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Disclaimer: The distributor of this communication is performing acts for which a real estate license is required. The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
JUSTIN BAUTISTAEXECUTIVE MANAGING DIRECTOR
650.996.9384 [email protected]
CA RE LICENSE #01268331
1109 & 1113 HADDON DRIVE • SAN MATEO • CALIFORNIA 2 SEPARATE PARCELS • CAN BE PURCHASED TOGETHER OR INDIVIDUALLY
OFFERING MEMORANDUM
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JUSTIN BAUTISTA 650.996.9384
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SECTION ONE : PROPERTY INFORMATIONProperty Overview & Highlights ......................................................................3
Property Photos...................................................................................................4-7
1109 & 1113 Haddon: Combined Rent Roll & Offering Summary . 8-11
1109 Haddon Rent Roll & Offering Summary ...................................... 12-15
1113 Haddon Rent Roll & Offering Summary .......................................16-19
SECTION TWO : LOCATION INFORMATION
Aerial View............................................................................................................... 20
Area, Local, & Parcel Maps .........................................................................21-23
Companies Near San Mateo ........................................................................... 24
Top 10 San Mateo Companies .........................................................................25
Local Burlingame Biotech & High-Tech Employers ............................. 26
San Mateo / Burlingame Amenities .............................................................27
Transportation Map ............................................................................................. 28
Nearby Burlingame - Bay Area Overview ................................................ 29
SECTION THREE : COMPARATIVE ANALYSISSales Comparables .......................................................................................30-32
Sales Comparables Summary ........................................................................ 33
Sales Comparables Map.................................................................................... 34
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JUSTIN BAUTISTA 650.996.9384
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NPROPERTY OVERVIEW
PROPERTY HIGHLIGHTS• Turnkey Opportunity
• New Exterior Paint with Modern Accents
• Updated Drought Tolerant Landscaping
• Earthquake Retrofitted
• New Dual Paned Windows
• Strong in Place Rents with Upside Potential
• Ideal Rental Location:
• Moments to Bay Meadows, Cal Train, Shopping, Jobs, Freeways
• Located in a Primarily Single-Family Neighborhood
• Outstanding Fixed Rate Financing Available
1109 HADDON DRIVE• List Price: $4,000,000
• 8 units: (6) 1+1, (2) 2+1
• 5 of 8 Apartments Renovated
• Unit 1 Features In-Unit Laundry
• GRM (Current / Market): 14.56 / 13.16
• Cap Rate (Current / Market): 4.80% / 5.65%
1113 HADDON DRIVE• List Price: $3,425,000
• 7 units: (1) Studio, (5) 1+1, (1) 2+1
• 4 of 7 Apartments Renovated
• GRM (Current / Market): 16.46 / 13.59
• Cap Rate (Current / Market): 4.50% / 5.41%
• List Price: $7,425,000
• 15 units: (1) Studio, (11) 1+1, (3) 2+1
• 9 of 15 Apartments Renovated
• GRM (Current / Market): 15.56 / 13.39
• Cap Rate (Current / Market): 4.50% / 5.53%
COMBINED PROPERTIES: 1109 & 1113 HADDON DRIVE
2 Separate Parcels • Can Be Purchased Together Or Individually
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JUSTIN BAUTISTA 650.996.9384
[email protected]
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NRENT ROLL • 1109 & 1113 HADDON DRIVE COMBINED
UNIT # TYPE CURRENT RENT MARKET RENT RENOVATED PARKING SPACES
