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$13,320,000
1056 Continentals Way, Belmont, CA 94002
0 Beds
0 Baths
27,735 SqFt

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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
  • CABAYEAST

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