930 $164,157
2018 $2,830 $214,792 $53,853 $160,939
2017 $2,696 $210,582 $52,798 $157,784
2016 $2,655 $206,454 $51,763 $154,691
2015 $2,639 $203,354 $50,986 $152,368
2014 $2,586 $199,372 $49,988 $149,384
Source: Public Records

Agents Affiliated with this Home

  • Michael Kenny

    Seller's Agent in 2024

    Michael Kenny

    Kenny Realty

    (650) 400-0393

    1 in this area

    95 Total Sales

    Michael Kenny
    Section Image
  • Evan Godfrey

    Seller Co-Listing Agent in 2024

    Evan Godfrey

    Kenny Realty

    (415) 309-7738

    1 in this area

    79 Total Sales

    Evan Godfrey
    Section Image

  • G

    Buyer's Agent in 2024

    George Lai

    Far East Realty

See All Agents

Map

Source: MLSListings

MLS Number: ML81974331

MLSListings

APN: 024-220-180

California San Mateo County Millbrae 94030 Mills Estates

308 Vallejo Dr, Millbrae, CA

Not Listed for Sale

MultiFamily

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