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2401 Carlmont Dr
Belmont, CA 94002
Carlmont Hills Apartments · Multifamily Property For Sale
·
16 Units
Investment Highlights
- Incredible Belmont Multifamily Asset
- Convenient Community Amenities
- Excellent Transportation Corridors
- Attractive Unit Amenities
- Strong Employment Base
Executive Summary
Carlmont Hills Apartments is a stunning 16-unit multi-family community located in the hills of Belmont, CA, one of the strongest rental markets. The subject property was originally constructed in 1961 and offers a highly desirable unit mix consisting of all 16 two-bedroom, one-bathroom units. The property has a total of 17,478 square feet of living space and is situated on approximately half an acre of land. The property has undergone extensive interior renovations complete with modern, high-end finishes including new cabinets, granite countertops, wood laminate flooring and stainless steel appliances. Each unit also benefits from its own private patio or balcony. The Carlmont Hills Apartments are centrally located in the heart of the Silicon Valley. Many of the nation’s top Tech employers are located within close proximity including Oracle, Sun Microsystems, Visa, Sony, Electronic Arts (EA), Franklin Templeton Investments as well as many others. The subject property also benefits from its close proximity to Ralston Avenue, which feeds directly into highways 92, 280 and 101 providing easy access to all major Bay Area locations. The investment appeal of this asset is driven by the areas strong employment fundamentals; low vacancy levels and consistent rental growth. Carlmont Hills Apartments is well positioned for significant NOI growth given its location and perpetual housing constraints in the market as well as the continued economic upturn in the Silicon Valley.
Property Facts
| Price Per Unit | $430,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.38% | Lot Size | 0.49 AC |
| Gross Rent Multiplier | 12.77 | Building Size | 17,478 SF |
| No. Units | 16 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 0.91/1,000 SF |
| Price Per Unit | $430,000 |
| Sale Type | Investment |
| Cap Rate | 4.38% |
| Gross Rent Multiplier | 12.77 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 17,478 SF |
| No. Stories | 3 |
| Year Built | 1961 |
| Parking Ratio | 0.91/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | 975 |
Property Taxes
| Parcel Number | 045-015-110 | Improvements Assessment | $3,800,000 |
| Land Assessment | $3,800,000 | Total Assessment | $7,600,000 |
Property Taxes
Parcel Number
045-015-110
Land Assessment
$3,800,000
Improvements Assessment
$3,800,000
Total Assessment
$7,600,000
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