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Eric Boyenga

e@boyenga.com +1(408) 506-3942

Listed by Don Sung, DRE #01935797 • Colliers Parrish International, Inc.

$ 10,150,000

Est. payment | -/mo

4 Beds

3 Baths

24,785 SqFt

Save

$ 10,150,000

Est. payment | -/mo

Save

4 Beds

3 Baths

24,785 SqFt

Key Details

Property Type Multi-Family

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 24,785 sqft

Price per Sqft $409

MLS Listing ID ML82032286

Bedrooms 4

Full Baths 3

Year Built 1965

Lot Size 0.532 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Achieve $57,000/Month in Stable Rental Income from a Diversified, 23-Tenant, High-End Apartment in an A+ Location. What a Great Way to Retire and Achieve Reliable Cashflow + Value Appreciation + Tax Advantages (Depreciation). Rarely Available 23-Unit Asset in Highly Desirable Carlmont Village. Iconic, One-of-a-Kind Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport w/ 9' Ceilings to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.12% / Pro-Forma CAP Rate: 5.02%. In-Place GRM: 14.6 / Pro-Forma GRM: 12.9. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF

Location

State CA

County San Mateo

Area Belmont Woods Etc.

Zoning R40000

Rooms

Kitchen Dishwasher, Oven Range - Electric, Refrigerator

Interior

Heating Wall Furnace

Cooling None

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Carport

Pool Pool - Heated

Utilities Available Public Utilities

Roof Type Other

Building

Foundation Wood Frame

Sewer Sewer - Public

Water Public

Others

Tax ID 045-022-230

Special Listing Condition Not Applicable

NEARBY SCHOOL & BUSINESS

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA

2200 Village CT Belmont, CA 94002