1109-1* 2+1 $3,325 $3,575 Y 1
1109-2** 1+1 $2,860 $2,860 Y 1
1109-3*** 2+1 $2,900 $3,575 Y 1
1109-4 1+1 $2,500 $2,860 Y 1
1109-5 1+1 $2,500 $2,860 Y 2
1109-6** 1+1 $2,860 $2,860 2
1109-7** 1+1 $2,860 $2,860 2
1109-8 1+1 $2,500 $2,860 2
1113-1 1+1 $2,450 $2,860 1
1113-2 1+1 $2,400 $2,860 1
1113-3 1+1 $2,860 $2,860 Y 2
1113-4 1+1 $2,400 $2,860 2
1113-5 1+1 $2,250 $2,860 Y 1
1113-6*** Studio $1,950 $3,575 Y 1
1113-7*** 2+1 $2,900 $2,195 Y 1
TOTAL 15 $39,515 $44,380 21* In Unit Washer & Dryer
** Vacant
*** Corporate Lease with Zeus
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JUSTIN BAUTISTA 650.996.9384
[email protected]
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NOFFERING SUMMARY • 1109 & 1113 HADDON DRIVE COMBINED
PROPERTY DETAILSAddress 1109 & 1113 Haddon Drive
San Mateo, CA
Price $7,425,000
Down Payment $3,400,000
Units 15
Price/Unit $495,000
Rentable Square Feet 14,016
Price/Sq Ft $530
Year Built 1958
Land Area (Sq Ft) 16,420
Current Cap Rate 4.50%
Market Cap Rate 5.53%
Current GRM 15.56
Market GRM 13.38
OPERATIONS SUMMARY CURRENT MARKET
Scheduled Gross Rent $474,180 $532,560
Vacancy 3.00% ($14,225) ($15,977)
Effective Gross Rent $459,955 $516,583
Other income $3,000 $22,200
Total Income $462,955 $538,783
Operating Expenses $25,613 $25,613
Non-Operating Expenses $99,133 $99,133
Total Expenses $128,496 $128,496
Net Operating Income $334,458 $410,287
Debt Service ($161,000) ($161,000)
Net Cash Flow 5.10% $173,458 7.33% $249,287
RENT ROLL SUMMARYTYPE UNITS % CURRENT RENT AVG. MARKET RENT
Studio 1 7% $1,950 $2,195
1+1 11 73% $2,250-2,860 $2,860
2+1 2 13% $2,900 $3,575
2+1 1 7% $3,325 $3,575
TOTAL 15 100% $39,515 $44,380
FINANCINGLoan Amount $4,025,000
Interest Rate 4.00%
Amortization 30
Monthly Payment $13,417
Details 7 year fixed. 2 Years Interst Only.
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[email protected]
OPERATIONS CURRENT MARKET
Scheduled Gross Rent $474,180 $532,560
Vacancy 3.00% ($14,225) ($15,977)
Effective Gross Rent $459,955 $516,583
Storage $0 $1,200
Laundry $3,000 $3,000
RUBS $0 $18,000
Total Income $462,955 $538,783
Repairs & Maintenance ($600/unit) $9,000 $9,000
Utilities $14,213 $14,213
Landscaping $2,400 $2,400
Operating Expenses $25,613 $25,613
Real Estate Taxes 1.11890% $83,078 $83,078
Special Assessments $11,850 $11,850
Insurance ($0.30/SF) $4,205 $4,205
Non-Operating Expenses $99,133 $99,133
Reseves ($250/unit) $3,750 $3,750
Total Expenses $128,496 $128,496
% Scheduled Gross Rent 27.10% 24.13%
Expenses/Unit $8,566 $8,566
Expenses/Sq Ft $9.17 $9.17
NET OPERATING INCOME $334,458 $410,287
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JUSTIN BAUTISTA 650.996.9384
[email protected]
CONSTRUCTION
Foundation Concrete Perimeter
Exterior Walls Stucco
Roof Pitched, Tar & Gravel
Patio/Balcony N/A
Laundry Facilities (2) Washers & (3) Dryers
Pool/Spa N/A
ATTRIBUTES
Units 15
Rentable Square Feet 14,016
Average Unit Size (Sq Ft) 934
Land Area (Sq Ft) 16,420
Year Built 1958
Parking (20) Carports, (1) Open Stall
PROPERTY DETAILSAddress 1109 & 1113 Haddon Drive
San Mateo, CA
County San Mateo
APN 035-087-270 & 280
County Use Multi Family
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NRENT ROLL • 1109 HADDON DRIVE
UNIT # TYPE CURRENT RENT MARKET RENT RENOVATED PARKING SPACES
1109-1* 2+1 $3,325 $3,575 Y 1
1109-2** 1+1 $2,860 $2,860 Y 1
1109-3*** 2+1 $2,900 $3,575 Y 1
1109-4 1+1 $2,500 $2,860 Y 1
1109-5 1+1 $2,500 $2,860 Y 2
1109-6** 1+1 $2,860 $2,860 2
1109-7** 1+1 $2,860 $2,860 2
1109-8 1+1 $2,500 $2,860 2
TOTAL 8 $22,305 $24,310 12* In Unit Washer & Dryer
** Vacant
*** Corporate Lease with Zeus
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PROPERTY DETAILSAddress 1109 Haddon Drive
San Mateo, CA
Price $4,000,000
Down Payment $1,800,000
Units 8
Price/Unit $500,000
