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987 Laurel StreetSan Carlos, CA 94070

For Sale

$1,850,000

Smart Buyer Rebate $18,500

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.

Listed by Alexander Kent

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License #01718732

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Compass

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650-793-0541

Last updated December 08, 2025

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Source: MLSListings #ML82027747

Listing Facts

  • TypeMulti-family
  • NeighborhoodHoward Park
  • Days on Prevu29
  • Size1,185 sqft
  • Price per sqft$1,561

Amenities

  • Pets Allowed
  • Parking

Location

Mortgage Calculator

Listing History

11/26/2025
Price Decreased
$1,850,000
11/16/2025
Listed by Compass
$2,000,000

Property Details for 987 Laurel Street

Exterior

Construction

  • Number Of Units Total: 2
  • Roof: Tar/Gravel
  • Stories: 1
  • Year Built: 1946
  • Year Built Details: 2
  • Architectural Style: Contemporary

Features

  • Other Structures: Shed(s)

Measurements

  • Building Area Total: 1,185
  • Lot Features: Other
  • Lot Size Acres: 0.06
  • Lot Size Area: 3,000
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 3,000
  • Lot Size Units: Square Feet

Financial

Residential Income

  • Cap Rate: 4.98
  • Gross Income: $92,098.00
  • Operating Expense Includes: Insurance, Other

Taxes

  • Parcel Number: 051-358-020

Interior

Features

  • Flooring: Laminate

Measurements

  • Living Area: 1,185

Other

Features

  • Accessibility Features: Grab Bars

Parking

Parking

  • Carport: Yes
  • Parking Total: 3

Schools

Elementary School

  • Elementary School District: San Carlos Elementary

High School

  • High School District: Sequoia Union High

Utilities

Equipment

  • Cooling: Central Forced Air
  • Heating: Central Forced Air - Gas
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available, Public Utilities, Water - Public
  • Water Source: Public

Frequently Asked Questions

How many bedrooms does this multi-family home have?

There is bedrooms in this multi-family home at 987 Laurel Street.

Does this multi-family home have parking?

Yes, there are 3 parking spaces available for 987 Laurel Street.

What is the square footage on this multi-family home?

According to the MLS, this listing is 1,185 sqft.

987 Laurel Street is a -bedroom multi-family home for sale in San Carlos CA 94070. On Prevu for 29 days at $1,850,000. This includes a recent price decrease of $150,000. This property features 1,185 square feet of living space, located in San Carlos. The median listing price for multi-family homes in this area is $1,399,888. Additional amenities include pets allowed and parking. Explore more multi-family home listings in San Carlos.

Based on information from MLSListings™️ and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.