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Key Details
Sold Price $6,055,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81925753
Sold Date 08/25/23
HOA Y/N No
Year Built 1950
Annual Tax Amount $12,263
Lot Size 0.353 Acres
Property Description
Prominently displayed amid Millbrae's most coveted row of multi-family residential buildings, 970 Magnolia Avenue boasts unparalleled access to the shops and restaurants of downtown Millbrae, as well as transportation and highly ranked schools. Behind the buildings stately facade are Twelve sizable and well appointed residential units, some of which have benefitted from recent upgrading... A fantastic opportunity to add a pride of ownership property to your portfolio! Here are some attractive elements of this offering: 12 Units (All are 2-BR, 1-BA), 6 Garage Parking Spaces,Ample Additional On-Street Parking, 11,816 SqFt Building (per Tax Records), 15,400 SqFt Parcel (per Tax Records), Built in 1950, Gross Rental Income: $362,913.48, 100% Occupied: Ten (10) tenants are currently month-to-month with two (2) tenants on existing leases.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Composition,Shingle
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Mills
School District Other
Others
Tax ID 021362120
Financing Seller Financing
Special Listing Condition Standard
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Bought with Jose Chito Denoga • Jose Denoga, Broker
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