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$ 10,150,000
Est. payment | /mo
4 Beds
3 Baths
24,785 SqFt
$ 10,150,000
Est. payment | /mo
4 Beds
3 Baths
24,785 SqFt
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 24,785 sqft
Price per Sqft $409
Lot Size 0.532 Acres
MLS Listing ID ML82032286
Bedrooms 4
Full Baths 3
Property Description
Achieve $57,000/Month in Stable Rental Income from a Diversified, 23-Tenant, High-End Apartment in an A+ Location. What a Great Way to Retire and Achieve Reliable Cashflow + Value Appreciation + Tax Advantages (Depreciation). Rarely Available 23-Unit Asset in Highly Desirable Carlmont Village. Iconic, One-of-a-Kind Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport w/ 9' Ceilings to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.12% / Pro-Forma CAP Rate: 5.02%. In-Place GRM: 14.6 / Pro-Forma GRM: 12.9. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF
Location
State CA
County San Mateo
Area Belmont Woods Etc.
Zoning R40000
Rooms
Kitchen Dishwasher, Oven Range - Electric, Refrigerator
Interior
Heating Wall Furnace
Cooling None
1-purchase type For Sale
Exterior
Garage Assigned Spaces, Carport
Pool Pool - Heated
Community Features Additional Storage, Community Pool, Elevator
Utilities Available Public Utilities
Roof Type Other
Building
Foundation Wood Frame
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 045-022-230
Security Features None
Special Sale Not Applicable
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Listed by Don Sung of Colliers Parrish International, Inc.
Bought with Don Sung of Colliers Parrish International, Inc.
Bought with Don Sung of Colliers Parrish International, Inc.
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