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Sold

970 Magnolia AVE

970 Magnolia AVE, MILLBRAE, CA 94030

$6,055,000
Prominently displayed amid Millbrae's most coveted row of multi-family residential buildings, 970 Magnolia Avenue boasts unparalleled access to the shops and restaurants of downtown Millbrae, as well as transportation and highly ranked schools. Behind the buildings stately facade are Twelve sizable and well appointed residential units, some of which have benefitted from recent upgrading... A fantastic opportunity to add a pride of ownership property to your portfolio! Here are some attractive elements of this offering: 12 Units (All are 2-BR, 1-BA), 6 Garage Parking Spaces,Ample Additional On-Street Parking, 11,816 SqFt Building (per Tax Records), 15,400 SqFt Parcel (per Tax Records), Built in 1950, Gross Rental Income: $362,913.48, 100% Occupied: Ten (10) tenants are currently month-to-month with two (2) tenants on existing leases.

11,816 Sq.Ft. LIVING AREA

0.353 Acres lot

Features & Amenities

Interior

  • Flooring Hardwood, Laminate
  • other interior Features Hardwood, Laminate

Area & Lot

  • Status Sold
  • Living Area11,816 Sq.Ft.
  • Lot Area0.353 Acres
  • MLS® IDML81925753
  • TypeMulti-Family
  • YEAR BUILT1950
  • Elementary SchoolGreen Hills Elementary
  • Middle SchoolTaylor Middle
  • High SchoolMills High
  • School DistrictSan Mateo Union High

Exterior

  • Garage Space6.0
  • water SourcePublic
  • roofComposition, Shingle
  • parkingAttached
  • HEAT TYPENatural Gas
  • sewerPublic Sewer

Financial

  • Sales Price$6,055,000
  • Zoning R3

Work With Us

Our local expertise has been integral to our success in this increasingly competitive market. With our full service marketing plan, we coordinate the preparation of each home to ensure our clients receive top dollar.