Rentable Square Feet 7,960
Price/Sq Ft $503
Year Built 1958
Land Area (Sq Ft) 8,363
Current Cap Rate 4.80%
Market Cap Rate 5.65%
Current GRM 14.86
Market GRM 13.16
OPERATIONS SUMMARY CURRENT MARKET
Scheduled Gross Rent $267,660 $291,720
Vacancy 3.00% ($8,030) ($8,752)
Effective Gross Rent $259,630 $282,968
Other income $1,500 $12,300
Total Income $261,130 $295,268
Operating Expenses $13,107 $13,107
Non-Operating Expenses $54,015 $54,015
Total Expenses $69,122 $69,122
Net Operating Income $192,008 $226,146
Debt Service ($88,000) ($88,000)
Net Cash Flow 5.78% $104,008 7.67% $138,146
RENT ROLL SUMMARY
TYPE UNITS % CURRENT RENT AVG. MARKET RENT
1+1 6 75% $2,500-$2,860 $2,860
2+1 2 25% $2,900-3,325 $3,575
TOTAL 8 100% $22,305 $24,310
FINANCINGLoan Amount $2,200,000
Interest Rate 4.00%
Amortization 30
Monthly Payment $7,333
Details 7 year fixed. 2 Years Interest Only.
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JUSTIN BAUTISTA 650.996.9384
[email protected]
OPERATIONS CURRENT MARKET
Scheduled Gross Rent $267,660 $291,720
Vacancy 3.00% ($8,030) ($8,752)
Effective Gross Rent $259,630 $282,968
Storage $0 $1,200
Laundry $1,500 $1,500
RUBS $0 $9,600
Total Income $261,130 $295,268
Repairs & Maintenance ($600/unit) $4,800 $4,800
Utilities $7,107 $7,107
Landscaping $1,200 $1,200
Operating Expenses $13,107 $13,107
Real Estate Taxes 1.11890% $44,756 $44,756
Special Assessments $6,871 $6,871
Insurance ($0.30/SF) $2,388 $2,388
Non-Operating Expenses $54,015 $54,015
Reseves ($250/unit) $2,000 $2,000
Total Expenses $69,122 $69,122
% Scheduled Gross Rent 25.82% 23.69%
Expenses/Unit $8,640 $8,640
Expenses/Sq Ft $8.68 $8.68
NET OPERATING INCOME $192,008 $226,146
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JUSTIN BAUTISTA 650.996.9384
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CONSTRUCTION
Foundation Concrete Perimeter
Exterior Walls Stucco
Roof Pitched. Tar & Gravel
Patio/Balcony N/A
Laundry Facilities (1) Washer & (2) Dryer
Pool/Spa N/A
ATTRIBUTES
Units 8
Rentable Square Feet 7,960
Average Unit Size (Sq Ft) 995
Land Area (Sq Ft) 8,363
Year Built 1958
Parking (11) Carports & (1) Open Stall
PROPERTY DETAILSAddress 1109 Haddon Drive
San Mateo, CA
County San Mateo
APN 035-087-270
County Use Multi Family
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NRENT ROLL • 1113 HADDON DRIVE
UNIT # TYPE CURRENT RENT MARKET RENT RENOVATED PARKING SPACES
1113-1 1+1 $2,450 $2,860 1 1
1113-2 1+1 $2,400 $2,860 1 1
1113-3 1+1 $2,860 $2,860 Y 2 2
1113-4 1+1 $2,400 $2,860 2 2
1113-5 1+1 $2,250 $2,860 Y 1 1
1113-6* Studio $1,950 $3,575 Y 1 1
1113-7* 2+1 $2,900 $2,195 Y 1 1
TOTAL $17,210 $20,070 9
* Corporate Lease with Zeus
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JUSTIN BAUTISTA 650.996.9384
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PROPERTY DETAILSAddress 1113 Haddon Drive
San Mateo, CA
Price $3,425,000
Down Payment $1,600,000
Units 7
Price/Unit $489,286
Rentable Square Feet 6,056
Price/Sq Ft $566
Year Built 1958
Land Area (Sq Ft) 8,058
Current Cap Rate 4.16%
Market Cap Rate 5.41%
Current GRM 16.46
Market GRM 13.59
OPERATIONS SUMMARY CURRENT MARKET
Scheduled Gross Rent $206,520 $240,840
Vacancy 3.00% ($6,196) ($7,225)
Effective Gross Rent $200,324 $233,615
Other income $1,500 $12,300
Total Income $201,824 $244,715
Operating Expenses $12,507 $12,507
Non-Operating Expenses $45,118 $45,118
Total Expenses $59,375 $59,375
Net Operating Income $142,449 $185,340
Debt Service ($73,000) ($73,000)
Net Cash Flow 4.34% $69,449 7.02% $112,340
RENT ROLL SUMMARY
TYPE UNITS % CURRENT RENT AVG. MARKET RENT
Studio 1 14% $1,950 $2,195
1+1 5 71% $2,250-2,860 $2,860
2+1 1 14% $2,900 $3,575
TOTAL 7 100% $17,210 $20,070
FINANCINGLoan Amount $1,825,000
Interest Rate 4.00%
Amortization 30
Monthly Payment $6,083
Details 7 year fixed. 2 Years Interest Only.
