Property Overview:
64 Laurel St is a multi-family property in San Carlos, CA, built in 1953. The building features 5 units: 4 units with 1 bedroom/1 bathroom each, and 1 unit with 2 bedrooms/1 bathroom. The total living space is 3,944 sq. ft. on a gently up-sloped 8,088 sq. ft. lot. The property includes a parking garage and is currently used as a rental property with consistent income flow.
Neighborhood Highlights:
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Crime Rate:
- Personal crime risk: 3.3% (well below state average of 11.8%)
- Property crime risk: 4.5% (below state average of 10.8%)
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Schools:
Nearby schools include Arundel Elementary, Central Middle, San Mateo County Regional Occupational Program, and San Mateo County Special Education.- Average SAT score: 1039 (534 Math, 505 English), above state average of 975.
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Job Market:
- 71.4% white-collar jobs, 28.6% blue-collar jobs
- Unemployment rate: 1.8% (lower than state average of 4.7%)
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Demographics:
- Community population: 28,104 (13% growth since 2000)
- 68% families with children
- Largest age group: 45-54 years (17.6%), second largest 35-44 years (17.2%)
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Natural Disaster Risk:
- Low flood risk, low tornado risk, high earthquake risk
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Weather:
- Average temperature: 52.1°F (January), 76.8°F (July)
- Average rainfall: 20.3 inches/year
- Average snowfall: 0 inches/year
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Cost of Living:
- Median household income: $100,859
- Average annual spending: $69,772
Property Features & Investment Potential:
- Zoning: MD-100
- Allows 14-19 condo units (subject to city zoning and design guidelines)
- Up to 23,000 sq. ft. of total buildable area possible (after setbacks, before other city requirements)
- Yield analysis and conceptual plans for 15 condo units available from local architect
- Current Use:
- 5-unit rental property providing steady income during permitting process
- Parking:
- AB 2097: No minimum parking requirements due to proximity to public transit (within 1/2 mile)
- On-site parking recommended but not required
- Lot:
- Gently up-sloped, 8,088 sq. ft.
- Nearby Amenities:
- Grocery stores: Adel Market, Holly Market, Holly Petrolium
- Coffee shops: Starbucks, Peet’s Coffee and Tea
- Restaurants: The Omelette House, Kaya Tofu & Barbeque, Kabul Afghan Cuisine
- Parks: Cedar Street Park, Hillcrest Circle Park, Laureola Park
Location Benefits:
- Prime San Carlos location: Close to shopping, restaurants, parks, and public transportation
- Great investment opportunity: Attractive gross rent multiplier and consistent income flow
- Development potential: Ideal for condo conversion or continued rental income
- Family-friendly community with excellent schools and low crime rates