ASCENSION HEIGHTS
FOR SALE
19 LOT SFD RESIDENTIAL SUBDIVISION І SAN MATEO, CA AFFILIATED BUSINESS DISCLOSURE benefit in determining whether you desire to including leases and other materials, in express further interest in the acquisition of summary form. These summaries may not be CBRE, Inc. operates within a global family of the Property, (ii) you will hold it in the strictest complete nor accurate descriptions of the full companies with many subsidiaries and related confidence, (iii) you will not disclose it or its agreements referenced. Additional information entities (each an “Affiliate”) engaging in a broad contents to any third party without the prior and an opportunity to inspect the Property range of commercial real estate businesses written authorization of the owner of the may be made available to qualified prospective including, but not limited to, brokerage services, Property (“Owner”) or CBRE, Inc., and (iv) you purchasers. You are advised to independently property and facilities management, valuation, will not use any part of this Memorandum in any verify the accuracy and completeness of investment fund management and development. manner detrimental to the Owner or CBRE, Inc. all summaries and information contained At times different Affiliates, including CBRE Global herein, to consult with independent legal and Investors, Inc. or Trammell Crow Company, may If after reviewing this Memorandum, you have financial advisors, and carefully investigate the have or represent clients who have competing no further interest in purchasing the Property, economics of this transaction and Property’s interests in the same transaction. For example, kindly return it to CBRE, Inc. suitability for your needs. ANY RELIANCE ON Affiliates or their clients may have or express THE CONTENT OF THIS MEMORANDUM IS an interest in the property described in this DISCLAIMER SOLELY AT YOUR OWN RISK. Memorandum (the “Property”), and may be the successful bidder for the Property. Your This Memorandum contains select information The Owner expressly reserves the right, at its receipt of this Memorandum constitutes your pertaining to the Property and the Owner, and sole discretion, to reject any or all expressions of acknowledgement of that possibility and your does not purport to be all-inclusive or contain interest or offers to purchase the Property, and/ agreement that neither CBRE, Inc. nor any all or part of the information which prospective or to terminate discussions at any time with or Affiliate has an obligation to disclose to you investors may require to evaluate a purchase of without notice to you. All offers, counteroffers, such Affiliates’ interest or involvement in the sale the Property. The information contained in this and negotiations shall be non-binding and or purchase of the Property. In all instances, Memorandum has been obtained from sources neither CBRE, Inc. nor the Owner shall have however, CBRE, Inc. and its Affiliates will act believed to be reliable, but has not been verified any legal commitment or obligation except as in the best interest of their respective client(s), for accuracy, completeness, or fitness for any set forth in a fully executed, definitive purchase at arms’ length, not in concert, or in a manner particular purpose. All information is presented and sale agreement delivered by the Owner. detrimental to any third party. CBRE, Inc. and its “as is” without representation or warranty of Affiliates will conduct their respective businesses any kind. Such information includes estimates in a manner consistent with the law and all based on forward-looking assumptions relating © 2019 CBRE, Inc. All Rights Reserved. fiduciary duties owed to their respective client(s). to the general economy, market conditions, competition and other factors which are subject CONFIDENTIALITY AGREEMENT to uncertainty and may not represent the current or future performance of the Property. All Your receipt of this Memorandum constitutes references to acreages, square footages, and your acknowledgement that (i) it is a confidential other measurements are approximations. This Memorandum solely for your limited use and Memorandum describes certain documents, TABLE OF CONTENTS ASCENSION HEIGHTS 04 Executive Summary
CONTACT INFORMATION 10 Property Overview Bruce M. Paris Vice President Lic. 00644232 T 650 577 2933 [email protected]
Investment Properties | NLSG 14 Area Overview CBRE | Capital Markets 1450 Chapin Avenue, 2nd Floor Burlingame, CA 94010 32 Comparables EXECUTIVE SUMMARY ASCENSION HEIGHTS І 6 CONFIDENTIAL MEMORANDUM
