MAJOR PRICE IMPROVEMENT (Almost $2 Million Reduction!!). First Time on Market in Almost 30 Years. Convenient Location in South San Francisco: 15-min to Downtown SF, 17-min to Downtown San Mateo. Easy Access to Most SSF Biotech Employers. 5 Min to Genentech HQ. 3 Contiguous Parcels MUST BE PURCHASED TOGETHER: 21-Unit Apartment Property + 2 Single Family Homes. 1 Single Family Home (144 Gardiner Ave) Plus 2 Owner-Occupied Units (Unit 6A & 7A) Can Be Delivered Vacant at COE. Reasonable Per-Unit Price & Per SF Price for Core Peninsula Apartment Asset in Convenient Location. ADJUSTED PRICING: AVERAGE PRICE/UNIT: $223,238/UNIT. AVERAGE PRICE/FOOT: $306/SF. Master Metered for Utilities (Water, Garbage, PG & E). Good Opportunity to Implement Ratio Utility Billing Systems (RUBS). Potential to Install Laundry Room On-Site to Generate Additional Income. Current CAP Rate: 3.07% / Current GRM: 15. Pro-Forma CAP Rate: 7.53% / Pro-Forma GRM: 9. Building SF: 15,317 SF / Lot Size: 7,500 SF
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