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1205 Geraldine Way 12 Unit Apartment Building $4,850,000 ($404,167/Unit) 4.15% Cap Rate Belmont, CA 94002
Investment Highlights
- Turnkey Asset: New 40-year roof, SB 721 work completed, new sewer lateral, new electrical subpanels, attic insulation, and more.
- Excellent Location: Walking distance to Lunardi's & Safeway and within close proximity to Silicon Valley technology companies & high earning renters.
- Upgraded Units: New countertops, laminate flooring, stainless steel appliances, Grohe fixtures, ceiling fans, new double-paned windows, etc.
- Please reach out to the CBRE Listing Team for the offering memorandum & disclosure package.
Executive Summary
1205 Geraldine Way (the Property) is a multifamily asset built in 1969 situated on a 0.28 acre lot and comprised of twelve (12) units. The Property features a unit mix of eleven (11) one-bedroom/one-bathroom floorplans and one (1) two-bedroom/one-bathroom floorplan. The Property interiors have been nicely renovated as tenants moved out, and recent capital improvements include: New roof, attic insulation & new double-paned windows for improved energy efficiency and comfort, new electrical subpanels, SB 721 compliance, sewer lateral replacement, and more.
The Property’s premier location in Belmont generates premium rents and strong demand from renters backed by high-tech salaries. This Property offers investors the rare opportunity to acquire an investment property in one of the most sought-after residential communities on the San Francisco Peninsula. Perfectly situated near Interstate 280, Highway 101, Highway 92, & Highway 82, this asset is just moments away from major employers such as Meta, Oracle, Electronic Arts, Salesforce, & Visa, as well as the Stanford Medicine Outpatient Center in neighboring Redwood City. In addition, the Property is within walking distance to Lunardi’s and Safeway and moments away from additional dining/shopping options in Downtown Belmont.
The Property’s premier location in Belmont generates premium rents and strong demand from renters backed by high-tech salaries. This Property offers investors the rare opportunity to acquire an investment property in one of the most sought-after residential communities on the San Francisco Peninsula. Perfectly situated near Interstate 280, Highway 101, Highway 92, & Highway 82, this asset is just moments away from major employers such as Meta, Oracle, Electronic Arts, Salesforce, & Visa, as well as the Stanford Medicine Outpatient Center in neighboring Redwood City. In addition, the Property is within walking distance to Lunardi’s and Safeway and moments away from additional dining/shopping options in Downtown Belmont.
Property Facts
| Price | $4,850,000 | Apartment Style | Garden |
| Price Per Unit | $404,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 4.15% | Building Size | 13,483 SF |
| Gross Rent Multiplier | 13.7 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | Multifamily Residential | ||
| Price | $4,850,000 |
| Price Per Unit | $404,167 |
| Sale Type | Investment |
| Cap Rate | 4.15% |
| Gross Rent Multiplier | 13.7 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 13,483 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | Multifamily Residential |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Carpet
- Deck
- Double Pane Windows
- Vinyl Flooring
- Large Bedrooms
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | 616 |
| 2+1 | 1 | - | 790 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 045-061-120 | Improvements Assessment | $1,840,134 |
| Land Assessment | $3,030,809 | Total Assessment | $4,870,943 |
Property Taxes
Parcel Number
045-061-120
Land Assessment
$3,030,809
Improvements Assessment
$1,840,134
Total Assessment
$4,870,943
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1205 Geraldine Way
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