479 Lincoln Cir

Millbrae, CA 94030

$4,700,000
Last Sold Price
—
Beds
—
Baths
9,820 Sq. Ft.
$479 / Sq. Ft.
9,820
Sq. Ft.
$479
per Sq. Ft.
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Sold 7/5/16
Sold 7/5/16

Description

Current rents are 45-50% of market rate, and leases are all month-to-month. Massive unit sizes (1,000-1,800 sq ft) with massive upside rent potential. Located on the bend at the end of the street; a very quiet neighborhood and property layout. 479 Lincoln Circle, in Millbrae, California is a charming apartment building in the suburban Meadow Glenn Neighborhood of Millbrae. The property consists of eight (8) two-bedroom/one-bathroom units, and one (1) three-bedroom/one and a half bath unit. The units...Current rents are 45-50% of market rate, and leases are all month-to-month. Massive unit sizes (1,000-1,800 sq ft) with massive upside rent potential. Located on the bend at the end of the street; a very quiet neighborhood and property layout. 479 Lincoln Circle, in Millbrae, California is a charming apartment building in the suburban Meadow Glenn Neighborhood of Millbrae. The property consists of eight (8) two-bedroom/one-bathroom units, and one (1) three-bedroom/one and a half bath unit. The units are all over 1,000 square feet, and feature nine (9) covered parking spaces, and one (1) garage space. Located within the property is a laundry room that provides tenants access to a coin-operated washer/dryer. The tenants also have individual storage spaces located at the end of their designated parking spaces, and have separate meters for gas, and electricity.

Listing Agents

  1. Nate Gustavson

    Nate Gustavson

    Listing Agent

    Compass

    DRE #01898316

    CallTextEmail
  2. Listed by Marshall Ward • DRE #01919391 • Brokerage DRE #00662084 • Marcus & Millichap

Property Details for 479 Lincoln Circle

MLS City Name
MILLBRAE
Building Type
Other
Garage Spaces
1
Parking Spaces
0
Cross Street
Richmond Drive
LISTING UPDATED: 04/19/2017 12:08 AM

Property Details for 479 Lincoln Circle

StatusSold
MLS #ML81578123
Days on Compass38
Taxes$56,507 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1969
Lot Size0.21 AC / 9,043 SF
CountySan Mateo County
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Location

Listing Courtesy of Marcus & Millichap, Nate Gustavson, DRE #01898316; Marcus & Millichap, Marshall Ward, DRE #01919391

Sold By Tapestry Properties, Roger Fong, DRE #01313949

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Building Information for 479 Lincoln Circle

Stories-Residences-Year Built1969Building Size-Lot Size0.21 AC / 9,043 SF

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$27,616 per month

30 year fixed, 6.15% Interest

Principal and Interest

$22,907

Property Taxes

$4,709

HOA Dues

$0

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Property Information for 479 Lincoln Circle

Features
Features
  • Fireplace: No
  • Laundry: Coin Operated
  • Living SqFt: 9820
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Water On Site
Carport and Parking
  • Carport Min: 9
Garage
  • Garage and Parking: Assigned Spaces, Attached Garage, Carport
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 9
  • Area Text: Telescope Hills/Silva Ranch
  • Restrictions: None
  • Roof: Flat / Low Pitch, Rolled Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 479
  • Street Name: Lincoln
  • Street Suffix: Circle
  • Area ID: 484
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 9820
  • Structure SqFt Source: Assessor
  • Age: 47
Development Information
  • Ownership Type: Trust
  • Zoning Detail: Multifamily Residential
Location Information
  • City Limits: Yes
  • Parcel Number: 021-433-060
  • County Name: San Mateo
  • City Name: MILLBRAE
  • City Postal ID: 34
  • Postal Code: 94030
  • Elementary School: 733
  • Elementary School District: 932
  • Middle School Text: Taylor Middle
  • High School District Text: San Mateo Union High
  • High School Text: Mills High
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .21
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
Building Information
  • No Of Leased: 9
General Information
  • Annual Tax Amount: $56,507
  • Capitalization Rate: 1.39
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $6,316
  • Expense Landscape: $770
  • Expense Maintenance: $4,553
  • Expense Management: $2,400
  • Expense Trash: $5,029
  • Expenses Other: $2,849
  • Expenses Utility: $13,559
  • Expenses Total: $91,983
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - On-Site Manager, Services - Sewer, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 30.02
  • Income Annual Gross: $161,505
  • Income Annual Rental: $165,600
  • Income Gross Scheduled: $166,500
  • Income Other: $900
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 1
  • Unit 1 Number of Bedrooms: 3
  • Unit 1 Rent: $1,800
Unit 2 Information
  • Unit 2 Approx Square Footage: 1000
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $1,500
Unit Type 1
  • Unit Type1 Approx SqFt: 1820

Property History for 479 Lincoln Circle

DateEvent & SourcePriceAppreciation
Jul 5, 2016

Sold

EBRD #ML81578123

$4,700,000—
Jul 5, 2016

Sold

MLSListings #ML81578123

$4,700,000—
Jun 24, 2016

Sold (Public Record)

Public Record #575075685

$4,700,000—
May 9, 2016

Pending

MLSListings #ML81578123

—
May 9, 2016

Pending

EBRD #ML81578123

—
Apr 1, 2016

Listed (Active)

MLSListings #ML81578123

$4,998,000—
Apr 1, 2016

Listed (Active)

EBRD #ML81578123

$4,998,000—
DateEvent & SourcePrice
07/05/2016

Sold

EBRD #ML81578123

$4,700,000
07/05/2016

Sold

MLSListings #ML81578123

$4,700,000
06/24/2016

Sold (Public Record)

Public Record #575075685

$4,700,000
05/09/2016

Pending

MLSListings #ML81578123

—
05/09/2016

Pending

EBRD #ML81578123

—
04/01/2016

Listed (Active)

MLSListings #ML81578123

$4,998,000
04/01/2016

Listed (Active)

EBRD #ML81578123

$4,998,000

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

Public Records for 479 Lincoln Circle

Taxable ValueLand$1,392,699Additions$4,062,050Total$5,454,749
Tax Record2024$73,130 ($6,094 / month)
Home Facts
Baths1Total Finished SqFt9,820 SqFtAbove Grade Finished SqFt9,820 SqFtStories2Lot Size9,639 SqFtStyleMulti-Family Res (5+ Units)Year Built1969CountySAN MATEOAPN021-433-060

Schools near 479 Lincoln Circle

This home is within San Mateo Union High School District.
Rating
School
Type
Grades
Distance
Meadows Elementary School
Public - K to 5
Taylor Middle School
Public - 6 to 8
Mills High School
Public - 9 to 12
Design Tech High
Charter - 9 to 12
Rating
School
Distance
Meadows Elementary School
PublicK to 5

Taylor Middle School
Public6 to 8

Mills High School
Public9 to 12

Design Tech High
Charter9 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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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, Inc., its subsidiaries, affiliates and their agents and associated third parties 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 Marcus & Millichap, Nate Gustavson, DRE #01898316; Marcus & Millichap, Marshall Ward, DRE #01919391

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.