840 El Camino Real, Millbrae, CA, 94030
About This Home
Rare 6-unit multifamily investment opportunity in the heart of Millbrae. This well-maintained property features six oversized studio units, each approximately 700-750 SF, offering spacious floor plans rarely found in todays rental market. Fully occupied with strong in-place income, the property generates approximately $147,000 in annual gross rental income and nearly $90,000 in annual NOI, providing an attractive current cap rate of approximately 3.9%. Ideally located along El Camino Real, the property offers convenient access to BART, Caltrain, SFO, Highways 101 and 280, shopping, dining, and major Peninsula employment centers. Tenants pay their own PG&E, helping maintain low operating expenses and stable cash flow. One unit is currently rented below market value, presenting future upside potential through rental optimization. A desirable investment for multifamily investors and 1031 exchange buyers seeking stable income, long-term appreciation, and value-add potential in one of the Peninsulas most sought-after rental markets. Excellent commuter location with strong rental demand and limited multifamily inventory. Dont miss this rare opportunity to acquire a turnkey income-producing asset in a prime Millbrae location.
Getting Around
Walker's Paradise
Very Limited Transit
Very BikeableSchools
Construction
Condition
- Year built: 1952
Materials
- Foundation: Crawl Space
- Roof: Shingle
Type & Style
- Home type: MultiFamily
- Property subType: Five Or More Units,Residential Income
Interior
Features
- Door features: Other
Heating & Cooling
- Heating features: Wall Furnace
- Cooling features: None
Interior Area
- Total structure area: 4,410
- Total interior livable area: 4,410 sqft
Property
Accessibility
- Accessibility features: Other
Details
- Parcel number: 021311170
- Zoning: unknown
- Special condition: Standard
Lot
- Lot size: 5,244 sqft
Parking
- Parking features: Carport,On Street,Exclusive Parking
- Carport: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Coastal Flooding
- Inland Flooding
How This Home’s Risks Compare
FEMA Declared Disasters in San Mateo County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $11,321 | $135,852 |
| Home Insurance * | $170 | $2,040 |
| Property Taxes | $1,175 | $14,100 |
| Electricity | $945 | $11,348 |
| Total | $13,611 | $163,332 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-24 | Price change | $2,238,888 |
| 2026-06-05 | Listed for sale | $2,288,888 |
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