This confidential Offering Memorandum (“Memorandum”) Prospective purchasers are encouraged to seek advice from their own attorneys, accountants, is being given to you for the sole purpose of evaluating engineering, environmental, and other experts regarding this offering. the possible acquisition of Ascension Heights, San Mateo, California, (the “Property”) and is not to be used Owner expressly reserves the right, at its sole discretion, to reject any offer to purchase for any other purpose or made available to any other the Property or to terminate any negotiations with any party at any time with or without party without the prior written consent of Owner, or CB written notice. Owner shall have no legal commitment or obligation to any prospective Richard Ellis, Inc. purchaser unless and until a written sale agreement has been fully executed, delivered and approved by Owner and any conditions to Owner’s obligations hereunder have been This Memorandum was prepared by Broker based on satisfied or waived. information supplied by Owner. It contains selected information about the Property and the real estate market Owner has retained Broker as its exclusive broker and will be responsible for any but does not contain all the information necessary to commission due to Broker in connection with a sale of the Property pursuant to separate evaluate the acquisition of the Property. The financial agreement. Broker is not authorized to make any representation or agreement on projections contained herein are for general reference only. behalf of Owner. They are based on assumptions relating to the general economy and local competition, among other factors. This Memorandum is the property of Owner and Broker and may be used only by parties Accordingly, actual results may vary materially from such approved by Owner or Broker. No portion of this Memorandum may be copied or otherwise projections. Various documents have been summarized reproduced or disclosed to anyone except as approved by Owner or Broker. herein to facilitate your review; these summaries are not intended to be a comprehensive statement of the terms or legal analysis of such documents.
While the information contained in this Memorandum is believed to be reliable, neither Broker nor Owner guarantees its accuracy or completeness. Because of the foregoing and since the Property will be sold on an “As Is, Where Is” basis, a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum. 7 І Executive Summary
SAN MATEO COUNTY COMMUNITY COLLEGE DISTRICT
ASCENSION HEIGHTS
PARROTT DR
ASCENSION ROAD BEL AIRE STREET
VALLEY VIEW CT
POLHEMUS RD ASCENSION HEIGHTS І 8 OFFERING SUMMARY
Ascension Road & Bel Aire Address Street, San Mateo, California
Project Area 13.25 Acres
Occupancy Vacant & Undeveloped
Offering Price Withheld
Full Approved Tentative Map & Entitlements Conditions of Approval
INVESTMENT HIGHLIGHTS
Assessor’s Parcel No. # 041-111-130, 160, 270, 280, 320 & 360
Zoning R-1/S-8/PUD
General Plan Medium/Low Density Residential 9 І Executive Summary PROPERTY OVERVIEW ASCENSION HEIGHTS І 12
PROPERTY OVERVIEW
SUMMARY
Address Ascension Heights, San Mateo, California
County San Mateo
Parcel numbers 041-111-130; 041-111-160; 041-111-270; 041-111-280; 041-111-320; 041-111-360;
Total land area 13.25 Acres
Zoning R-1/S-8/PUD
Confidentiality Agreement and Due Diligence Access A website containing documents and additional information about the property has been set up. Please contact us if you would like to receive a link to the Confidentiality Agreement and access to the due diligence site. 13 І Property Overview
SITE DESCRIPTION
Ascension Heights is an approved Tentative Map Subdivision representing 19 single family detached home lots to be developed upon a 13.25-acre greenfield hilltop parcel situated within the “San Mateo Highlands”, an unincorporated area of San Mateo County. Most recently and pursuant to the “Conditions of Approval” for the Ascension Heights Subdivision tentative map, the project applicant submitted a landscape plan for review and approval by the San Mateo County Planning Commission. At their December 12, 2018 meeting. The final landscape plan was subsequently approved February 27, 2019 thereby precipitating an un appealable Tentative Subdivision which is now vertical ready and poised for success. AREA OVERVIEW ASCENSION HEIGHTS І 16
SAN FRANCISCO BAY AREA
The greater San Francisco Bay Area region has long been recognized as one of the world’s pre-eminent financial and commercial regions, and now as the ASCENSION HEIGHTS center of the global technology revolution. The region’s intrinsic qualities include a strong multi- faceted economy, strategic access to the Pacific Rim, a significant presence in financial markets, and a robust tourist trade. Its varying geography, cultures, and climates present exceptional scenic beauty and a broad array of choices for a high quality lifestyle for its nearly seven million residents. 17 І Area Overview
The Bay Area is comprised of five distinct regions. Central to the entire region is the city of San Francisco. It is bordered to the south by the San Francisco Peninsula, which includes San Mateo County. Immediately north, across the Golden Gate Bridge, is Marin County with Sonoma and Napa Counties slightly farther northeast. To the east of San Francisco across the Bay Bridge lie the East Bay with Alameda and Contra Costa Counties. Finally, at the south end of San Francisco Bay is the South Bay region, also known as Silicon Valley, in Santa Clara County.
