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 – 325 Esplanade Avenue – Pacifica [click here for more]
For my first pick this week, I have a 4-unit building at 325 Esplanade Avenue in Pacifica. Now it’s important to note: the city council in Pacifica has just passed a rent and eviction moratorium, meaning all investors are steering clear of Pacifica. And rightfully so, but for someone who understands the rent control like myself, this creates opportunity. With 325 in particular, this ordinance does not affect the property that much, because 2 units will be delivered vacant, thus you will be able to achieve market-value rents instantaneously, and the other 2 units just under market-value; you will be able to generate $130,000, the gross revenue. And at 1.6, this gives you just over a 6% cap rate. Now those are rent returns I can live with.
Paul’s Pick #2 – 90 Bates Road – Hillsborough [click here for more]
For my second pick this week, I have our very own listing at 90 Bates Road in Hillsborough. This 4-bedrooom 2-bathroom home has great expansion potential down below, and is currently the lowest listed home in all of Hillsborough at 2.9. If you’re a Burlingame buyer who is pre-approved in the high 2’s. I would highly recommend checking out this home. We’ll be open from 2 to 4 this Sunday. I’ll see you then.