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In-PersonVirtual Tour
$ 5,000,000
Est. payment | /mo
0.28 Acres Lot
$ 5,000,000
Est. payment | /mo
0.28 Acres Lot
OPEN HOUSE
Wed Jul 23, 11:00am - 1:00pm
Wed Jul 30, 11:00am - 1:00pm
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82015115
HOA Y/N No
Year Built 1969
Annual Tax Amount $54,825
Lot Size 0.275 Acres
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
Area 699 - Not Defined
Zoning Multifamily Residential
Interior
Heating Wall Furnace
Fireplace No
Exterior
Carport Spaces 14
Roof Type Composition,Shingle
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Carlmont
School District Other
Others
Tax ID 045061120
Special Listing Condition Standard
Listed by Nate Gustavson Compass
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Natalie Miranda
Marketing Director | License ID: 02122928