45 N Ellsworth Avenue, San Mateo, CA 94401
Local realty services provided by:Better Homes and Gardens Real Estate Royal & Associates



45 N Ellsworth Avenue,San Mateo, CA 94401
$1,950,000
- 4 Beds
- - Baths
- 3,290 sq. ft.
- Multi-family
- Active
Listed by:don sung
Office:colliers parrish international, inc.
MLS#:ML82014040
Source:CA_BRIDGEMLS
Price summary
- Price:$1,950,000
- Price per sq. ft.:$592.71
About this home
Excellent Opportunity Reposition or Redevelop 2 Transit-Oriented Apartment Home Units (Walk to San Mateo Cal-Train Station / Walk Score: 97). 2 Existing 2 BR/1 Bath Townhouse Units To Be DELIVERED VACANT at COE. 4 Options to Add Value: (1) Build 14 Apartment Units Up to 6-Stories, 19,080 SF (FAR: 3.0 / R-5 Zoning); (2) Build 2 Single Family Homes; (3) Renovate Interior to (2) 3 BR/3 BA Townhomes w/ $6,500/Month Rental Potential; (4) Renovate Existing Interior Units as 2 BR/1 1/4 Bath. Each Unit Offers Spacious Private Yards. Front Yard (45 N. Ellsworth) / Rear Yard (47 N. Ellsworth). Very Easy-to-Rent Units & Desirable Rental Location. Very Low Operating Costs: All Utilities Paid by Tenants (Separate Meters & Services). Easy Access to Major Technology Employers in the Mid-Peninsula: Visa, Genentech, EA, Meta, Google, Stanford, etc. Easy Access to El Camino Real, Highway 101, 92, 280. Current CAP Rate: 3.54% / Current GRM: 17. Pro-Forma CAP Rate: 5.51% / Pro-Forma GRM: 12. Building SF: 3,290 SF / Lot Size: 6,360 SF / Cost Per SF: $593/SF. Due to Favorable Zoning, Property Offers Excellent Opportunity to Purchase for Immediate Cashflow at Market Rents. Buyers Have Option to Develop Into 14-Unit Apartments or 2 Single Family Homes Now or Down the Line. Co-Listed w/ Doug Marks.
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Home facts
- Year built:1936
- Listing Id #:ML82014040
- Added:36 day(s) ago
- Updated:August 15, 2025 at 02:32 PM
Rooms and interior
- Bedrooms:4
- Living area:3,290 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Year built:1936
- Building area:3,290 sq. ft.
- Lot area:0.15 Acres
Finances and disclosures
- Price:$1,950,000
- Price per sq. ft.:$592.71
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