Courtesy: Compass
This completely renovated 11-unit apartment building offers the seasoned investor an opportunity to create the perfect tenancy in a low-maintenance newly renovated property. The building is offered vacant & ready for occupancy. Due to a 2020 electrical fire, the building was completely renovated, and most exterior & interior building components have been replaced including a new roof, stucco exterior, sheetrock, sprinklers, windows & doors, electrical systems, hot water heater & plumbing throughout. Lower walkways have fresh cement, upper walkways were refinished and sealed with waterproof coatings. The driveway has a fresh slurry seal, and the parking area has been re-striped. The apartments are all 2-Bedroom, 1 Bath units, ±850sf each and situated on a ±11,031sf, parcel zoned R-3. The building offers 11 carports + 6 guest parking spaces, an on-site laundry room & 12 storage closets. MLS income/expenses are estimated based on Nov 2022 appraisal.
Millbrae is located in California. Millbrae, California has a population of 23,083. Millbrae is less family-centric than the surrounding county with 35.61% of the households containing married families with children. The county average for households married with children is 35.93%.
The median household income in Millbrae, California is $141,399. The median household income for the surrounding county is $136,837 compared to the national median of $69,021. The median age of people living in Millbrae is 44.9 years.
The average high temperature in July is 69.8 degrees, with an average low temperature in January of 45.8 degrees. The average rainfall is approximately 25.3 inches per year, with 0 inches of snow per year.
