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$ 5,000,000
Est. payment | /mo
13,483 SqFt
$ 5,000,000
Est. payment | /mo
13,483 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 13,483 sqft
Price per Sqft $370
MLS Listing ID ML82015115
HOA Y/N No
Year Built 1969
Lot Size 0.275 Acres
Acres 0.28
Property Sub-Type Other
Property Description
1205 Geraldine Way is an extraordinarily well-maintained 12-unit apartment complex located in the exclusive Belmont Hills neighborhood of Belmont, California. Priced at $5,000,000, this multifamily investment property offers a unit mix of eleven (11) spacious 1-bedroom/1-bath units (700 sqft) and one (1) 2-bedroom/1-bath unit (940 sqft). Recent capital improvements include a Brand New Roof (2024) with a 40-year life expectancy, dual-pane windows, circuit breakers throughout, and half of the units have been recently renovated (1,4,6,8,11 & 12). The sewer lateral was replaced and cleared in 2018, SB-721 inspections are completed, and the attic was insulated to improve energy efficiency and tenant comfort. The property features 14 parking spaces, individual tenant storage, and a coin-operated laundry machines. All units are individually metered for gas and electric. With an in-place GRM of 14.87, this stabilized asset generates over $338,000 in gross annual income. 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.
Location
State CA
County San Mateo
Zoning Mult
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s)
Flooring Laminate
Fireplace No
Window Features Double Pane Windows
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
Building
New Construction No
Others
Tax ID 045061120
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Listed by Nate Gustavson • Compass
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "