$2,995,000
About this home
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!
Facts & features
- Bathrooms
- 0
- Heating
- Wall Furnace
- Cooling
- None
- Lot size
- 0.141 acres (6,154 sq ft)
- Year built
- 1952
- Parking spaces
- 4
- Area
- 699 - Not Defined
- County
- San Mateo
- Status
- Active
- Property type
- Commercial Sale
- Days on market
- 98
- Listed
- 2026-04-17
- Parcel #
- 026212230
- MLS #
- ML82043505
