45 N Ellsworth Avenue, San Mateo, CA 94401 (MLS # ML82014040)

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PRICE $1,950,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE 3,290 sqft
LOT SIZE 6,360 sqft
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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 ΒΌ 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.

DAYS ON MARKET 2 LAST UPDATED 7/10/2025
YEAR BUILT 1936 COMMUNITY 699 - Not Defined
GARAGE SPACES 2.0 COUNTY San Mateo
STATUS Active PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AIR None
AIR CONDITIONING Yes
AREA 699 - Not Defined
GARAGE Yes
LOT 6360 sq ft
PARKING Off Street
SEWER Public Sewer
STORIES 2
TAXES 25086
WATER Public
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Listed with Colliers Parrish International, Inc.

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