1120 Elmer St - Apartments FOR SALE


Belmont, CA 94002
$1,680,000 USD
650-274-5227
1120 Elmer St, Belmont, CA for Sale
$1,680,000 USD
Apartments - FOR SALE
1/10
null | 3.68% Cap Rate

1120 Elmer St
Belmont, CA 94002


OVERVIEW

Incredible opportunity to acquire a rarely available Fourplex in downtown Belmont that offers significant add-value for a new owner, with one unit already vacant and another coming vacant soon - renovate and achieve top market rents immediately! Ideal for owner-occupiers, value-add multifamily investors, small syndicators, 1031 exchange buyers, life-science workforce housing, and family offices. Rare Belmont Fourplex off Ralston Avenue in Downtown Belmont (4) One-Bedroom / One-Bath Units Significant Add-Value Opportunity Unit # 1 Currently Vacant - Freshly Painted Walls, New Flooring, and Light Fixtures ($7k improvements) Another Unit Coming Vacant Soon Renovate Units and Achieve Top Market Rents New Electrical System Upgrade New Sewer Lateral Piping Installed - $22K Improvement Individual Water Heaters Convert Carport Parking into ADU! Surrounded by Major Life Science & Biotech Development Projects Projects Estimated to Deliver 13,000 Employees – High Paying Research, Tech, & Life Science Jobs 5-minute Walk to Belmont Caltrain Station and Belmont Village Shopping Center Close Proximity to Highly Ranked Schools Including Carlmont High School (10/10 Rating)

FOR SALE DETAILS

PRICE

$1,680,000 USD

PRICE/SF

$422 USD /SF

# OF UNITS

4

PRICE/UNIT

$420,000

CAP RATE

3.68%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,700 SF

ZONING

C40000

APN/PARCEL ID

040-332-080

ASK ABOUT THIS PROPERTY

Bryan DanforthCompass CommercialMore Info
650-274-5227

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Bryan DanforthCompass CommercialMore Info
650-274-5227

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.