The San Francisco Bay Area boasts one of the nation’s most educated populations. According to the American City Business Journals, San Francisco, San Jose, and Oakland were among the top ten metropolitan areas with the highest percentage of adults awarded bachelor’s degrees or higher. The region has produced 29 Nobel Laureates and more patents per worker than any other area of the country. These academic achievements are greatly influenced by the region’s renowned education and research facilities including Stanford University, the University of California at Berkeley, and the University of San Francisco. ASCENSION HEIGHTS І 18
ECONOMIC OVERVIEW
According to Projections 2000, a publication prepared by the Association of Bay Area Governments (ABAG), the area ranks as the fifth most populated in the United States with an estimated 7.7 million people and 4.2 million employed residents. The San Francisco MSA (Marin, San Francisco, and San Mateo Counties) boasts an October 2019 unemployment rate of 2.4%, which is less than the national average of 3.6%, and California’s 4.6%. Total regional job growth is forecasted at 8.8% with the top three sectors being Services, Wholesale, Trade, and Technology. According to ABAG, the Bay Area’s population will grow by 1.8 million people in the next 20 years and the economy will produce a nearly equal number of jobs. 19 І Area Overview
Since the mid-1980s, the region’s stability has been vastly broadened by the powerful emergence of a new economy. The original economy was the market • the SF Peninsula and its submarkets based in San Francisco in the financial and service sectors. With the emergence of Silicon Valley, the Bay Area economy now includes a broad array of major business sectors as well as an expanded geographic base. From San Jose to San Francisco and Emeryville, there is now a significant concentration of some of the world’s leading technological and biomedical companies on both sides of the Bay. There is no longer one dominant sector of the economy. The Internet has opened a variety of opportunities for hundreds of new, high-growth companies that build and service its infrastructure, content, applications, services, and e-commerce for both business and consumers.
The San Francisco Bay Area has all the ingredients for economic dominance as we enter this new millennium: world class educational facilities, a highly-skilled and educated workforce, entrepreneurial spirit, a wealth of venture capital to invest, and a superior quality of life will ensure its continuing prosperity. ASCENSION HEIGHTS І 20
INTRINSIC QUALITIES OF THE CENTRAL PENINSULA MARKET
The Southern Peninsula maintains several unique qualities that have contributed to its highly desirable location for businesses of all types. These qualities will remain well into the foreseeable future and include:
STRATEGIC LOCATION AND ACCESS The Peninsula’s near-equidistant location between San Francisco and San Jose allows convenient access to both markets to maximize employee recruiting. In addition, the East Bay communities are easily reached via the San Mateo, Dumbarton, and Bay Bridges. Major freeways such as U.S. Highway 101, Highway 280, and Highway 92, contribute to the Peninsula’s easy accessibility. 21 І Area Overview
SAN FRANCISCO INTERNATIONAL AIRPORT The proximity of a major airport is considered an essential element of today’s international commerce. Many tenants specify convenient airport access as a key requirement in site selection. The San Francisco International Airport is currently the fifth busiest airport in the United States and the ninth busiest airport in the world. SFO’s $2.8 billion expansion is complete.
Designed to accommodate increased domestic and international passenger and cargo traffic growth, the expansion includes a new international terminal, an airport light rail system (AirTrain), elevated ingress/ egress roadways, parking facilities, and a consolidated Rental Car Center. SFO currently serves over 40 million passengers annually, although the 2006 forecast project an increase to 51 million, including a 70% increase in Pacific Rim travelers.
BART Further facilitating passenger access to and from the Airport is the extension of the Bay Area Rapid Transit (BART) lines. Originally designed to serve the eastern and northern portions of the Bay Area, the $2.5 billion extension to SFO is a significant new amenity for San Mateo County.
