Once-in-a-Lifetime Opportunity to Acquire an Extremely Well-Maintained, Generational, Trophy Asset. Pride of Ownership w/ 24 Oversized Apartment Home Units: (15) 2 BR/2 BA Units: 1,056 SF (9 Units) / 1,137 SF (6 Units)+(9) 1 BR/1 BA Units: 742 SF. All Units Offer Unobstructed/Panoramic Views of Belmont Hills. Convenient, Easy Access from HWYS 92/280/101. Quiet-Setting w/ Views and Excellent Belmont Schools. 24 Private Balconies, Individual Forced Air Furnaces, Enclosed Carports, Outdoor Parking, 1 Elevator, 3 Laundry Rooms, and More. Owner Invested $540,000+ in Capital Improvements (Dual-Pane Milgard Windows, Retaining Wall, Landscape Design, etc). Bonus 25th Unit: 557 SF Rec. Room Can Be 1 Additional Unit or On-Site Gym. Current CAP Rate: 3.00% / GRM: 18.5. Pro-Forma CAP Rate: 4.03% / GRM: 15.5. $480/SF. Dishwashers in All Units. Add In-Unit Washers/Dryers, LVT Flooring to Grow Rents Beyond Pro-Forma CAP/GRM. DRIVE-BY ONLY. PLEASE DO NOT DISTURB TENANTS, THANK YOU!
- Price:
- $13,320,000
- Square Footage:
- 27,735
- Acreage:
- 1.24
- Year Built:
- 1969
- Listing ID #:
- ML81893658
- Street Address:
- 1056 Continentals Way
- City:
- Belmont
- State:
- California
- Postal Code:
- 94002
- County:
- San Mateo
- Listing Status:
- Active
- Listing Type:
- Commercial Sale
- Total Building Square Footage:
- 27735
- View:
- Greenbelt, Hills, Valley
- Year Built:
- 1969
- Lot Size:
- 1.24
- Lot Square Footage:
- 54014
- Originating Mls:
- Datashare Mlslistings
- Parking Description:
- Covered
- Appliances:
- Dishwasher, Refrigerator
- Existing Water:
- Public
- Heating:
- Forced Air
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By Don Sung of Colliers Parrish International
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