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.
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.