1056 Continentals WAY

BELMONT, CA, 94002

$12,900,000

$465 per ft²
$12,900,000
$465 per ft²
Active
Active
 - For Sale
carpenters-square
27,735 ft²
property_type
Commercial
calendar
Built 1969
REDUCED: $12,900,000 / NEW CAP RATE - 3.27% CURRENT CAP / 4.21% MARKET CAP. Generational, Trophy Asset. Pride of Ownership w/ 24 Oversized Apartment Homes: (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: 3.27% / GRM: 18. Pro-Forma CAP Rate: 4.21% / GRM: 15. $480/SF. Dishwashers in All Units. Add In-Unit Washers/Dryers, LVT Flooring to Grow Rents Beyond Pro-Forma CAP/GRM. PLEASE DO NOT DISTURB TENANTS, THANK YOU!
MLS® ID:
ML81893658
Updated:
11/26/22
Christie's International Real Estate
Stephan Marshall

Interior Features

Kitchen Features
Countertop - Granite, Countertop - Stone, Dishwasher, Oven Range - Electric, Refrigerator
Total Bedrooms
0
Total Bathrooms
0
Cooling
None
Heating
Central Forced Air - Gas

Exterior/Building Features

Lot Size
1.24 acres lot
Roof
Foam
Sewer
Sewer - Public

Other Property Details

Area Name
360
HOA Amenities
Additional Storage, Elevator
Garage
Yes
Garage Spaces
24
Parking
Carport, Common Parking Area, Covered Parking
View
Y
County
San Mateo
Utilities
Public Utilities
Water Source
Public
Pool
Yes
Zoning
R40000

Property History

Date
Event
Price
Value
10/7/22
Price Change
$12,900,000
-3%

Courtesy of Colliers Parrish International, Don Sung,
Listing Contact: 650-380-5188 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Stephan Marshall shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 8:57 AM UTC, 11/26/22

 

Christie's International Real Estate
Stephan Marshall
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