$1,950,000
PENDING

45 N Ellsworth Ave San Mateo, CA 94401

Downtown San Mateo Neighborhood

Estimated payment $12,555/month

Total Views 2,489
4 Beds
4 Baths
3,290 Sq Ft
$593 Price per Sq Ft

Highlights

  • 2 Car Detached Garage
  • 5-minute walk to San Mateo
  • Washer and Dryer
  • San Mateo High School Rated A+
  • Forced Air Heating System

About This Home

Excellent Opportunity Reposition or Redevelop 2 Transit-Oriented Apartment Home Units (Walk to San Mateo Cal-Train Station / Walk Score: 97). 2 Existing 2 BR/1 1⁄4 Bath Townhouse Units To Be DELIVERED VACANT at COE. 4 Options to Add Value: (1) Build 14 Apartment Units Up to 6-Stories, 19,080 SF (FAR: 3.0 / R-5 Zoning); (2) Build 2 Single Family Homes; (3) Renovate Interior to (2) 3 BR/3 BA Townhomes w/ $6,500/Month Rental Potential; (4) Renovate Existing Interior Units as 2 BR/1 1/4 Bath. Each Unit Offers Spacious Private Yards. Front Yard (45 N. Ellsworth) / Rear Yard (47 N. Ellsworth). Very Easy-to-Rent Units & Desirable Rental Location. Very Low Operating Costs: All Utilities Paid by Tenants (Separate Meters & Services). Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 92, 280. Current CAP Rate: 3.54% / Current GRM: 17. Pro-Forma CAP Rate: 5.51% / Pro-Forma GRM: 12. Building SF: 3,290 SF / Lot Size: 6,360 SF / Cost Per SF: $593/SF. Due to Favorable Zoning, Property Offers Excellent Opportunity to Purchase for Immediate Cashflow at Market Rents. Buyers Have Option to Develop Into 14-Unit Apartments or 2 Single Family Homes Now or Down the Line. Co-Listed w/ Doug Marks.

Listing Agent

Don Sung

Colliers Parrish International, Inc. License #01935797 Listed on: 07/10/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • 1936

Parking

  • 2 Car Detached Garage
  • Uncovered Parking
  • Off-Street Parking

Home Design

  • Duplex
  • Shingle Roof

Interior Spaces

  • 3,290 Sq Ft Home
  • 2-Story Property
  • Crawl Space
  • Washer and Dryer

Additional Features

  • 6,360 Sq Ft Lot
  • Forced Air Heating System

Community Details

Overview

  • 3,290 Sq Ft Building

Building Details

  • Gardener Expense $1,800
  • Insurance Expense $6,300
  • Maintenance Expense $1,600
  • Manager Expense $7,680
  • Other Expense $1,200
  • Utility Expense $300
  • Operating Expense $43,966
  • Gross Income $112,908

Property Details

Home Type

Multi-Family

Year Built

1936

Lot Details

0

Parking

2

Listing Details

  • Zoning: RM0000
  • Subclass: Duplex
  • Age: 89
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3290
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1936

Interior Features

  • Living Sq Ft: 3290
  • Stories: 2
  • Laundry: Washer / Dryer

Exterior Features

  • Foundation: Crawl Space
  • Roof: Shingle

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 4
  • Garage Parking Features: Detached Garage, Off-Street Parking, Uncovered Parking

Utilities

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

Schools

  • School District: San Mateo Union High

Lot Info

  • Lot Acres: 0.1460
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6360.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6360.00

Rental Info

  • Existing Lease Term(s): Building Vacant
  • Gross Rent Multiplier: 16.75

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 6300
  • Expense Landscape: 1800
  • Expense Maintenance: 1600
  • Expense Management: 7680
  • Expenses Other: 1200
  • Expenses Total: 43966
  • Expenses Utility: 300
  • Income Annual Gross: 112908.00
  • Income Annual Rental: 116400
  • Income Gross Scheduled: 116400
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Insurance, Maintenance - Repair, Services - Gardener
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • Vacancy Factor: 3

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/22/2025 08/22/25 Pending -- -- --
07/10/2025 07/10/25 For Sale $1,950,000 -- $593 / Sq Ft
Source: MLSListings

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Source: MLSListings

MLS Number: ML82014040

MLSListings
California San Mateo County San Mateo 94401 Downtown San Mateo

45 N Ellsworth Ave, San Mateo, CA

This home is located at 45 N Ellsworth Ave, San Mateo, CA 94401 and is currently priced at $1,950,000, approximately $592 per square foot. This property was built in 1936. 45 N Ellsworth Ave is a home located in San Mateo County with nearby schools including Laurel Elementary School, Abbott Middle School, and San Mateo High School.

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Don Sung
Listing Agent
Don Sung
Section Image
Colliers Parrish International, Inc.
(650) 668-3451