142 Santa Lucia Ave.
Size: 6 Units
Price: $3,200,000

The Azucena Group of Marcus & Millichap is pleased to present the opportunity to acquire 142 Santa Lucia Ave., a six unit multifamily property located in San Bruno. The property presents a rare opportunity for an investor to enter the Peninsula market with a turnkey property with strong cash flow day one.

142 Santa Lucia Ave. is a six-unit multifamily property located in the center of San Bruno. The unit mix consists of (6) 2 bedroom / 1 bathroom that are approximately 835 sq ft each. The property sits on a 0.14 acre (or 6,150 sq ft) lot. Among the amenities are a laundry room, on-site covered parking, and a storage locker.

Each unit has undergone extensive renovations in the last few years. The kitchens have been upgraded with new tile flooring, granite countertops, new cabinets, tile backsplash, recessed lighting, and stainless steel appliances (select units) with exhaust hoods that vent outside. Every room has also been renovated with new flooring (varies by unit), paint, cordless blinds, and mirrored closet doors. All rooms have individually controlled wall heaters for zone heating. The exterior of the property has also been upgraded with new paint and double pane windows.

Residents at 142 Santa Lucia have easy access to many points of interest not only in San Bruno but also around the Peninsula. Millbrae Square is a short walk away and it has over 20 shops and services. The Shops at Tanforan and San Bruno Towne Center is a short drive away and it has over 100 shops, restaurants, and services while anchored by Target, Cinemarks, Barnes & Nobel, and Marshall’s. Residents are a short drive away from two CalTrain and BART stations, allowing for an easy commute to San Francisco.

The Peninsula is one of the most expensive regions in the United States and San Bruno is no exception. The average median income is $170,000 but the average home price is over $1.3 million (as of December 2021), placing homeownership out of reach for most residents. Add in its proximity to San Francisco and you have a robust tenant base.

Investment Highlights

  • Property is in a highly desired location and San Bruno has no city rent control.

  • Spacious 2 bedroom / 1 bathroom units averaging over 800 square feet each and have been renovated.

  • Kitchen has been remodeled with granite countertops, new cabinets, and stainless steel appliances with exhaust hoods that vent outside.

  • Rooms have been renovated with new flooring (varies by unit) along with new paint and lighting fixtures.

  • Property is a short drive from two CalTrain and BART stations.

  • Shops at Tanforan and San Bruno Town Square are a short drive away.