1140 El Camino Real, Burlingame, CA 94010
- $2,995,000
- 4,883
- SqFt
Listed by Don Sung, 650-380-5188 from Colliers Parrish International, Inc.
(If provided) CoList: from
- List Price
- $2,995,000
- MLS#
- ML82043505
- Status
- ACTIVE
- Sqft. of Residence
- 4,883
- Lot Size
- 6,154
- Listing Area
- Burlingame Terrace-Easton Addition
- Year Built
- 1952
Property Description
Rarely Available, A+ Broadway Burlingame Location. Walk to Broadway Shops and Cal-Train Station. Walk Score: 89, Bike Score: 81. Spacious 1 Bedroom / 1 Bath Units w/ Desirable Floorplans - Offering Possibility to Convert to 2 Bedroom / 1 Bath Floorplans to Increase NOI & Cap Rate. Low Operating Expense Ratio (30%). Individual Water Heaters (1 for Each Unit). Potential to Add Dishwashers and In-Unit Washer & Dryers. R-3 Zoning: Parcel Offers Medium/High Density Residential Development Potential in the Future. Capital Improvements Include: Plumbing and Electrical, Dual-Pane Windows, New Roofs, New Water Heaters, and More. Potential to Convert 6 Covered Carports (w/ 7' 6" ceiling) to 2 ADU's (1 BR/1 BA Units w/ +/- 600 SF Each). Consistently Strong Rents Driven by Convenient Location and Low-Supply Constraints. Strong Rental Demand. Easy Access to El Camino Real, 101, 280, and Major Silicon Valley Employers. Current CAP Rate (In-Place Rents): 3.75% / GRM (In-Place Rents): 17.6. Pro-Forma CAP Rate (Market Rents): 4.70% / GRM (In-Place Rents): 15. Reasonable Cost/SF: $613/SF. Please DO NOT DISTURB Tenants. Thank you!
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Additional Information
- Cooling System
- None
- Energy Features
- Double Pane Windows
- Floor Covering
- Carpet, Hardwood
- Foundation
- Crawl Space
- Garage Parking
- Assigned Spaces, Carport
- Heating System
- Wall Furnace
- Laundry Facilities
- Coin Operated
- Living Area
- 4,883
- Lot Description
- Grade - Level
- Lot Size
- 6,154
- Neighborhood
- Burlingame Terrace-Easton Addition
- Other Rooms
- Storage
- Other Utilities
- Public Utilities
- Roof
- Foam
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- R-3
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