About 1140 El Camino Real
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!
Features of 1140 El Camino Real
| MLS® # | ML82043505 |
|---|---|
| Price | $2,995,000 |
| Square Footage | 4,883 |
| Acres | 0.14 |
| Year Built | 1952 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 1140 El Camino Real |
|---|---|
| Area | Burlingame Terrace-Easton Addition |
| City | BURLINGAME |
| County | San Mateo |
| State | CA |
| Zip Code | 94010 |
Amenities
| Utilities | Public Utilities |
|---|---|
| Parking Spaces | 4 |
| Garages | Assigned Spaces, Carport |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Wall Furnace |
|---|---|
| Cooling | None |
| Fireplace | No |
Exterior
| Lot Description | Grade - Level |
|---|---|
| Windows | Double Pane Windows |
| Roof | Foam |
| Construction | Wood Frame |
| Foundation | Crawl Space |
Additional Information
| Zoning | R-3 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Don Sung |
|---|---|
| Office | Colliers Parrish International, Inc. |
| Contact Info | 650-380-5188 |