1056 Continentals Way

Belmont, CA, 94002

$13,320,000

$480 per ft²
$13,320,000
$480 per ft²
Active
Active
 - For Sale
carpenters-square
27,735 ft²
property_type
Commercial
calendar
Built 1969
Once-in-a-Lifetime Opportunity to Acquire an Extremely Well-Maintained, Generational, Trophy Asset. Pride of Ownership w/ 24 Oversized Apartment Home Units: (15) 2 BR/2 BA Units: 1,056 SF (9 Units) / 1,137 SF (6 Units)+(9) 1 BR/1 BA Units: 742 SF. All Units Offer Unobstructed/Panoramic Views of Belmont Hills. Convenient, Easy Access from HWYS 92/280/101. Quiet-Setting w/ Views and Excellent Belmont Schools. 24 Private Balconies, Individual Forced Air Furnaces, Enclosed Carports, Outdoor Parking, 1 Elevator, 3 Laundry Rooms, and More. Owner Invested $540,000+ in Capital Improvements (Dual-Pane Milgard Windows, Retaining Wall, Landscape Design, etc). Bonus 25th Unit: 557 SF Rec. Room Can Be 1 Additional Unit or On-Site Gym. Current CAP Rate: 3.00% / GRM: 18.5. Pro-Forma CAP Rate: 4.03% / GRM: 15.5. $480/SF. Dishwashers in All Units. Add In-Unit Washers/Dryers, LVT Flooring to Grow Rents Beyond Pro-Forma CAP/GRM. DRIVE-BY ONLY. PLEASE DO NOT DISTURB TENANTS, THANK YOU!
MLS® ID:
ML81893658
Listed:
5/26/22
Updated:
8/16/22

Interior Features

Kitchen Appliances
Dishwasher, Refrigerator
Total Bedrooms
0
Total Bathrooms
0
Cooling
None
Heating
Forced Air

Exterior/Building Features

Lot Size
1.24 acres lot
Sewer
Public Sewer

Other Property Details

Area Name
Belmont Woods Etc
Garage
No
Parking
Covered
View
Y
County
San Mateo
Water Source
Public
Pool
No
Zoning
R400

Courtesy of Colliers Parrish International, Don Sung

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