122 Madrid Avenue

El Granada, CA 94019

$2,100,000
Price
Beds
3,746 Sq. Ft.
$561 / Sq. Ft.
3,746
Sq. Ft.
$561
per Sq. Ft.

Description

Just a short jaunt to Surfers Beach and Princeton Harbor on Half Moon Bay! Convenient to multiple (really good!) restaurants, the famous Mavericks Big Surf venue, the Half Moon Bay Yacht Club and Half Moon Bay General Aviation Airport. And oh, BTW, a terrific community in which to raise kids! Low crime rate and good schools. This fully leased residential 4-plex includes four large 1-bedroom, 1-bath units of identical floorplans. Each unit has its own covered parking and storage closet in the shared...Just a short jaunt to Surfers Beach and Princeton Harbor on Half Moon Bay! Convenient to multiple (really good!) restaurants, the famous Mavericks Big Surf venue, the Half Moon Bay Yacht Club and Half Moon Bay General Aviation Airport. And oh, BTW, a terrific community in which to raise kids! Low crime rate and good schools. This fully leased residential 4-plex includes four large 1-bedroom, 1-bath units of identical floorplans. Each unit has its own covered parking and storage closet in the shared garage. The upstairs units have private decks, and the rear downstairs unit has a private patio. The large, shared back yard has potential for an ADU. The coin-op washer and dryer provide additional cash income for the property owner. This very well-located property has great owner-occupancy potential rent out 3 of the units and live virtually free in the 4th unit! An apartment building of 4 or fewer units, with the owner occupying one of the units, qualifies for a single-family owner-occupied loan, generally at lower than apartment rates!
  1. Listed by David Worden • DRE #00622628 • Brokerage DRE #00622628 • Windward Commercial Real Estate Services • 650-726-1031

Property Details for 122 Madrid Avenue

MLS City Name
EL GRANADA
Building Type
FOURPLEX
Garage Spaces
4
Parking Spaces
4
Cross Street
Avenue Alhambra
LISTING UPDATED: 11/07/2024 10:34 PM

Property Details for 122 Madrid Avenue

StatusActive
MLS #ML81975713
Days on Compass107
Taxes$4,468 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / Fourplex
Year Built1965
Lot Size0.14 AC / 6,250 SF
CountySan Mateo County

Building Information for 122 Madrid Avenue

Stories2Residences4Year Built1965Building Size-Lot Size0.14 AC / 6,250 SF

Property Information for 122 Madrid Avenue

Features
Room Information
  • Kitchen: Countertop - Ceramic, Exhaust Fan, Garbage Disposal, Hood Over Range, Oven Range - Electric
Features
  • Amenities: None
  • Communications: Cable TV
  • Fireplace: No
  • Flooring: Carpet, Vinyl / Linoleum
  • Living SqFt: 3746
  • Pool: No
  • Security Features: Security Lights
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Gas
  • Meters: Master Water, Separate Common Area, Separate Electric
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas
  • Water: Water On Site
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Attached Garage, Off-Street Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: Lower El Granada
  • Roof: Composition
  • Subclass: Fourplex
  • Year Built Source: Assessor
  • Street Number: 122
  • Street Name: Madrid
  • Street Suffix: Avenue
  • Area ID: 620
Lot / Property Details
Building Information
  • Number Of Stories: 2
  • Number of Buildings: 1
  • Structure SqFt: 3746
  • Structure SqFt Source: Assessor
  • Age: 59
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Trust
  • Zoning Detail: R30000
Location Information
  • City Limits: No
  • Directions: From Hwy 1 turn east on Capistrano Rd, then immediately left onto Avenue Alhambra, then immediately right onto Madrid Ave. Second property on the right.
  • Incorporated: No
  • Parcel Number: 047-045-020
  • County Name: San Mateo
  • City Name: EL GRANADA
  • City Postal ID: 18
  • Postal Code: 94018
  • Elementary School District: 924
  • High School District Text: Cabrillo Unified
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Acres: .14
  • Lot Description: Grade - Level
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Back Yard, Fenced
Multi Family Information
Building Information
  • No Of Leased: 4
General Information
  • Annual Tax Amount: $4,468
  • Building Unit Total: 4
  • Capitalization Rate: 3.67
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water
  • Income Includes: Coin Operated Equip
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $1,553
  • Expense Landscape: $1,200
  • Expense Maintenance: $2,400
  • Expense Management: $7,224
  • Expense Trash: $3,240
  • Expenses Other: $0
  • Expenses Utility: $4,920
  • Expenses Total: $25,005
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Maintenance, Miscellaneous/Other, Utilities - Electric, Utilities - Water
  • Gross Rent Multiplier: 20.59
  • Income Annual Gross: $102,000
  • Income Annual Rental: $99,600
  • Income Gross Scheduled: $102,000
  • Income Other: $2,400
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 0
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $2,100
Unit 2 Information
  • Unit 2 Approx Square Footage: 937
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 0
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $2,400
Unit 3 Information
  • Unit 3 Approx Square Footage: 937
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Half Bathrooms: 0
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $1,600
Unit 4 Information
  • Unit 4 Approx Square Footage: 937
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 1
  • Unit 4 Rent: $2,200
Unit Type 1
  • Unit Type1 Approx SqFt: 937

Property History for 122 Madrid Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 122 Madrid Avenue

Taxable ValueLand$23,975Additions$84,604Total$108,579
Tax Record2024$4,930 ($411 / month)
Home Facts
Baths4Total Finished SqFt3,746 SqFtAbove Grade Finished SqFt3,746 SqFtStories2Lot Size6,250 SqFtStyleQuadraplexYear Built1965ZoningR30000CountySAN MATEOAPN047-045-020

Schools near 122 Madrid Avenue

This home is within Cabrillo Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
El Granada Elementary School
PublicK to 5

Manuel F. Cunha Intermediate School
Public6 to 8

Half Moon Bay High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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122 Madrid Avenue is a multi-family home for sale in El Granada, CA 94019. This property was listed for sale on August 6, 2024 by Windward Commercial Real Estate Services, it's currently listed at $2,100,000. This listing's school district is Cabrillo Unified School District. Nearby schools include El Granada Elementary School, Manuel F. Cunha Intermediate School and Half Moon Bay High School. 122 Madrid Avenue is a 0-bed, 0-bath, 3,746 sqft multi-family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Windward Commercial Real Estate Services, David Worden, DRE #00622628

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.