About 2830 Flores St
Magnify is pleased to present the opportunity to acquire 2830 Flores St, a fully stabilized, turnkey 17-unit apartment building in the thriving city of San Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix of large, spacious unitsideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with 15 of 17 units renovated to modern standards. With 8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.
Features of 2830 Flores St
| MLS® # | ML82024663 |
|---|---|
| Price | $8,888,000 |
| Square Footage | 15,311 |
| Acres | 0.42 |
| Year Built | 1961 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 2830 Flores St |
|---|---|
| Area | Park Western Subdivision/Hillsdale |
| City | SAN MATEO |
| County | San Mateo |
| State | CA |
| Zip Code | 94403 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters |
|---|---|
| Is Waterfront | No |
Interior
| Heating | Electric Heat, Gas Heat, Wall Furnace |
|---|---|
| Cooling | No Cooling |
| Fireplace | No |
Exterior
| Roof | Composition Roof, Shingle Roof |
|---|---|
| Foundation | Concrete Slab |
Additional Information
| Zoning | R4 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Eric Katz |
|---|---|
| Office | Magnify Real Estate |
| Contact Info | 408-317-0187 |