San Mateo, California
808 Laurel Condominiums
36-unit San Mateo conversion
Explore the projectRequest your free feasibility study- Location
- San Mateo, California
- Units
- 36
The challenge
The Co-op was searching for a way to convert to condominium for some time but was hindered by municipal and state objections and legal issues.
While prices for condos were rising rapidly in the hot tech market, co-op unit values in the building remained severely depressed.
As a co-op, financing options were limited to a few banks willing to finance co-ops.
The outcome
Hutton addressed all issues and converted all units to condos without any need to change common elements (i.e. parking, access, etc.) and obtained state BRE approval (public report).
After conversion, unit values immediately increased by as much as 70% to 100%. Units were on the market for a very short time before being sold above asking.
The completed condominium obtained Fannie Mae project approval, expanding the financing channels available to new and existing owners.
Historical project figures
These historical figures describe this project. They are not current appraisals or a prediction for another building.
- Funding arranged
- $5,000,000
In San Mateo
808 Laurel Condominiums808 Laurel Ave, San Mateo, CA 94401Open the building in Google Maps (opens a new tab)
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