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JUSTIN BAUTISTA 650.996.9384
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OPERATIONS CURRENT MARKET
Scheduled Gross Rent $206,520 $240,840
Vacancy 3.00% ($6,196) ($7,225)
Effective Gross Rent $200,324 $233,615
Laundry $1,500 $1,500
RUBS $0 $9,600
Total Income $201,824 $244,715
Repairs & Maintenance ($600/unit) $4,200 $4,200
Utilities $7,107 $7,107
Landscaping $1,200 $1,200
Operating Expenses $12,507 $12,507
Real Estate Taxes 1.11890% $38,322 $38,322
Special Assessments $4,979 $4,979
Insurance ($0.30/SF) $1,817 $1,817
Non-Operating Expenses $45,118 $45,118
Reseves ($250/unit) $1,750 $1,750
Total Expenses $59,375 $59,375
% Scheduled Gross Rent 28.75% 24.65%
Expenses/Unit $8,482 $8,482
Expenses/Sq Ft $9.80 $9.80
NET OPERATING INCOME $142,449 $185,340
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JUSTIN BAUTISTA 650.996.9384
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CONSTRUCTION
Foundation Concrete Perimeter
Exterior Walls Stucco
Roof Pitched. Tar & Gravel
Patio/Balcony N/A
Laundry Facilities (1) Washer & (2) Dryer
Pool/Spa N/A
ATTRIBUTES
Units 7
Rentable Square Feet 6,056
Average Unit Size (Sq Ft) 865
Land Area (Sq Ft) 8,058
Year Built 1958
Parking (9) Carports
PROPERTY DETAILSAddress 1113 Haddon Drive
San Mateo, CA
County San Mateo
APN 035-087-280
County Use Multi Family
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AERIAL VIEW
1109 HADDON DRIVES A N M AT E O | C A L I F O R N I A
1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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AREA MAP
1109 & 1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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LOCAL MAP
1109 HADDON DRIVES A N M AT E O | C A L I F O R N I A
1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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PARCEL MAP
1109 HADDON DRIVES A N M AT E O | C A L I F O R N I A
1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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COMPANIES NEAR SAN MATEO
SAN FRANCISCO
SOUTH SAN FRANCISCO
SAN MATEO
BURLINGAME
REDWOOD CITY
FOSTER CITY
MENLO PARK
RECENT NEW FACEBOOK LEASE AT BURLINGAME POINT
300 AIRPORT BOULEVARD BURLINGAME, CA
787,000 SF
1109 & 1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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TOP 10 SAN MATEO COMPANIES
1109 & 1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
COUNTY OF SAN MATEO MEDICAL CTR
EMPLOYEES: 1,425
CITY OF SAN MATEO
EMPLOYEES: 547
SAN MATEO UNION HIGH SCHOOL DISTRICT
EMPLOYEES: 1,026
MARKETO INC.
EMPLOYEES:410SONY INTERACTIVE
ENTERTAINMENTEMPLOYEES: 1,168
SAN MATEO FOSTER CITY UNIFIED
EMPLOYEES: 1,191
FISHER INVESTMENTS
EMPLOYEES: 423
NET SUITE INC.
