239 Serramonte Blvd Lot | Terrain commercial | 2,53 ha | À vendre | 59 582 959 € | Daly City, CA 94015

Serramonte Views offers a generational development opportunity, providing a fully entitled 499-unit residential project located at 239 Serramonte Boulevard in Daly City, California. Located adjacent to Serramonte Center and just minutes from Interstate 280 and San Francisco, the project represents one of the largest and most advanced multifamily development opportunities in Northern San Mateo County.

The project includes a total of 500 luxury apartments, with 499 residential units and one dedicated manager's unit. The development will encompass four high-rise buildings designed with modern architectural finishes, positioned at a vantage point with expansive views of the Peninsula and the Bay Area. There is a massive multi-level parking podium in the plans, providing 7,000 secure parking spaces and satisfying high-density urban requirements.

Positioned in a high-demand infill market with strong regional connectivity and limited housing supply, the site offers institutional scale and immediate development readiness. Having navigated entitlement and regulatory hurdles, Serramonte Views provides investors with a rare opportunity to control a premier, high-density residential project in one of the Bay Area’s most supply-constrained submarkets.

Serramonte Views offers flexibility for multiple development approaches, including multifamily rental apartments, condominium residences, or a hybrid residential program, allowing developers to adapt to evolving market conditions. The opportunity presents significant long-term value potential through rental hold, condo sell-out, or phased development strategies.

The project offers an unparalleled commuter-first location, bridging the gap between the Silicon Valley tech corridor and the San Francisco financial center. The high-impact position in the Serramonte Commercial District of Daly City places the property directly adjacent to Serramonte Center and the Colma Retail Corridor. This amenity-rich destination benefits from convenient proximity to Interstate 280 as well as highway and regional transit, providing seamless access to San Francisco, South San Francisco, and the broader peninsula.

The Greater Daly City/Brisbane Multifamily Submarket offers strong advantages for multifamily investors. Currently, the vacancy rate stands at just 4.7%, which is significantly lower than the historical average. This tight market supports consistent rent growth, with rents increasing by 4.7% over the past year. The area’s multifamily sector is driven by a prosperous and educated population of more than 100,000 residents living within 2 miles of the property. Over 41% of these residents are renters, contributing more than $226 million annually in household-segment spending. Because the region faces challenges such as limited land availability, complex entitlements, and regulatory constraints, new development opportunities are scarce. Serramonte Views gives investors a rare chance to avoid these hurdles and acquire a large development site in this highly supply-constrained market.

For more information on this incredible development opportunity, contact Virginia Lam with AGH Realty Group Corp Today.