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19 East 41st Place 19 E 41st Pl 6 Unit Apartment Building $2,825,925 CAD ($470,987 CAD/Unit) 4.48% Cap Rate San Mateo, CA 94403
INVESTMENT HIGHLIGHTS
- Built in 1957, significantly renovated in 2014
- Well-maintained, turnkey asset with low deferred maintenance
- Two units feature private outdoor space (one fenced yard, one private patio)
- ± 2,447 SF building on a 7,699 SF lot
- Strong tenant demand driven by commuter and professional renter base
EXECUTIVE SUMMARY
19 E 41st Place is a well-maintained six-unit multifamily asset in the desirable San Mateo submarket. Built in 1957 and significantly renovated in 2014, the 2,447 SF building on a 7,699 SF lot features upgraded interiors, improved building systems, dual-pane windows, and refreshed exterior finishes. The property offers six spacious studio units, including one with a private yard and one with a private patio.
Operational efficiency is a key advantage, with tenants paying all utilities through RUBS, minimizing operating expenses. Additional upside includes an owner-owned on-site laundry machine and six dedicated carport parking spaces, a strong amenity in this Peninsula location.
Operational efficiency is a key advantage, with tenants paying all utilities through RUBS, minimizing operating expenses. Additional upside includes an owner-owned on-site laundry machine and six dedicated carport parking spaces, a strong amenity in this Peninsula location.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$182,174
|
$74.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,394
|
$2.20
|
| Effective Gross Income |
$176,780
|
$72.24
|
| Taxes |
$32,429
|
$13.25
|
| Operating Expenses |
$17,609
|
$7.20
|
| Total Expenses |
$50,038
|
$20.45
|
| Net Operating Income |
$126,742
|
$51.79
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $182,174 |
| Annual Per SF | $74.45 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,394 |
| Annual Per SF | $2.20 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $176,780 |
| Annual Per SF | $72.24 |
| Taxes (CAD) | |
|---|---|
| Annual | $32,429 |
| Annual Per SF | $13.25 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,609 |
| Annual Per SF | $7.20 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $50,038 |
| Annual Per SF | $20.45 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $126,742 |
| Annual Per SF | $51.79 |
PROPERTY FACTS
| Price | $2,825,925 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $470,987 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.48% | Building Size | 2,447 SF |
| Gross Rent Multiplier | 15.72 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1957 |
| Property Type | Multifamily | Parking Ratio | 1.89/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4-High Density Residenti | ||
| Price | $2,825,925 CAD |
| Price Per Unit | $470,987 CAD |
| Sale Type | Investment |
| Cap Rate | 4.48% |
| Gross Rent Multiplier | 15.72 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 2,447 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.89/1,000 SF |
| Zoning | R4-High Density Residenti |
AMENITIES
UNIT AMENITIES
- Balcony
- Granite Countertops
- Refrigerator
- Range
- Yard
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 408 |
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 040-073-100 | Total Assessment | $2,620,554 CAD |
| Land Assessment | $1,497,462 CAD | Annual Taxes | $32,429 CAD ($13.25 CAD/SF) |
| Improvements Assessment | $1,123,092 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
040-073-100
Land Assessment
$1,497,462 CAD
Improvements Assessment
$1,123,092 CAD
Total Assessment
$2,620,554 CAD
Annual Taxes
$32,429 CAD ($13.25 CAD/SF)
Tax Year
2025
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19 East 41st Place | 19 E 41st Pl
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