590 Lisbon St Daly City, CA 94014
590 Lisbon St Daly City, CA 94014
Price: $1,498,000
| Beds: | - |
| Baths: | - |
| Sq. Ft.: | 10,348 |
| $/Sq. Ft.: | $145 |
| Lot Size: | - |
| Property Type: | Apartments, 5-15 Units |
| Style: | Contemporary |
| Year Built: | 1971 |
| Stories: | 3 |
| View: | City Lights |
| Region: | San Mateo County/ |
Last sale:
|
Loss if sold for asking: $77,000 or 4.9%
Another apartment building up for sale, but this one is in Daly City. It seems like more and more multifamily buildings are coming up for sale, but it is tough for investors to get a loan these days since a lot of banks have cut off funding to investors entirely.
300 SAND HILL Cir #203 Menlo Park, CA 94025
300 SAND HILL Cir #203 Menlo Park, CA 94025
Price: $1,225,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 2,067 |
| $/Sq. Ft.: | $593 |
| Lot Size: | - |
| Property Type: | Condominium |
| Style: | Contemporary |
| Year Built: | 1974 |
| Stories: | 1-3 (Low Rise) |
| View: | Golf Course |
Last sale:
| Jan 17, 2007 | Sold | $1,300,000 |
Loss if sold for asking: $75,000 or 5.8%
Listing history:
| Jan 06, 2009 | Price Changed | $1,225,000 | – | MLSListings #80845325 |
This is a nice condo on a golf course, and after being listed for 2 months it’s already had a $200k price cut. There is an open house tomorrow from 1 to 4pm.
3291 BRITTAN Ave San Carlos, CA 94070
3291 BRITTAN Ave San Carlos, CA 94070
Price: $879,000
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 2,260 |
| $/Sq. Ft.: | $389 |
| Lot Size: | 7,560 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1965 |
| Stories: | 1 |
| Neighborhood: | Alder Manor |
Last sale:
| Nov 13, 2006 | Sold | $930,000 |
Loss if sold for asking: $51,000 or 5.5%
This is a brand new listing and there will be an open house on Jan 25th from 1 to 4. This is one of the cheaper homes in San Carlos in terms of price per square foot and it is in a fairly good neighborhood in the hills.
1150 GREENWOOD Ave San Carlos, CA 94070 – 13 Units
1150 GREENWOOD Ave San Carlos, CA 94070
Price: $1,448,850
| Beds: | - |
| Baths: | - |
| Sq. Ft.: | - |
| Lot Size: | 6,040 Sq. Ft. |
| Year Built: | 1960 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Howard Park |
| County: | San Mateo |
Last sale:
| Sep 30, 2005 | Sold | $1,540,000 |
Loss if sold for asking: $91150 or 3.84%
This is a 13 unit building that sold in 1988 for 760k and 1998 for 750k. If history repeats itself, it is supposed to be worth $740k now. However, San Carlos is a good area that gets decent rents, so this could be a good investment.
Multi-Family Properties in Trouble
Most multifamily properties purchased in the Peninsula in the past few years probably aren’t cash flow positive. Here are a few highlights of multifamily properties that are listing for below their last sale price now.
127 N Fremont St, San Mateo, 94401 – $11,000 below last sale price
356 Ramona Ave, San Mateo, 94401 – $201k below last sale price
150 N. Ellsworth, San Mateo, 94401 – $20k below last sale price
911 9th Ave, San Mateo, 94402 – $120k below last sale price
341 N Claremont, San Mateo, 94401 – $99k below last sale price - been on the market for over a year.
217 Vera Ave, Redwood City, 94061 – $209k below last price
These aren’t exactly very good investments at the current price points. Each has a capitalization rate of -2 to 4 percent since property tax is pretty high on some of them. I think it will take a couple more years for investment properties to get attractive again on the peninsula.
19 WOODLEAF Ave Redwood City, CA 94061 – Multimillion house rolled back to 2004
19 WOODLEAF Ave Redwood City, CA 94061
Price: $2,150,000
| Beds: | 4 |
| Baths: | 2.5 |
| Sq. Ft.: | 3,360 |
| $/Sq. Ft.: | $640 |
| Lot Size: | 0.29 Acres |
| Age (Years): | 27 |
| Year Built: | 1981 |
| Type: | Detached Single Family |
Last sale: Jun 18, 2004 $2,249,000
Loss if sold for asking: $99,000 or 4.4%
This is a very nice looking house near where I live. It is currently 4.4% below its 2004 price, but for that kind of money you can probably buy something in Atherton, Woodside, or even Hillsborough.
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