NOT LISTED FOR SALE

San Mateo, CA 94401

North Central Neighborhood

Estimated Value: $2,443,000 - $3,015,295

8 Beds
5 Baths
4,413 Sq Ft
$613/Sq Ft Est. Value

Last Sold November 22, 2019

Last sale price $2,520,000 $571 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $17,114/month

11 Days on Market

Highlights

  • City View
  • Deck
  • Balcony
  • Borel Middle School Rated A-
  • Traditional Architecture
  • Fenced

About This Home

As of November 2019

This 4 unit apartment building is Located in a well established neighborhood of San Mateo California. The building consists of 3 / 2 bedroom 1 bath, 1 / 2 bedroom 2 bath This building is now included in California State wide rent control: Tenant Protection Act of 2019

Last Agent to Sell the Property

Dave Marino

Real Property Sales, Inc. License #00967316 Listed on: 09/18/2019

Last Buyer's Agent

Dave Marino

Real Property Sales, Inc. License #00967316 Listed on: 09/18/2019

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,388

Year Built

  • 1958

Lot Details

  • 7,501 Sq Ft Lot
  • Fenced
  • Level Lot
  • Back Yard

Home Design

  • Quadruplex
  • Traditional Architecture
  • Slab Foundation
  • Wood Frame Construction
  • Tar and Gravel Roof
  • Masonry

Interior Spaces

  • 4,413 Sq Ft Home
  • 2-Story Property
  • City Views

Flooring

  • Carpet
  • Vinyl

Parking

  • 4 Carport Spaces
  • On-Street Parking

Outdoor Features

  • Balcony
  • Deck
  • Barbecue Area

Utilities

  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter
  • Sewer Within 50 Feet

Listing and Financial Details

  • Total Actual Rent $125,220
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $3,000
  • Insurance Expense $3,181
  • Maintenance Expense $1,500
  • Manager Expense $7,200
  • Utility Expense $4,408
  • Trash Expense $4,092
  • Operating Expense $46,501
  • Gross Income $122,716

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,388

Year Built

1958

Lot Details

0

Listing Details

  • Zoning: R3
  • Subclass: Fourplex
  • Style: Traditional
  • Age: 61
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4413
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1958

Interior Features

  • Living Sq Ft: 4413
  • Stories: 2
  • Flooring: Carpet, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Tar And Gravel
  • View: City
  • Yard/Grounds: Back Yard, Balcony / Patio, Bbq Area, Deck, Fenced
  • Construction Type: Masonry, Wood Frame

Garage/Parking

  • Garage Parking Features: Carport, On Street
  • Carport Min: 4

Utilities

  • Heating System: Gas, Wall Furnace
  • Sewer/Septic System: Sewer Connected, Sewer In Street

Schools

  • School District: San Mateo Union High

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.1722
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7500.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7500.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 17.37
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 3181
  • Expense Landscape: 3000
  • Expense Maintenance: 1500
  • Expense Management: 7200
  • Expenses Total: 46501
  • Expenses Utility: 4408
  • Expense Trash: 4092
  • Income Annual Gross: 122716.00
  • Income Annual Rental: 125220
  • Income Gross Scheduled: 125220
  • Income Includes: Laundry, Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Loan - Mortgage, Maintenance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Heating
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 18, 2019
Closed on
Nov 20, 2019
Sold by
Gavin Eamon K and Broughton Sinead P
Bought by
Bolghand Andrew Amin and Bolghand Nahid
Seller's Agent
Dave Marino
Real Property Sales, Inc.
Buyer's Agent
Dave Marino
Real Property Sales, Inc.
List Price
$2,175,000
Sold Price
$2,520,000
Premium/Discount to List
$345,000
15.86%
Current Estimated Value
$2,706,824

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$186,824
Original Mortgage
$1,500,000
Interest Rate
3.75%
Mortgage Type
New Conventional

Purchase Details

Listed on
Sep 18, 2019
Closed on
Oct 20, 2019
Sold by
Gavin Eamon K and Broughton Sinead P
Bought by
Bolghand Andrew Amin and Bolghand Nahid
Seller's Agent
Dave Marino
Real Property Sales, Inc.
Buyer's Agent
Dave Marino
Real Property Sales, Inc.
List Price
$2,175,000
Sold Price
$2,520,000
Premium/Discount to List
$345,000
15.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
3.75%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 12, 2012
Sold by
Gavin Laurence A
Bought by
Gavin Laurence A

Purchase Details

Closed on
May 26, 2005
Sold by
Edris Investments
Bought by
Gavin Lawrence A and Gavin Ina P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,050,000
Interest Rate
5.45%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 14, 1999
Sold by
Burke Paul P and Burke Patricia P
Bought by
Edris Investments

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$445,000
Interest Rate
7.77%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Aug 10, 1998
Sold by
Burke Paul P and Burke Patricia P
Bought by
Burke Paul P and Burke Patricia P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$174,000
Interest Rate
6.57%
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
Bolghand Andrew Amin $2,520,000 North American Title Co Inc
Gavin Laurence A -- None Available
Gavin Lawrence A $1,400,000 Commonwealth Land Title Co
Edris Investments $717,500 Old Republic Title Company
Burke Paul P -- Stewart Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bolghand Andrew Amin $1,500,000
Previous Owner Gavin Lawrence A $1,050,000
Previous Owner Edris Investments $445,000
Previous Owner Burke Paul P $174,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/22/2019 11/22/19 Sold $2,520,000 +15.9% $571 / Sq Ft
09/30/2019 09/30/19 Pending -- -- --
09/18/2019 09/18/19 For Sale $2,175,000 -- $493 / 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 $28,388 $2,120,000 $884,000 $1,236,000
2023 $28,388 $1,950,000 $813,412 $1,136,588
2022 $35,434 $2,597,028 $1,030,567 $1,566,461
2021 $34,760 $2,546,107 $1,010,360 $1,535,747
2020 $34,611 $2,520,000 $1,000,000 $1,520,000
2019 $24,042 $1,749,382 $874,691 $874,691
2018 $23,119 $1,715,082 $857,541 $857,541
2017 $20,827 $1,600,000 $800,000 $800,000
2016 $20,049 $1,575,000 $787,500 $787,500
2015 $18,887 $1,500,000 $750,000 $750,000
2014 $17,067 $1,300,000 $650,000 $650,000
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2019

    Dave Marino

    Real Property Sales, Inc.

    (650) 347-9861

    3 Total Sales

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Source: MLSListings

MLS Number: ML81769069

MLSListings

APN: 032-175-060

California San Mateo County San Mateo 94401

North Central

This home since 18 September 2019 and is currently estimated at $2,706,824, approximately $613 per square foot. This property was built in 1958. This home is a home located in San Mateo County with nearby schools including San Mateo Park Elementary, Borel Middle School, and San Mateo High School.

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