The BART Airport extension includes four new stations with locations in South San Francisco, San Bruno, and Millbrae The Millbrae station is an inter-modal station connecting BART with Caltrain and SamTrans, which serve passengers from San Jose to San Francisco. ASCENSION HEIGHTS І 22
HIGH QUALITY LOCAL WORKFORCE Many companies believe that the high quality of the Peninsula’s workforce is the most important consideration in site selection. No other market in the world has the high concentration of mature workers experienced in high technology industries. This is especially important to emerging technology and science industries.
VENTURE CAPITA The Bay Area, in general, and Silicon Valley, in particular, are main magnets for venture capital in the world. According to VentureOne Corp., in the 3rd quarter 2000, local high-tech companies attracted approximately $6.6 billion in venture capital representing one-third of all venture capital dollars invested in U.S. companies and an increase from the $6.2 billion invested during the 2nd quarter. 23 І Area Overview
According to a separate report prepared by Venture Economics, venture capital invested in northern California companies in the 3rd quarter was $8.4 billion with 218 Santa Clara companies receiving $3.8 billion; 98 San Mateo County companies receiving $1.7 billion; 97 San Francisco companies receiving $1.6 billion; and 64 Alameda County companies winning $1.3 billion. During this quarter, Internet and communications infrastructure companies received the majority of venture capital funds. Venture Economics reports local Internet-related companies received $6.4 billion, or 74% of the total. Although business to consumer Internet companies are no longer attracting new investment capital, numerous other technology firms have received venture funding. This has resulted in only a slight decrease in the amount of new venture capital investment.
SERVICE AND SUPPORT INFRASTRUCTURE The abundance of venture capital and the funds they have invested in Peninsula-based companies has spawned a tremendous support infrastructure. Numerous internationally recognized law firms, specializing in patent, trademark, financial and regulatory law were founded here and provide an important support to the fast growth of high tech and biotech firms from start-up through IPO and beyond. In addition, most major accounting, financial management, and business-consulting firms have major operations on the Peninsula or in San Francisco. This confluence of support and services gives an unequalled advantage to the Bay Area when compared to other metropolitan areas in the United States. ASCENSION HEIGHTS І 24
PRESTIGIOUS RESEARCH CENTERS The proximity to several of the nation’s most prestigious universities contributes to the area’s commerce. In fact, the San Francisco Bay Area leads the nation in its per capita inventory of research centers. The private/ public interaction between area employers and the research facilities at Stanford University, University of California at Berkeley, University of San Francisco, UC San Francisco Medical Center and others provides an intense research and development environment for new product creation. This unique private/public sector cooperation has made possible many of the technological advances that local companies have brought to commercial reality. 25 І Area Overview
PALO ALTO Located at the southern end of the Peninsula, Palo Alto is considered the birthplace of Silicon Valley. Home to Stanford University and Stanford Research Park, Palo Alto’s office market inventory has nearly 6 million square feet and commands annual rental rates from $9.00 to $14.00 per square foot, making it by far the most expensive suburban market in the world. The Stanford Research Park covers approximately 800 acres and contains approximately 9.6 million square feet of office and R&D facilities. Palo Alto’s name recognition and talented labor pool at Stanford University are strengths for this sub market, but high rents, and lack of expansion space, have driven tenants into markets south in San Jose and north up the Peninsula.
FINANCIAL CENTERS Metropolitan San Francisco’s long time position as the financial center of the West Coast enables it to serve as an international hub of information and commerce. The Peninsula contributes to and is the recipient of the benefits that accrue from San Francisco’s financial center status. In addition to San Francisco’s more traditional financial institutions, Sand Hill Road in Menlo Park is widely recognized as ground zero for the wealth of venture capital funding fueling the Internet revolution. ASCENSION HEIGHTS І 26
THE MARKET USER BASE IN THE SF PENINSULA
USER BASE IN THE SAN FRANCISCO PENINSULA As noted, the Peninsula’s location midway between San Francisco and Silicon Valley has made it an ideal location to attract employees from throughout the Bay Area. Another factor that contributes to the Peninsula market’s long-term vitality is its abundant variety of businesses that populate the Peninsula market. They include the following categories:
ESTABLISHED TECHNOLOGY LEADERS Silicon Valley had its birth on the Peninsula in the 1940s with the formation of the first startup technology company in Palo Alto, Hewlett-Packard, which is still based there. Since that time, many nationally recognized firms have created a powerful base of industry for the Peninsula. Companies such as Genentech, Oracle, Sun Microsystems, Informix, Electronics for Imaging, Siebel Systems, Electronic Arts and Varian, were all founded and remain headquartered on the San Francisco Peninsula. 27 І Area Overview
NEW ECONOMY INDUSTRIES New industries related to the Internet have given rise to a plethora of venture capital-funded start-ups on the Peninsula and stimulated the expansion of established companies. Many of these new economy companies already lease significant amounts of commercial property in the Peninsula marketplace. Some of the more recognized firms that have been based here include: VeriSign, E-Trade, Tibco Software, Broadvision, Corio, Akami, and Kana Communications.
