987 Laurel Street, San Carlos, California 94070, San Carlos, 94070 - 0 bed, 0 bath
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San Carlos, California 94070
Analysis of 987 Laurel Street, San Carlos, California 94070 is currently available with a list price of $1,800,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. 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 Experienced Investors and Fix-and-Flip Specialists.
Property is land value only, full reconstruction required.
Built in 1946, this property is currently utilized as a medical office/veterinary clinic and lacks the essential residential features such as a modern kitchen or standard home bathrooms. The listing description and property analysis explicitly focus on the land's high-density redevelopment potential (MU-N-50 zoning) and suggest a complete teardown to maximize the site's value for multi-unit residential use.
Zoned MU-N-50, the property allows for up to 50 units per net acre, offering significant upside for multi-story residential or mixed-use redevelopment under current state pro-housing laws.
The Neighborhood Mix zoning supports a wide array of permissible uses including medical, professional office, retail, and multi-unit residential, providing maximum flexibility for future investors.
Currently leased to a major veterinary chain through late 2026, the property provides a stable income stream while the buyer secures permits and plans for future development.
The anchor tenant has confirmed they will not renew their lease after 2026, necessitating a proactive strategy to re-tenant or begin redevelopment to avoid a prolonged vacancy.
Originally constructed in 1946, the existing 1,250 sqft structure may require significant modernization or a complete teardown to meet contemporary commercial or residential standards.
This is a medical office building that is leased to a major Vet chain through 12/31/2026. They are not renewing because they are consolidating to another much larger location. This building offers a broad array of permissible uses including residential. The Regional Housing Needs Assessment puts this land at 2 residential units. However, if redeveloped with an architect and the city with both city and new state pro-housing laws, a buyer could potentially get several stories and many units, TBD. Zoning: MU-N-50: Neighborhood Mix: retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre. Permissible uses: Multi unit residential, family childcare small and large, Residential care - limited, community assembly(minor use permit), cultural (MUP), day care, instructional, schools (CUP), social service (CUP), pet grooming(*5), bank and financial services (mup), business services (9*), restaurant (cup), convenience store (cup), food prep, business and professional office, medical office (9*), personal service. Please speak with a city planner and an architect to confirm whether your use is permissible.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,250 | 2,009 | 33% |
| Lot Size | 3,000 | 4,725 | 33% |
| Price | $1.80M | $1.80M | 50% |
| Price per sq ft | $1.4K | $530 | 67% |
| Built year | 1946 | 1947 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 157 | 157 | 67% |
Dec 22, 2025
$1,800,000
$1,850,000
-3% Price Drop
Initial Listing
Nov 27, 2025
$1,850,000
$2,000,000
-7% Price Drop
Initial Listing
Nov 16, 2025
$2,000,000
Initial Listing
Sep 25, 2020
$1,600,000
Public Record