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1140 El Camino Real Burlingame, CA 94010
6,155 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82043505
HOA Y/N No
Year Built 1952
Annual Tax Amount $34,793
Lot Size 6,155 Sqft
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!
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R-3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 6
Roof Type Foam
Total Parking Spaces 4
Building
Lot Description Level
Water Public
Schools
School District Other
Others
Tax ID 026212230
Special Listing Condition Standard
Listed by Don Sung Colliers Parrish International, Inc. #01935797
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