1761 Laurel Street, San Carlos, California 94070, San Carlos, 94070 - bed, bath

1761 Laurel Street, San Carlos, California 94070 home-pic-0
ACTIVE$1,800,000
1761 Laurel Street, San Carlos, California 94070
0Bed
0Bath
5,776Sqft
5,000Lot
Year Built
1978
Close
-
List price
$1.8M
Original List price
$1.95M
Price/Sqft
$312
HOA
-
Days on market
-
Sold On
-
MLS number
ML82027813
Home ConditionPoor
Features
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $1.80M(50th), sqft - 5776(50th), beds - undefined(50th), baths - undefined(50th).

Office Building with Multi-Family Residential+ Zoning. For Lease, Sale or JV. Permitted: Office Business Professional, Medical Dental Office, General Personal Service, Multi-Unit Residential, Family Child Care, Day Care, Adult Day Care, Trade School, Community Assembly, Church, Instructional, Private School w CUP, Grooming or Pet Store, Veterinary w CUP, Restaurant, Bar w CUP, Hotel, Convenience or Grocery, Retail. MU-SB-100: Mixed-Use South Boulevard: Could go 60 ft or 5 stories with existing zoning codes, new state laws could potentially go higher depending on transit assessment. Building is 49 ft wide and 57 ft deep. There is an existing tenant, who has a right of first refusal on a sale, but has stated that they don't intend to exercise it, and an option to extend the lease 2 years past their 3/31/26 expiration, which they've stated they intend to exercise. For buyers, investors that want a leased investment, or a mixed use or residential development opportunity, with in place lease income, this is a positive scenario. As-Is sale. New roof. Current office layout interior has many private offices, conference rooms that could be used as into bedrooms. Buyer to inspect as desired.

Price History

Date
Event
Price
11/27/25
Price Change
$1,800,000-7.7%
11/17/25
Listing
$1,950,000
07/25/97
Sold
$465,000
Condition Rating
Poor

Built in 1978, this property is an aging office building being sold 'as-is' with 'Aging Building Systems' explicitly noted as a weakness requiring 'substantial investment for modernization or conversion to residential use.' While a new roof is a positive, the existing kitchenette and two half bathrooms are likely basic office-grade and would require complete renovation to meet modern residential standards, which is a key consideration given its 'Residential Income' type and 'Duplex' sub-type. The overall condition suggests significant rehabilitation is needed for residential suitability.
Pros & Cons

Pros

Exceptional Zoning Flexibility: The MU-SB-100 Mixed-Use South Boulevard zoning permits an extensive range of uses including multi-unit residential, office, medical, retail, restaurant, and hotel, offering diverse development and income opportunities.
Significant Redevelopment Potential: Zoning allows for up to 60 feet or 5 stories, with potential for greater height under new state laws, maximizing the property's development capacity.
Stable In-Place Income: An existing tenant with a stated intent to extend their lease provides immediate and reliable rental income, making it attractive for investors.
Recent Capital Improvement: A new roof has been installed, reducing immediate maintenance concerns and capital expenditure for the buyer.
Strategic Location & Price Adjustment: Situated in the desirable San Carlos market, coupled with a recent price reduction, enhances its appeal and potential value proposition.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =5000, other record lot size in square feet = 5145. Living area discrepancy between mls listing and other public or private record. mls listing living area = 5776, other record living area = 2900.
As-Is Sale Condition: The property is being sold 'as-is,' placing the burden of any necessary repairs, upgrades, or unforeseen issues entirely on the buyer.
Tenant Lease & Right of First Refusal: The existing tenant's option to extend their lease could delay immediate redevelopment plans, and their right of first refusal, though stated not to be exercised, adds a procedural complexity to the sale.
Aging Building Systems: Built in 1978, the property's underlying systems (e.g., electrical, plumbing, HVAC) may be outdated and could require substantial investment for modernization or conversion to residential use.

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