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JLee Broker

[email protected] +1(650) 857-1000

Listed by Nate Gustavson • Compass

$2,900,000

Est. payment - /mo

1 Bed

2 Baths

5,253 SqFt

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OPEN HOUSE

Wed Jun 18, 11:00am - 1:00pm

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Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,253 sqft

Price per Sqft $552

MLS Listing ID ML82010264

Bedrooms 1

Full Baths 2

Year Built 1936

Lot Size 9,126 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Nate Gustavson & Cameron Foster of Compass Commercial are pleased to present the Coeur d'Alene Apartments a well-maintained 10-unit multifamily property located just two (2) blocks from the heart of Burlingame Avenues vibrant shopping and dining district. The unit mix consists of six (6) studios and four (4) one-bedroom/one-bath apartments, with unique and well-maintained units and thoughtful updates throughout. The property features a NEW ROOF (2024), UPGRADED ELECTRICAL PANELS, and in 2025 has PASSED its SEWER LATERAL INSPECTION. --- Tenants enjoy convenience and comfort with amenities including eight (8) covered carport spaces, one (1) open parking space, and a fully finished storage room. Units are individually metered for gas and electric, and the property is heated via a central boiler and radiator system. ---- Investors will appreciate the strong in-place income with upside in rents, current cap rate of 3.82% and pro forma of 5.64%. Priced at $2,900,000 ($290,000/unit), this classic 1936 building offers a rare chance to acquire a stabilized asset in one of, if not THE BEST neighborhoods in all of Burlingame.

Location

State CA

County San Mateo

Area Burlingame Downtown Area

Zoning Multifamily Residential

Interior

Heating Radiant, Other

Cooling Ceiling Fan

Flooring Hardwood, Laminate, Tile

Exterior

Parking Features Assigned Spaces, Carport , Covered Parking

Garage Spaces 1.0

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Flat / Low Pitch

Building

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Tax ID 029-132-150

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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1116 Douglas AVE Burlingame, CA 94010

JLee Broker

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