840 El Camino Real, Millbrae, CA 94030
List Price: $2.29M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1952
Lot Size: 5,244 sq ft
Annual Property Tax: $35,400
MLS Number: ML82049968
About This Property
Rare 6-unit multifamily investment opportunity in the heart of Millbrae. This well-maintained property features six oversized studio units, each approximately 700-750 SF, offering spacious floor plans rarely found in todays rental market. Fully occupied with strong in-place income, the property generates approximately $147,000 in annual gross rental income and nearly $90,000 in annual NOI, providing an attractive current cap rate of approximately 3.9%. Ideally located along El Camino Real, the property offers convenient access to BART, Caltrain, SFO, Highways 101 and 280, shopping, dining, and major Peninsula employment centers. Tenants pay their own PG&E, helping maintain low operating expenses and stable cash flow. One unit is currently rented below market value, presenting future upside potential through rental optimization. A desirable investment for multifamily investors and 1031 exchange buyers seeking stable income, long-term appreciation, and value-add potential in one of the Peninsulas most sought-after rental markets. Excellent commuter location with strong rental demand and limited multifamily inventory. Dont miss this rare opportunity to acquire a turnkey income-producing asset in a prime Millbrae location.
Listing provided by: Edward Tseng DRE #02013904 (408) 850-6900 etseng@kw.com, Keller Williams Thrive
Source: CRMLS, MLS #: ML82049968
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.