EMPLOYEES: 600
SAN MATEO COUNTY BEHAVIORAL HEALTH
EMPLOYEES: 650
FRANKLIN TEMPLETON INVESTOR
EMPLOYEES: 1,055
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BIOTECH COMPANIES
HIGHTECH COMPANIES
RECENT NEW FACEBOOK LEASE AT BURLINGAME POINT
300 AIRPORT BOULEVARD BURLINGAME, CA
787,000 SF
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NEARBY BIOTECH AND HIGH-TECH EMPLOYERS
Biotech and High Tech
Companies in Burlingame
Since 2010, Burlingame’s economy has diversified substantially and it has become an attractive location for biotechnology companies owing to its proximity to South San Francisco, the birthplace of the biotechnology industry. Biotechnology companies with offices in Burlingame include: Breathometer, Cala Health, Cleave Biosciences,
Collaborative Drug Discovery, Confidence Clinical Research, Corvus Pharmaceuticals, Igenica Biotherapeutics, Kindred Biosciences, Phoenix Pharmaceuticals, and Vector Labs.
Additionally, multiple high technology firms have established offices in Burlingame due to its location between the booming technology centers of Silicon Valley to the south and San Francisco to the north. Tech companies with Burlingame offices include: Zecco.com,
Natsume, Color Genomics, CarWoo, Jobvite, DataStax, Sprint’s M2M Collaboration Center, YouWeb, OpenFeint, CrowdStar, BitGravity, Veebeam, and TellApart.
The most recent high tech firm to lease space in Burlingame is FACEBOOK. 787,000SF of office space at 300 Airport Boulevard at Burlingame Point was leased to this high tech giant.
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WASHINGTON PARK
BURLINGAME
SAN MATEO
HAYWARD PARK
SAN MATEOCENTRAL PARK
HILLSDALE
HILLSDALE SHOPPING CENTER• ALDO • American Eagle Outfitters • Andersen Bakery & Cafe• Ann Taylor - New Store • APEX by Sunglass Hut
(N3L Optics) • Apple Store, • AT&T • Aveda • Banana Republic • Barcelino • Barcelino Per Donna • Bare Minerals • Barnes & Noble Bookseller/• Starbucks • Bath & Body Works • bebe • Ben Bridge J• Blossoms Flower Shop • Body Shop, • The Boudin Sourdough
Bakery & Cafe • Brookstone • Build-A-Bear Workshop • Burger King • Caché • California Pizza Kitchen
California Welcome Ctr • Cathy Jean Shoes • Cheesecake Factory, • Chico’s • Children’s Place• Cinnabon Citibank, FSB • Claire’s • Coach • Coldwater Creek • Cost Plus World Market • Crazy 8 • DSW Shoes • Edwards Luggage • Express Foot Locker • Forever 21 • Francesca’s Collections
• Fresh Apparel • Gamestop • GAP Kids Gap | GapBody • General Nutrition Center • Godiva Chocolatier Great • Center Gymboree • H&M • Hana Grill • Harry & David • Hollister • J. Jill • Journeys Just Panini
Justice• Kay Jewelers • Kiehl’s Since 1851 • Lady Foot Locker LEGO • Nordstrom • Old Navy • Optical Illusions• Outback Steakhouse • PacSun • Panda Express • Pandora • Romano’s Macaroni Grill • Giants DugOut • Sanrio • Surprises • Saraba African Art Sears
See’s Candies • Starbucks • Sunglass Hut Swarovski • Sweet Factory • T.G.I. Friday’s e• Victoria’s Secret • Walking Company, The • Watchcare • Wells Fargo Bank Wells
Fargo Bank • Wetzel’s Pretzels • White House | Black Market • Williams-Sonoma • Winners
BRIDGEPOINTE SHOPPING CENTER• Armadillo Willy’s• Bed Bath & Beyond• BJ’s Restaurant/Brewhouse• Ethan Allen• Hallmark Cards & Gifts• Hokkaido Seafood Buffet• Home Depot• Ice Chalet• Marshalls• Mimi’s Cafe• Old Navy
• Petco• Pier 1 Imports• Red Robin• Staples• Starbucks Coffee• Target• The Sports Authority• Toys R Us• ULTA• Verizon Wireless
DOWNTOWN BURLINGAME
DOWNTOWN SAN MATEO
HILLSDALE
BAYSIDE PERFORMING ARTS
1109 & 1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
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SAN MATEO / BURLINGAME AMENITIES
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TRANSPORTATION MAP
SAN FRANCISCO CALTRAIN STATION
SOUTH SAN FRANCISCO CALTRAIN STATION
MILBRAE CALTRAIN STATION
BURLINGAME CALTRAIN STATION
SAN MATEO CALTRAIN STATION
HILLSDALE CALTRAIN STATION
BROADWAY CALTRAIN STATION
PALO ALTO CALTRAIN STATION
CALIFORNIA AVENUE CALTRAIN STATION
SAN MATEO
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SAN MATEO DEVELOPMENT
1 HILLSDALE MALL Hillsdale mall is in the process of redeveloping the 220,000 square foot space that was previously used as Sears. The new area will include a Pinstripe bowling alley which an additional four indoor and outdoor bocce courts, a bistro and quality curated wine cellar, luxury cinema operator Cinepolis, Palette Restaurant, Belcampo Market, MidiCi Neapolitan Pizza and others.
