Homes for sale - 1140 El Camino Real, Burlingame, CA 94010

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Ryan Mull

rkp@therealtysociety.com +1(408) 805-0359

Listed by Don Sung • Colliers Parrish International, Inc.

$ 2,995,000

Est. payment | -/mo

2 Beds

2 Baths

4,883 SqFt

Save

$ 2,995,000

Est. payment | -/mo

Save

2 Beds

2 Baths

4,883 SqFt

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 4,883 sqft

Price per Sqft $613

MLS Listing ID ML82022957

Bedrooms 2

Full Baths 2

Year Built 1952

Lot Size 6,154 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

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. 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.

Location

State CA

County San Mateo

Area Burlingame Terrace-Easton Addition

Zoning R-3 Medium/High Density Residential

Interior

Heating Gas, Wall Furnace

Cooling None

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Carport

Garage Spaces 3.0

Utilities Available Public Utilities

Roof Type Other

Building

Foundation Crawl Space

Sewer Sewer - Public

Water Public

Others

Tax ID 026-212-230

Special Listing Condition Not Applicable

GET MORE INFORMATION

Ryan Mull

Broker-Associate | Lic# 01329887

rkp@therealtysociety.com

+1(408) 805-0359

42 Martin St Gilroy, CA, 95020

1140 El Camino Real Burlingame, CA 94010

Ryan Mull

Key Details

Location

Interior

Exterior

Building

Others

1140 El Camino Real