1129 Capuchino Ave
Burlingame, CA 94010
Sq. Feet 6,750
1109 & 1113 Haddon Drive are two beautiful apartment buildings located in highly desirable San Mateo California. These real estate assets offer an investor the unique opportunity to own and operate a centrally located property in one of the most stable, and desirable submarkets in the San Francisco Bay Area.
The buildings unit mix consists of eleven (11) one-bedroom/one-bathroom units, three (3) two-bedroom/one-bathroom units, and one (1) studio. The property has fifteen (15) on-site covered carport parking spaces, two on-site uncovered spaces, a coin-operated washer and dryer, and is separately metered for gas and electricity. The properties are situated on seperate parcels, and are located one block from the Highway 101 and one quarter of a mile from El Camino Real. The San Mateo Commons Shopping Center is locatd a short walk away and includes such fine retailers and grocers as Trader Joe’s, T.J. Maxx, The San Mateo Marriot Hotel, and The Shane Diamond Company. Adjacent to the shopping center, technology company Salesforce has its main peninsula headquarters.
San Mateo is the largest city in the San Mateo County, which is considered the high-tech enclave of Silicon Valley. It is located between Burlingame to the north, Foster City and the San Francisco Bay to the east, Belmont to the south, and Hillsborough to the west. Conveniently located, San Mateo is approximately thirty minutes from downtown San Jose, and twenty-five minutes from downtown San Francisco. Due to its central location, stable rental market, and excellent intrinsic value, San Mateo has quickly become one of the most sought after submarkets on the Peninsula.
San Mateo has a Mediterranean climate with warm, dry summers and mild, damp winters. The city is generally shielded from the Pacific Ocean by the Montara Mountain block of the Santa Cruz Mountains, but two gaps in the mountains can channel ocean weather, resulting in gusty afternoon winds that bring fog toward San Mateo in the late afternoon through early morning in the summer months. Annual precipitation averaged 18.77 inches of rainfall, falling on an average of 60 days each year.
Cap Rate: 2.23% NOI: $128,022 Livable Sq. Ft: 14,016
Built in 1958 15 units Lot Sq. Ft: 16,421