2186 Carlmont DR, Belmont, CA 94002
- $4,125,000
- 9,688
- SqFt
Listed by Nate Gustavson, 415-786-9410 from Compass
(If provided) CoList: Cameron Foster from Compass
Sold listing courtesy of Dedy Efendi from ACTNP
- Sold Price
- $4,125,000
- List Price
- $4,300,000
- Closing Date
- Oct 08, 2025
- MLS#
- ML82015110
- Status
- SOLD
- Sqft. of Residence
- 9,688
- Lot Size
- 9,914
- Listing Area
- Belmont Woods Etc.
- Year Built
- 1961
Property Description
2186 Carlmont Drive or The Palma Apartments are an impeccably-maintained and managed 10-unit multifamily property located in the exclusive Belmont Hills neighborhood of Belmont, California. Listed at $4,300,000, this multifamily investment property offers a unit mix of eight (8) 1-bedroom/1-bath units (675 sqft) and two (2) 2-bedroom/1-bath units (901 sqft) totaling 9,688 square feet of gross building area on a 10,000 square foot lot. The property features large patios/balconies, 11 tenant parking spaces, 11 individual storage closets, and circuit breakers throughout. Key upgrades include a 35-year laminated fiberglass shingle roof (2013), a 100-gallon water heater (replaced in 2022), and SB 721 inspections have been completed. All units are individually metered for gas and electricity, with wall heaters in the 1-bedroom units and forced air in 2-bedroom units. Currently generating nearly $285,000 in annual income with an in-place 15.15 GRM, this asset presents strong current cash flow with rental upside. Ideally located near Carlmont Village Shopping Center and top-rated schools, this is an excellent opportunity for investors seeking solid in-place income and long-term value in one of the Peninsulas strongest rental markets.
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Additional Information
- Acres
- 0.23
- Age
- 64
- Cooling System
- Ceiling Fan
- Floor Covering
- Laminate
- Foundation
- Concrete Perimeter, Concrete Slab
- Garage Parking
- Assigned Spaces, Covered Parking
- Heating System
- Central Forced Air - Gas, Wall Furnace
- Laundry Facilities
- Coin Operated
- Living Area
- 9,688
- Lot Size
- 9,914
- Neighborhood
- Belmont Woods Etc.
- Other Utilities
- Individual Electric Meters, Individual Gas Meters
- Roof
- Fiberglass, Shingle
- Sewer
- Sewer - Public, Sewer Connected
- Unincorporated Yn
- Yes
- Zoning
- Multifamily Residential
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