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

987 Laurel Street, San Carlos, California 94070 home-pic-0

987 Laurel Street

San Carlos, California 94070

ACTIVE
CONDITION: TEAR DOWN
0Beds
0Baths
1,250Sq Ft
3,000Lot Size

Property Price

LIST PRICE$1,800,000

SUMMARY

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.

Condition Analysis

OVERALL CONDITION SCORE

Tear down
TeardownExcellent

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.

PROSSTRENGTHS & OPPORTUNITIES

  • High-Density Development Potential

    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.

  • Versatile Zoning Uses

    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.

  • Guaranteed Short-Term Income

    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.

CONSRISKS & DEFICIENCIES

  • Impending Vacancy Risk

    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.

  • Aging Infrastructure

    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.

About 987 Laurel Street

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.

Property Details

Public Facts

Property Type
Duplex
Year Built
1946
Lot Size
3,000 Sq. Ft.

Interior

Total Bedrooms
-
Total Bathrooms
-

Exterior & Parking

No exterior & parking available.

Utilities & Misc

HOA Fee
$0 / Month

Neighborhood Insights

Sensitive Facilities

No sensitive facilities data found.

Neighborhood Comparison

FeatureSubjectAverage HomeNeighborhood Ranking (50 Listings)
Beds--
50%
Baths--
50%
Square foot1,2502,499
50%
Lot Size3,0005,401
50%
Price$1.80M$1.85M
50%
Price per sq ft$1.4K$975
50%
Built year19461947
50%
HOA$0$0
50%
Days on market111125
50%

Pricing History

Listed for Sale

Dec 22, 2025

$1,800,000

$1,850,000

-3% Price Drop

Initial Listing

Price Change

Nov 27, 2025

$1,850,000

$2,000,000

-7% Price Drop

Initial Listing

Price Change

Nov 16, 2025

$2,000,000

Initial Listing

Sold

Sep 25, 2020

$1,600,000

Public Record

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