2 BAY MEADOWS The Bay Meadows development is already home to many major employers including Survey Monkey, OnepText, Guidewire, Zuora, Ten-X, Freshworks, and Workday; and has 370,000 square feet of office space available for lease. In addition to the expansive office space availability, Bay Meadows now includes 1,000 for rent and for purchase residential units, 40,000 square feet of retail space, and 18 acres of public parks.
3 HAYWARD PARK AREA
San Francisco developer Four Corners Properties locked in city approval to build 73 apartments on a site near the Hayward Park Caltrain Station. This development will neighbor the multi-phase Essex Property, Station Park Green, which includes 599 apartment units as well as office development.
4 BURLINGAME POINT – FACEBOOK
Burlingame Point, an approximately 803,000 square foot office campus, currently under construction, has agreed to lease the entire campus to Facebook. The campus includes four new Class-A office buildings with Bay views, an improved Bay Trail, a pedestrian promenade, and a safer roadway for cyclists and motorists. The project is expected to open in 2020.
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Price $8,250,000
Units 17
$/Unit $485,294
Sq Ft 13,771
$/Sq Ft $599
Unit Mix(2) Studio, (8) 1+1 (7) 2+1
Cap Rate (Current) 2.65%
Cap Rate (Market) 3.56%
GRM (Current) 17.71
GRM (Market) 20.65
COE On the Market
12830 FLORES STREET
SAN MATEO, CA
Price $4,750,000
Units 8
$/Unit $593,750
Sq Ft 8,539
$/Sq Ft $556
Unit Mix(6) 1+1, (1) 2+1, (1) 2+2
Cap Rate (Current) 3.99%
Cap Rate (Market) 4.30%
GRM (Current) 17.22
GRM (Market) 16.33
COE On the Market
2901 HILL STREET
BELMONT, CA
Price $11,880,000
Units 22
$/Unit $540,000
Sq Ft 23,819
$/Sq Ft $499
Unit Mix(8) 1+1, (12) 2+1, (1) 2+1.5, (1) 3+2
Cap Rate (Current) 4.48%
Cap Rate (Market) 4.81%
GRM (Current) 14.81
GRM (Market) 14.13
COE On the Market
31536 OXFORD STREET REDWOOD CITY, CA
Price $3,500,000
Units 6
$/Unit $583,333
Sq Ft 7,880
$/Sq Ft $444
Unit Mix (6) 2+1
Cap Rate (Current) 3.67%
Cap Rate (Market) 4.04%
GRM (Current) 17.17
GRM (Market) 15.61
COE In Escrow
41436 REGENT STREET REDWOOD CITY, CA
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SALES COMPARABLES
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Price $5,325,000
Units 9
$/Unit $591,667
Sq Ft 8,344
$/Sq Ft $638
Unit Mix (8) 1+1, (1) 2+2
Cap Rate (Current) 2.75%
Cap Rate (Market) 4.01%
GRM (Current) 22.41
GRM (Market) 15.70
COE Apr-19
71416 FLORIBUNDA AVE
BURLINGAME, CA
Price $7,935,000
Units 15
$/Unit $529,000
Sq Ft 16,738
$/Sq Ft $474
Unit Mix (3) Studio, (12) 1+1
Cap Rate (Current) 2.51%
Cap Rate (Market) 4.00%
GRM (Current) 23.57
GRM (Market) 15.74
COE Apr-19
81220 EL CAMINO REAL
BURLINGAME, CA
Price $9,030,000
Units 17
$/Unit $531,176
Sq Ft 16,814
$/Sq Ft $537
Unit Mix (3) 1+1, (14) 2+1
Cap Rate (Current) 4.07%
Cap Rate (Market) 4.28%
