CA > Belmont
Belmont, CA 94002,1205 Geraldine WAY
Belmont, CA 94002,1205 Geraldine WAY
Belmont, CA 94002,1205 Geraldine WAY
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$5,000,000
Est. payment /mo
0.28 Acres Lot
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UPDATED:

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. --- NEW ROOF (40-year), NEW WINDOWS, NEW INTERIOR ELECTRICAL (BREAKERS) IN ALL UNITS, SEWER LATERAL CLEARED (2018), SB-721 COMPLETED, INSULATED ATTIC.-- 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). --- 75% OF THE UNITS HAVE BEEN RECENTLY RENOVATED (Units 1, 3, 4, 5, 6, 7, 8, 11 & 12). 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 14.27, this stabilized asset generates over $350,388 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. -- TURNKEY INVESTMENT OPPORTUNITY IN ONE OF THE MOST SOUGHT AFTER MARKETS IN SAN MATEO COUNTY.

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

Read Less Info
CRMLS – RECore
Listed by Nate Gustavson Compass

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