64 Laurel Street, San Carlos, California 94070, San Carlos, 94070 - 0 bed, 0 bath
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San Carlos, California 94070
Analysis of 64 Laurel Street, San Carlos, California 94070 is currently available with a list price of $5,500,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Carlos Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
The property, built in 1953, is a 71-year-old multi-unit building that appears to be maintained but is significantly dated. While the exterior and grounds show signs of age (such as dry landscaping and mid-century styling), the property is currently functional and generating rental income from five units. However, the listing's primary focus is on its development potential for 15-19 condos, indicating that the existing structure is nearing the end of its economic life and lacks modern updates or renovations.
Middle School: Ralston Intermediate School (9/10). High School: Carlmont High School (9/10).
Zoned MD-100 with preliminary plans for 15 upscale condos and a maximum allowance of 19 units, this property offers a high-density development opportunity in a prime San Carlos location.
The property currently operates as a 5-unit rental, providing a consistent income stream to offset carrying costs while the buyer navigates the city permitting and entitlement process.
While preliminary plans have been reviewed, the project still requires final city approval, which can be a lengthy and uncertain process subject to local regulatory changes.
The $5.5 million list price represents a significant upfront investment for an 8,088 square foot lot, placing pressure on the developer to achieve premium sell-through prices for the finished units.
Property is zoned MD-100, there are preliminary plans as reviewed by the city of San Carlos for 15 upscale condos(some with bay views). Zoning allows 14-19 units and a total of approximately 24,265 square feet of total project size. Lot is a gently up sloped 8088 square feet. Currently being used as a 5 unit rental property...providing good income during the city permitting process. The property is subject to AB 2097 which mandates that the city will not impose any minimum parking requirements. (Buyer to verify all information to their satisfaction.)
No exterior & parking available.
Grades K-5 • 2.2 mi
Grades K-5 • 2.5 mi
Grades K-6 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1953 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Feb 18, 2026
$5,500,000
Initial Listing
Sep 2, 2003
$990,000
Public Record