BIOSCIENCE INDUSTRY San Mateo County is headquarters to more biotechnology companies than any other area of the country. Foremost is Genentech, the largest and most successful biotech company in the world. Numerous other companies such as Perkin- Elmer, Elan Pharmaceuticals, Gilead Sciences, Coulter Pharmaceutical, Inhale Therapeutic, Incyte Pharmaceuticals, and Cygnus are rapidly becoming major office space users on the San Francisco Peninsula. Although biotech users typically require extensive R&D space, their administrative, regulatory, marketing and sales functions utilize traditional office environments. As a result, growth in the number and size of R&D space users has had tremendous effect on the demand for office space. ASCENSION HEIGHTS І 28
ECONOMIC GROWTH AND TRENDS
1970 1980 1990 2000 2005
Population in 556,234 588,164 696,350 707,161 712,800 the county
Population in 77,561 81,900 85,486 92,482 94,212 city limits
School 9,042 6,799 10,151 10,582 9,911 enrollment, K-8
High school - - 7,725 8,322 8,345 enrollment SAN MATEO COMMUNITY ECONOMIC PROFILE Prepared by the San Mateo Chamber of Commerce *FY91-92 (Based on the format established for statewide use by the California Chamber of Commerce) San Mateo, CLIMATE incorporated September 4, 1894, is 19 miles south of San Francisco, 22 miles north of San Jose, and 415 Average Temperature (F°) Rain Humidity miles north of Los Angeles. Period Min Mean Max Inches 4am 10am 4pm
January 43.9 51.1 61.9 3.4 86 79 67
April 49.7 57.7 71.1 2.0 82 65 60
July 55.1 64.5 78.4 0.20 88 66 60
October 46.0 63.1 65.2 2.36 81 68 59
Year 48.8 59.2 69.4 19.6 85 70 63 ASCENSION HEIGHTS І 30 TRANSPORTATION
ASCENSION HEIGHTS 31 І Area Overview
RAIL Amtrak, Southern Pacific Main Line
TRUCK U.P.S.; 76 freight forwarders (foreign); 35 domestic trucking lines, overnight delivery to all of California and parts of Nevada.
AIR San Francisco International Airport provides scheduled passenger and air freight service by 54 airlines as follows:32 major,3 commuter,5 seasonal and 14 cargo lines. San Carlos Airport, 3 miles south, serves executive and company planesup to 12,500 lbs.
Bus Greyhound Bus Line provides transcontinental service; SamTrans provides city & provides city & county service.
WATER Deep water port of San Francisco 20 miles north; Redwood City 6 miles south.
HIGHWAYS Interstate 280; Highway 92 and U.S. 101; California 82.
