1123 Chula Vista Ave
Burlingame, CA 94010
Multifamily Property For Sale · 8 Units

Rare Burlingame Asset. 5.34% Cap Rate on Proforma Income. 3.21% Cap Rate on current income. Broadway Apartments is a stunning 8-unit apartment building located at 1123 Chula Vista Avenue, in the world-class city of Burlingame, CA. The subject property is situated on a 0.13-acre parcel of land with a gross building area of approximately 4,144 square feet. The asset offers an investor a strong unit mix consisting of (8) studios, ideal for the young professional working in Silicon Valley. The subject property is well positioned in one of the Bay Area’s most desirable cities. The building sits mere blocks away from both a Caltrain Station as well as the Broadway retail corridor. Free Trolley Service is steps away from the property providing transportation to and from nearby Downtown Burlingame, with its high-end shopping, dining and entertainment options including Crepe Vine, Starbucks, Philz Coffee, Village Host Pizza & Grill, Sephora, Banana Republic, Pottery Barn, Lulu Lemon and more. The subject property is also within close proximity to many of the nation’s top tech employers including Oracle, GoPro, Electronic Arts, Inc. (EA), Facebook, Cisco Systems, Visa, Sony, and many others. The area’s finite supply of land and increasing demand should yield high rent growth and appreciation throughout 2019 and beyond. Burlingame is located on the San Francisco Peninsula and is known for its high residential quality of life. With a world-class location in the heart of Silicon Valley, Chula Vista Ave presents an attractive choice for Peninsula renters due to the close proximity to major employers, transportation corridors, shopping, dining and entertainment options.