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19 East 41st Place 19 E 41st Pl 6 Unit Apartment Building $2,667,015 CAD ($444,502 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 |
$178,403
|
$72.91
|
| Other Income |
$7,696
|
$3.15
|
| Vacancy Loss |
$5,352
|
$2.19
|
| Effective Gross Income |
$180,747
|
$73.86
|
| Taxes |
$29,657
|
$12.12
|
| Operating Expenses |
$23,820
|
$9.73
|
| Total Expenses |
$53,477
|
$21.85
|
| Net Operating Income |
$127,270
|
$52.01
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $178,403 |
| Annual Per SF | $72.91 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,696 |
| Annual Per SF | $3.15 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,352 |
| Annual Per SF | $2.19 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $180,747 |
| Annual Per SF | $73.86 |
| Taxes (CAD) | |
|---|---|
| Annual | $29,657 |
| Annual Per SF | $12.12 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $23,820 |
| Annual Per SF | $9.73 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,477 |
| Annual Per SF | $21.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $127,270 |
| Annual Per SF | $52.01 |
Property Facts
| Price | $2,667,015 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $444,502 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 | $2,667,015 CAD |
| Price Per Unit | $444,502 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 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 040-073-100 | Total Assessment | $2,592,728 CAD |
| Land Assessment | $1,481,562 CAD | Annual Taxes | $29,657 CAD ($12.12 CAD/SF) |
| Improvements Assessment | $1,111,166 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
040-073-100
Land Assessment
$1,481,562 CAD
Improvements Assessment
$1,111,166 CAD
Total Assessment
$2,592,728 CAD
Annual Taxes
$29,657 CAD ($12.12 CAD/SF)
Tax Year
2025
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19 East 41st Place | 19 E 41st Pl
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