COMPARABLES ASCENSION HEIGHTS І 34 COMPARABLES
RESIDENTIAL SUMMARY
ACTIVE
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age
168 Tobin Clark Drive Hillsborough 5 5|1 141 7,380 $989.02 1.10 (a) $7,299,000 28
50 Tobin Clark Drive Hillsborough 5 3|1 5 3,310 $1,193.35 28,160 (sf) $3,950,000 42
1116 Tournament Drive Hillsborough 4 3|1 254 3,140 $1,114.33 23,400 (sf) $3,499,000 34
5 Lohoma Court Hillsborough 3 2|1 12 2,340 $1,281.20 32,110 (sf) $2,998,000 42
1800 Whitecliff Way San Mateo 4 3|0 27 2,210 $950.23 9,000 (sf) $2,100,000 50
ACTIVE
# Listings: 5 AVG VALUES: 88 3,676 $1,105.63 28,074 (sf) $3,969,200 39
CONTINGENT
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age
25 Brooke Court Hillsborough 5 4|1 3 4,200 $1,142.86 39,858 (sf) $4,800,000 32
CONTINGENT"
# Listings: 1 AVG VALUES: 3 4,200 $1,142.86 39,858 (sf) $4,800,000 32
PENDING
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age
910 Tournament Drive Hillsborough 4 2|2 16 3,010 $1,128.90 21,750 (sf) $3,398,000 45
1427 Parrott Drive San Mateo 4 3|0 29 1,630 $1,257.67 7,920 (sf) $2,050,000 62
1655 Ascension Drive San Mateo 4 2|1 10 2,110 $945.50 12,000 (sf) $1,995,000 49
1412 Rainbow Drive San Mateo 3 2|1 13 1,460 $1,293.84 9,191 (sf) $1,889,000 60
PENDING
# Listings: 4 AVG VALUES: 17 2,053 $1,156.48 12,715 (sf) $2,333,000 54 35 І Comparables
SOLD
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age Sale Price COE
150 Tobin Clark Drive Hillsborough 6 5|1 5 6,210 $925.93 30,953 (sf) $5,295,000 28 $5,750,000 05/18/17
17 Mountain Wood Court Hillsborough 5 5|1 13 4,880 $1,111.68 33,280 (sf) $4,998,000 12 $5,425,000 03/27/18
1120 Tournament Drive Hillsborough 7 5|1 52 4,956 $1,024.62 25,438 (sf) $5,299,000 40 $5,078,000 06/29/18
30 Anguido Court Hillsborough 5 4|1 14 4,390 $1,093.39 22,500 (sf) $4,600,000 32 $4,800,000 05/25/18
10 Horseshoe Court Hillsborough 5 4|1 11 3,858 $1,244.17 21,952 (sf) $4,849,000 47 $4,800,000 03/09/18
1015 Bridle Way Hillsborough 4 3|1 14 3,225 $1,418.60 21,760 (sf) $4,250,000 50 $4,575,000 09/07/18
980 Woodland Drive Hillsborough 4 3|1 21 3,790 $1,055.41 27,878 (sf) $3,895,000 47 $4,000,000 06/27/18
65 Tobin Clark Drive Hillsborough 4 3|1 4 3,150 $1,269.84 30,550 (sf) $3,495,000 40 $4,000,000 04/10/18
970 Tournament Drive Hillsborough 5 3|1 11 4,051 $945.45 21,750 (sf) $3,390,000 43 $3,830,000 12/28/17
35 Trophy Court Hillsborough 5 3|1 14 3,220 $1,125.78 29,185 (sf) $3,288,000 48 $3,625,000 03/30/17
750 Tournament Drive Hillsborough 4 3|1 14 3,110 $1,125.40 22,500 (sf) $3,499,000 50 $3,500,000 11/30/18
10 Tobin Clark Drive Hillsborough 5 3|1 174 4,575 $765.03 22,500 (sf) $3,680,000 42 $3,500,000 04/12/19
755 Clydesdale Drive Hillsborough 4 2|1 0 2,680 $1,264.93 21,750 (sf) $3,390,000 46 $3,390,000 11/15/17
50 Glenbrook Drive Hillsborough 4 3|1 46 3,026 $1,039.33 34,848 (sf) $2,999,000 65 $3,145,000 10/04/18
750 Columbia Drive San Mateo 4 3|1 8 3,568 $875.84 23,700 (sf) $2,949,000 67 $3,125,000 05/07/18
