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620 Masonic Way 10 Unit Apartment Building $3,775,000 ($377,500/Unit) 3.94% Cap Rate Belmont, CA 94002
INVESTMENT HIGHLIGHTS
- Opportunity to renovate units and increase rents by $600/month per unit
- All first floor units feature massive private patios and three (3) second floor units have spacious balconies.
- Less than a two -minute walk from the Belmont Caltrain station
EXECUTIVE SUMMARY
Vacant Unit Available To Tour
SB 721 Inspection In Hand
Property Condition Inspection In Hand
620 Masonic Way (the Property) is a two-story multifamily asset built in 1963 situated on a 0.23 acre lot and comprised of ten (10) spacious units. The Property boasts 9,233 square feet and features ten (10) one-bedroom/ one-bathroom floorplans. Additionally, six (6) units offer residents their own private patios and balconies.
This Property offers investors the rare opportunity to purchase an investment property in one of the most sought after locations in all of Belmont. Perfectly situated roughly two minutes from Belmonts Caltrain station, near Interstate 280, Highway 101, Highway 92 and Highway 82, this asset is just moments away from Tech Hubs such as Facebook, Oracle, Electronic Arts, Kaiser, Sales Force, Visa, and Stanford Medical. In addition, the property is less than a half-mile away from Downtown Belmont, featuring luxury shopping, entertainment, and high-end dining options.
Please reach out to the CBRE Listing Team for additional information.
SB 721 Inspection In Hand
Property Condition Inspection In Hand
620 Masonic Way (the Property) is a two-story multifamily asset built in 1963 situated on a 0.23 acre lot and comprised of ten (10) spacious units. The Property boasts 9,233 square feet and features ten (10) one-bedroom/ one-bathroom floorplans. Additionally, six (6) units offer residents their own private patios and balconies.
This Property offers investors the rare opportunity to purchase an investment property in one of the most sought after locations in all of Belmont. Perfectly situated roughly two minutes from Belmonts Caltrain station, near Interstate 280, Highway 101, Highway 92 and Highway 82, this asset is just moments away from Tech Hubs such as Facebook, Oracle, Electronic Arts, Kaiser, Sales Force, Visa, and Stanford Medical. In addition, the property is less than a half-mile away from Downtown Belmont, featuring luxury shopping, entertainment, and high-end dining options.
Please reach out to the CBRE Listing Team for additional information.
PROPERTY FACTS Under Contract
| Price | $3,775,000 | Apartment Style | Low-Rise |
| Price Per Unit | $377,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Cap Rate | 3.94% | Building Size | 9,233 SF |
| Gross Rent Multiplier | 15.2 | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.08/1,000 SF |
| Price | $3,775,000 |
| Price Per Unit | $377,500 |
| Sale Type | Investment |
| Cap Rate | 3.94% |
| Gross Rent Multiplier | 15.2 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 9,233 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.08/1,000 SF |
AMENITIES
UNIT AMENITIES
- Balcony
- Microwave
- Storage Space
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Deck
- Patio
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $2,225 | 690 |
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Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 040-312-160 | Improvements Assessment | $1,538,751 |
| Land Assessment | $2,706,080 | Total Assessment | $4,244,831 |
PROPERTY TAXES
Parcel Number
040-312-160
Land Assessment
$2,706,080
Improvements Assessment
$1,538,751
Total Assessment
$4,244,831
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620 Masonic Way
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