Log In/Sign Up
Your email has been sent.
A+ Broadway Burlingame Location-HUGE Upside!! 1140 El Camino Real 6 Unit Apartment Building $2,995,000 ($499,167/Unit) 3.74% Cap Rate Burlingame, CA 94010
INVESTMENT HIGHLIGHTS
- Very Rare Opportunity to Acquire 6 High-Quality Units. Steps Away From Broadway Burlingame. Walk to Broadway Shops, Restaurants and Cal-Train Station
- Low Operating Costs (30%) w/ Minimal Management Responsibilities
- Spacious Units w/ Excellent Unit Mix: Six (6) 1 Bedroom/1 Bath - +/- 700 SF to 800 SF Each
EXECUTIVE SUMMARY
First Time on Market in 13 Years. Rarely Available A+ Location. Walk to Broadway Shops and Cal-Train Station. Walk Score: 90, Bike Score: 81. Easy to Lease & Manage. Tremendous Rental Upside. 6-Units w/ Strong Historical Tenancy, Low Turnover and Little to No Vacancy. 6 Spacious 1 BR/1 BA Units w/ Desirable Floorplans. Low Operating Expense Ratio (30%). Tenants Pay In-Unit PG & E and Reimburse Owner for Water. Potential to Implement Full RUBS Program. Potential to Add Dishwashers and In-Unit Washer & Dryers, Conduct Minor In-Unit Upgrades to Achieve Higher Market Rent and Higher CAP Rate. R-3 Zoning: Offers Medium/High Density Residential. Excellent Long-Term Development/Assemblage Potential. Front of Property Offers 3 Easy to Access, Uncovered Parking Spaces. Adjacent Properties (Chase Bank & USPS) Offer Temporary Overflow Parking for Visitors. Potential to Convert 6 Covered Carports to 2 ADU's (1 BR/1 BA Units w/ +/- 600 SF Each) on Ground Floor. 2 Additional Ground Floor ADU's Offer $600,000 ($5,000/Month). Cap. Ex. Include: Plumbing and Electrical, Dual-Pane Windows, New Roofs, New Water Heaters, and More. Strong Rents Driven by Convenient Location and Low-Supply Constraints. Consistently Strong Rental Demand. Proven Track-Record of Reliable Incoming Generation. Please DO NOT DISTURB TENANTS.
PROPERTY FACTS
| Price | $2,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $499,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.74% | Building Size | 4,883 SF |
| Gross Rent Multiplier | 17 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1952 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Parking Ratio | 1.23/1,000 SF |
| Zoning | R-3 - R-3 - Medium / High-Density Development | ||
| Price | $2,995,000 |
| Price Per Unit | $499,167 |
| Sale Type | Investment |
| Cap Rate | 3.74% |
| Gross Rent Multiplier | 17 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,883 SF |
| No. Stories | 2 |
| Year Built | 1952 |
| Tenancy | Single |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | R-3 - R-3 - Medium / High-Density Development |
AMENITIES
UNIT AMENITIES
- Microwave
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Gas Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $2,525 | 700 - 800 |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 026-212-230 | Improvements Assessment | $1,042,520 |
| Land Assessment | $1,130,444 | Total Assessment | $2,172,964 |
PROPERTY TAXES
Parcel Number
026-212-230
Land Assessment
$1,130,444
Improvements Assessment
$1,042,520
Total Assessment
$2,172,964
1 of 60
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
A+ Broadway Burlingame Location-HUGE Upside!! | 1140 El Camino Real
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.