Log In/Sign Up
Your email has been sent.
LEASED TO COUNTY OF SAN MATEO - 45 UNIT SRO 505 Cypress Ave 45 Unit Apartment Building $9,911,032 CAD ($220,245 CAD/Unit) 5.10% Cap Rate South San Francisco, CA 94080
INVESTMENT HIGHLIGHTS
- Rare Investment Opportunity to Purchase a 45 Unit SRO Hotel 100% Leased to the County of San Mateo
- 10 Year Net Lease (Except for Fire Insurance & Real Property Taxes), which Commenced on March 1st, 2022, and Expires on February 28th, 2032
- 12,587 SF Building with 45 SRO Units on a 7,680 SF Lot
- This Project is a Collaboration Between the City of South San Francisco, Telecare Corporation and Behavioral Health and Recovery Services
- 3.50% Annual Rent Increases
- The Property is Located on Cypress Ave off Airport Blvd and Lux Ave, only 4.6 Miles Away from San Francisco International Airport
EXECUTIVE SUMMARY
- Rare Investment Opportunity - 45 Unit Single Room Occupancy Hotel (SRO) Leased to the County of San Mateo.
- This Project is a Collaboration Between the City of South San Francisco, Telecare Corporation and Behavioral Health and Recovery Services, Aims to Improve the Quality of Housing for 45 Adults Living in this SRO Hotel.
- 10 Year Net Lease (Except for Fire Insurance & Real Property Taxes), which Commenced on March 1st, 2022, and Expires on February 28th, 2032.
- 3.50% Annual Rent Increases.
- 12,587 SF Building with 45 SRO Units on a 7,680 SF Lot.
- Built in 1917.
- Located in the DRC – Downtown Residential Core Zoning Designation.
- The Property is Located on Cypress Ave off Airport Blvd and Lux Ave, only 4.6 Miles Away from San Francisco International Airport.
- This Project is a Collaboration Between the City of South San Francisco, Telecare Corporation and Behavioral Health and Recovery Services, Aims to Improve the Quality of Housing for 45 Adults Living in this SRO Hotel.
- 10 Year Net Lease (Except for Fire Insurance & Real Property Taxes), which Commenced on March 1st, 2022, and Expires on February 28th, 2032.
- 3.50% Annual Rent Increases.
- 12,587 SF Building with 45 SRO Units on a 7,680 SF Lot.
- Built in 1917.
- Located in the DRC – Downtown Residential Core Zoning Designation.
- The Property is Located on Cypress Ave off Airport Blvd and Lux Ave, only 4.6 Miles Away from San Francisco International Airport.
PROPERTY FACTS
| Price | $9,911,032 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $220,245 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.10% | Building Size | 25,587 SF |
| No. Units | 45 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1917 |
| Zoning | C3 | ||
| Price | $9,911,032 CAD |
| Price Per Unit | $220,245 CAD |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 25,587 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1917 |
| Zoning | C3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Oven
- Tub/Shower
- Pantry
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 012-175-150 | Improvements Assessment | $2,796,106 CAD |
| Land Assessment | $2,796,106 CAD | Total Assessment | $5,592,212 CAD |
PROPERTY TAXES
Parcel Number
012-175-150
Land Assessment
$2,796,106 CAD
Improvements Assessment
$2,796,106 CAD
Total Assessment
$5,592,212 CAD
1 of 12
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
LEASED TO COUNTY OF SAN MATEO - 45 UNIT SRO | 505 Cypress Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.