1129 Capuchino Ave
Burlingame, CA 94010
Sq. Feet 6,750
430 Monte Diablo is a stunning, recently renovated, six (6) unit apartment community located in the thriving city of San Mateo, California. The subject property offers an investor the rare opportunity to purchase a turn-key, rentstabilized multifamily property situated on a corner lot, featuring two, 2-bedroom/1-bathroom units and four roomy 1- bedroom/1-bathroom units. All six units are on month-to-month rental agreements and are subject to immediate rent increases.
Currently the tenants are paying for their own utilities, water, and garbage removal services through a RUBS Landlord Reimbursement program bringing in an additional income of approximately $1,124/month! The washer/dryer machines, six (6) enclosed garage parking spaces, pet rent, and storage lockers on site also bring in additional income for the property ownership.
The subject property has recently undergone capital improvements including exterior paint and the installation of a new deck with pressured treated boards. There is a certified interior fire sprinkler system installed throughout the entire property, which helps reduce insurance costs for the current and future owners.
Cap Rate: 4.11% NOI: $113,948 Livable Sq. Ft: 3,790
Built in 1962 6 units Lot Sq. Ft: 5,400