Welcome to Paul’s Picks, a weekly segment where Paul showcases some the best deals on the market here in the Peninsula. From single-family homes and condos to 2-4 units and large apartments complexes even vacant lots. Paul closely and constantly monitors a wide arrange of product types seeking out the market opportunity that you might not have thought about. If you would like to discuss a property in more detail or find out about other properties that may fit your needs better please give me a call at (650) 348-2020.
Paul’s Pick #1 – 50 Mounds Road – San Mateo [click here for more]
For my first pick this week, I have our very own listing at 50 Mounds Road in San Mateo. This is one of the most coveted condo complexes in all of San Mateo primarily due to the average unit size of over 2000-square feet and it’s location: just a quick drive to downtown San Mateo, you’ll have all the shops and restaurants right at your fingertips. This unit in particular is one of the best that has come on the market in recent history due to its high-end remodel and the beautiful views that it enjoys. And if you are a Hillsborough or Burlingame Hills down-sizer, this is the perfect property for you, or if you’re a young professional looking for where the action’s at, don’t miss it. We’ll be open this weekend, Saturday and Sunday; say hi to Dan and Ariel for me.
Paul’s Pick #2 – 1423 Regent Street – Redwood City [click here for more]
My second pick this week is for all you investors out there. It’s a 5-unit building at West-side Redwood City at 1423 Regent Street. I absolutely love the upside potential of this building, and its unit mix with 3 2-bedroom units, a 1-bedroom unit, and a 3-bedroom 2-bathroom unit. Listed at just under 2.3, at that price, you’ll enjoy about a 5 1/4 market cap with 50% down, you’ll be earning just over 5% cash-on-cash return.
Paul’s Pick #3 – 132 McKinney Avenue – Pacifica [click here for more]
For my final pick this week, I’m taking you to 132 McKinney Avenue in Pacifica. This is for you buyers out there looking for a larger newly remodeled modern-style home. I really like the versatility of the downstairs portion of the home: great for either an in-law unit or family room. Also great for entertaining; I love the patio space and the rooftop deck. But why this is a pick is that this home is in its 6th week on the market, and it [has] just received a price reduction to a million-395. I still think they’re a little tall; I like it for about a million-3, a million-350, and I think we just have a classic case here where it was over listed. I think they started at a million-299, they would have jumped past the 1.4 mark. So take advantage of this marketing mystique and secure this home at well below 500 a square foot which for a property in this condition is absolutely unheard of here in the peninsula.