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19 East 41st Place 19 E 41st Pl 6 Unit Apartment Building $2,650,050 CAD ($441,675 CAD/Unit) 4.77% 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 |
$177,268
|
$72.44
|
| Other Income |
$7,647
|
$3.13
|
| Vacancy Loss |
$5,318
|
$2.17
|
| Effective Gross Income |
$179,597
|
$73.39
|
| Taxes |
$29,469
|
$12.04
|
| Operating Expenses |
$23,668
|
$9.67
|
| Total Expenses |
$53,137
|
$21.72
|
| Net Operating Income |
$126,460
|
$51.68
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $177,268 |
| Annual Per SF | $72.44 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,647 |
| Annual Per SF | $3.13 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,318 |
| Annual Per SF | $2.17 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $179,597 |
| Annual Per SF | $73.39 |
| Taxes (CAD) | |
|---|---|
| Annual | $29,469 |
| Annual Per SF | $12.04 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $23,668 |
| Annual Per SF | $9.67 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,137 |
| Annual Per SF | $21.72 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $126,460 |
| Annual Per SF | $51.68 |
Property Facts
| Price | $2,650,050 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $441,675 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.77% | Building Size | 2,447 SF |
| Gross Rent Multiplier | 14.95 | 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 | $2,650,050 CAD |
| Price Per Unit | $441,675 CAD |
| Sale Type | Investment |
| Cap Rate | 4.77% |
| Gross Rent Multiplier | 14.95 |
| 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 | $2,572,455 CAD |
| Land Assessment | $1,469,977 CAD | Annual Taxes | $29,469 CAD ($12.04 CAD/SF) |
| Improvements Assessment | $1,102,478 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
040-073-100
Land Assessment
$1,469,977 CAD
Improvements Assessment
$1,102,478 CAD
Total Assessment
$2,572,455 CAD
Annual Taxes
$29,469 CAD ($12.04 CAD/SF)
Tax Year
2025
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19 East 41st Place | 19 E 41st Pl
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