GRM (Current) 15.24
GRM (Market) 14.50
COE Jul-19
515 ATHERWOOD AVENUE
REDWOOD CITY, CA
Price $4,750,000
Units 8
$/Unit $593,750
Sq Ft 8,652
$/Sq Ft $549
Unit Mix (5) 1+1, (3) 2+1
Cap Rate (Current) 3.46%
Cap Rate (Market) 3.74%
GRM (Current) 18.22
GRM (Market) 16.86
COE Jun-19
63223 GLENDORA DRIVE
SAN MATEO, CA
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SALES COMPARABLES
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Price $4,470,000
Units 8
$/Unit $558,750
Sq Ft 6,195
$/Sq Ft $722
Unit Mix (4) 1+1, (4) 2+1
Cap Rate (Current) 3.64%
Cap Rate (Market) 3.93%
GRM (Current) 17.41
GRM (Market) 16.02
COE Mar-19
11621 WESSEX WAY
BELMONT, CA
Price $4,350,000
Units 6
$/Unit $725,000
Sq Ft 5,901
$/Sq Ft $737
Unit Mix(2) 1+1, (3) 2+1, (1) 2+2
Cap Rate (Current) 2.65%
Cap Rate (Market) 3.40%
GRM (Current) 25.61
GRM (Market) 18.56
COE Mar-19
1040 HOBART AVE SAN MATEO, CA
Price $4,700,000
Units 8
$/Unit $587,500
Sq Ft 11,380
$/Sq Ft $413
Unit Mix (6) 2+1, (2) 3+2
Cap Rate (Current) 3.48%
Cap Rate (Market) 4.07%
GRM (Current) 16.51
GRM (Market) 15.46
COE Apr-19
92710 MELENDY DRIVE
SAN CARLOS, CA
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SALES COMPARABLES SUMMARY
PROPERTIES PRICE UNITS $/UNIT SQ FT $/SQ FT CAP RATE GRM COE
1 2830 Flores Street San Mateo, CA $8,250,000 17 $485,294 13,771 $599 2.65% 17.71 On the Market
2 901 Hill Street Belmont, CA $4,750,000 8 $593,750 8,539 $556 3.99% 17.22 On the Market
3 1536 Oxford Street Redwood City, CA $11,880,000 22 $540,000 23,819 $499 4.48% 14.81 On the Market
4 1436 Regent Street Redwood City, CA $3,500,000 6 $583,333 7,880 $444 3.67% 17.17 In Escrow
5 15 Atherwood Avenue Redwood City, CA $9,030,000 17 $531,176 16,814 $537 4.07% 15.24 Jul-19
6 3223 Glendora Drive San Mateo, CA $4,750,000 8 $593,750 8,652 $549 3.46% 18.22 Jun-19
7 1416 Floribunda Avenue Burlingame, CA $5,325,000 9 $591,667 8,344 $638 2.75% 22.41 Apr-19
8 1220 El Camino Real Burlingame, CA $7,935,000 15 $529,000 16,738 $474 2.51% 23.57 Apr-19
9 2710 Melendy Drive San Carlos, CA $4,700,000 8 $587,500 11,380 $413 3.48% 16.51 Apr-19
10 40 Hobart Avenue San Mateo, CA $4,350,000 6 $725,000 5,901 $737 2.65% 25.61 Mar-19
11 621 Wessex Way Belmont, CA $4,470,000 8 $558,750 6,195 $722 3.64% 17.41 Mar-19
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1109 & 1113 HADDON DRIVES A N M AT E O | C A L I F O R N I A
12830 FLORES STREET
SAN MATEO, CA
2901 HILL STREET
BELMONT, CA
31536 OXFORD STREET REDWOOD CITY, CA
41436 REGENT STREET REDWOOD CITY, CA
71416 FLORIBUNDA AVE
BURLINGAME, CA
81220 EL CAMINO REAL
BURLINGAME, CA
515 ATHERWOOD AVENUE
REDWOOD CITY, CA
63223 GLENDORA DRIVE
SAN MATEO, CA
11621 WESSEX WAY
BELMONT, CA
1040 HOBART AVE SAN MATEO, CA
92710 MELENDY DRIVE
SAN CARLOS, CA
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SALES COMPARABLES MAP
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