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listing
1 of 70
Commercial
$12,900,000
1056 Continentals Way
Belmont, CA 94002
Listed by Don Sung DRE#01935797 [email protected] Colliers Parrish International
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$66,687/mo

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!

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Information courtesy of Colliers Parrish International is subject to verification and is not guaranteed.
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