801 Parrott Drive San Mateo 4 3|0 21 2,540 $1,145.67 9,963 (sf) $3,180,000 81 $2,910,000 10/01/18
500 Yale Drive San Mateo 4 3|0 14 2,410 $1,203.32 22,031 (sf) $2,450,000 61 $2,900,000 06/25/18
30 Melrose Court Hillsborough 5 4|0 11 2,560 $1,093.75 1.35 (a) $2,988,888 57 $2,800,000 09/10/18
10 Ridgecrest Terrace San Mateo 4 3|0 12 2,660 $1,043.23 7,369 (sf) $2,295,000 26 $2,775,000 06/19/17
817 Oregon Avenue San Mateo 4 3|0 11 2,200 $1,254.55 6,000 (sf) $2,298,000 77 $2,760,000 04/13/18
2 Lakewood Circle San Mateo 5 3|0 28 2,650 $1,000.00 11,197 (sf) $2,895,000 22 $2,650,000 05/23/18
807 Oregon Avenue San Mateo 3 3|0 7 2,460 $1.067.07 6,000 (sf) $2,298,000 77 $2,625,000 07/13/18
46 Glenbrook Drive Hillsborough 3 2|1 52 2,090 $1,244.02 21,344 (sf) $2,850,000 60 $2,600,000 08/09/18
740 Parrott Drive San Mateo 3 2|1 2 2,336 $1,091.61 8,580 (sf) $2,550,000 71 $2,550,000 12/06/17 ASCENSION HEIGHTS І 36
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age Sale Price COE
2016 Timberlane Way San Mateo 4 4|1 35 3,820 $662.30 12,395 (sf) $2,550,000 30 $2,530,000 10/05/18
831 Columbia Drive San Mateo 4 3|0 8 2,301 $1,095.18 8,241 (sf) $2,188,000 78 $2,520,000 06/12/17
55 Lakewood Circle San Mateo 5 3|0 7 2,730 $923.08 10,021 (sf) $2,298,000 22 $2,520,000 05/24/17
625 Parrott Drive San Mateo 3 3|1 9 3,144 $795.17 7,620 (sf) $2,388,000 75 $2,500,000 05/03/17
5 Deer Lake Court San Mateo 5 3|0 52 2,650 $915.09 10,010 (sf) $2,495,000 23 $2,425,000 06/26/18
1321 Bel Aire Road San Mateo 3 3|0 8 2,175 $1,106.21 10,000 (sf) $1,998,000 65 $2,406,000 08/02/18
75 Crown Court San Mateo 4 2|1 18 3,190 $752.35 11,325 (sf) $2,598,000 30 $2,400,000 10/31/17
1287 Parrott Drive San Mateo 3 3|0 3 2,110 $1,125.59 10,400 (sf) $1,995,000 66 $2,375,000 03/30/18
2056 Fairmont Drive San Mateo 5 2|1 24 2,750 $854.55 10,880 (sf) $2,350,000 41 $2,350,000 04/27/18
2018 Kings Lane San Mateo 3 2|1 6 1,900 $1,236.84 14,000 (sf) $1,999,998 62 $2,350,000 01/24/18
544 Virginia Avenue San Mateo 3 3|0 15 2,541 $905.16 7,680 (sf) $2,295,000 78 $2,300,000 11/09/17
1783 Parrott Drive San Mateo 3 2|0 7 1,990 $1,130.65 10,000 (sf) $1,798,000 66 $2,250,000 03/13/18
1928 Parrott Drive San Mateo 4 2|0 13 2,410 $924.48 10,815 (sf) $2,148,000 65 $2,228,000 10/04/18
1898 Parrott Drive San Mateo 3 3|0 75 2,735 $813.53 8,944 (sf) $2,498,000 65 $2,225,000 02/01/19
700 Tulane Court San Mateo 3 2|0 13 1,840 $1,195.65 6,954 (sf) $1,998,000 80 $2,200,000 08/15/18
1515 Parrott Drive San Mateo 4 2|0 6 1,730 $1,249.71 8,240 (sf) $1,900,000 66 $2,162,000 03/14/18
1474 Ascension Drive San Mateo 4 2|0 7 1,780 $1,210.67 12,800 (sf) $1,998,000 53 $2,155,000 05/25/18
1690 Ascension Drive San Mateo 5 3|1 32 2,290 $938.86 13,376 (sf) $2,098,000 48 $2,150,000 06/26/18
1311 Parrott Drive San Mateo 3 2|0 31 1,760 $1,214.77 9,785 (sf) $2,200,000 65 $2,138,000 08/25/18
1312 Bel Aire Road San Mateo 4 3|0 29 2,650 $801.89 17,500 (sf) $2,150,000 64 $2,125,000 07/16/18
24 Valley View Court San Mateo 3 2|0 0 1,870 $1,122.99 16,000 (sf) $2,100,000 55 $2,100,000 10/30/18
542 Fairfax Avenue San Mateo 3 2|1 16 1,593 $1,318.27 9,709 (sf) $1,950,000 67 $2,100,000 10/09/18
1660 Parrott Drive San Mateo 3 2|0 11 1,518 $1,383.40 11,500 (sf) $1,598,000 66 $2,100,000 03/26/18
1709 Los Altos Drive San Mateo 5 3|1 21 2,360 $872.88 8,775 (sf) $1,998,000 47 $2,060,000 10/16/18
1654 Ascension Drive San Mateo 4 3|0 46 2,210 $928.00 8,556 (sf) $1,998,000 48 $2,050,888 12/27/18 37 І Comparables
Address City Bd Ba DOM SqFt $/SqFt Lot (SF) List Price Age Sale Price COE
23 Wildwood Drive San Mateo 4 2|0 42 1,970 $1,015.23 9,000 (sf) $1,988,000 58 $2,000,000 07/24/18
39 Treetop Lane San Mateo 3 2|1 13 2,000 $1,000.00 6,500 (sf) $1,988,000 59 $2,000,000 05/25/18
179 Starlite Drive San Mateo 3 2|0 4 1,450 $1,379.31 9,300 (sf) $1,550,000 59 $2,000,000 03/15/18
1684 Parrott Drive San Mateo 3 2|0 12 1,850 $1,081.08 10,235 (sf) $1,690,000 65 $2,000,000 07/28/17
5 Whitecliff Court San Mateo 4 2|1 12 2,150 $930.23 6,900 (sf) $1,998,000 48 $2,000,000 04/25/17
30 Mountain View Place San Mateo 4 2|0 16 2,090 $921.05 11,000 (sf) $1,748,000 56 $1,925,000 04/24/17
1972 Los Altos Drive San Mateo 4 3|0 13 2,120 $903.30 11,682 (sf) $1,699,950 54 $1,915,000 07/12/17
1575 Parrott Drive San Mateo 3 2|0 24 1,510 $1,258.28 8,080 (sf) $1,870,000 66 $1,900,000 09/28/18
1456 Bel Aire Road San Mateo 4 3|0 6 1,930 $958.55 10,875 (sf) $1,648,000 57 $1,850,000 02/15/18
3 Whitecliff Court San Mateo 4 3|1 76 2,360 $780.51 8,200 (sf) $1,880,000 49 $1,842,000 03/21/19
1807 Alderwood Court San Mateo 4 3|0 10 2,350 $773.62 6,600 (sf) $1,750,000 40 $1,818,000 08/09/17
1263 Parrott Drive San Mateo 3 2|0 13 1,750 $988.57 10,712 (sf) $1,588,000 65 $1,730,000 04/14/17
6 Whitecliff Court San Mateo 4 3|0 63 2,180 $791.28 6,305 (sf) $1,725,000 50 $1,725,000 04/11/19
1527 Parrott Drive San Mateo 3 2|0 25 1,850 $927.03 10,300 (sf) $1,695,000 65 $1,715,000 05/22/17
2002 De Anza Boulevard San Mateo 4 3|0 22 2,350 $691.49 8,610 (sf) $1,625,000 40 $1,625,000 01/25/18
1335 Enchanted Way San Mateo 3 3|0 7 1,470 $1,071.43 9,840 (sf) $1,298,000 58 $1,575,000 06/20/17
SOLD
# Listings: 65 AVG VALUES: 22 2,616 $1,036.57 14,638 (sf) $2,538,597 54 $2,668,506
# Listings Total: 75 AVG VALUES FOR ALL: 26 2,677 $1,048.98 15,768 (sf) $2,653,158 53 $2,668,506
QUICK STATISTICS ( 75 LISTINGS TOTAL )
Min Max Median List Price
List Price $1,298,000 $7,299,000 $2,295,000
Sale Price $1,575,000 $5,750,000 $2,350,000 ASCENSION HEIGHTS
CONTACT INFORMATION
Bruce M. Paris Vice President Lic. 00644232 T 650 577 2933 [email protected]
Investment Properties | NLSG
CBRE | Capital Markets 1450 Chapin Avenue, 2nd Floor Burlingame, CA 94010
© 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE. Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited. PMStudio_April2019