2200 Village Ct - Apartments FOR SALE


Belmont, CA 94002
$10,150,000 USD
650-380-5188
2200 Village Ct, Belmont, CA for Sale
$10,150,000 USD
Apartments - FOR SALE
1/60
null | 4.11% Cap Rate

2200 Village Ct
Belmont, CA 94002


HIGHLIGHTS

  • Rarely Available, Generational 23 High-Quality Units w/ Spacious Floorplans & Panoramic View w/ Excellent Rental Upside
  • Easy-to-Manage, Strong Cashflow, Turnkey Opportunity w/ High Tenant Satisfaction and Low Tenant Turnover
  • SPACIOUS UNITS w/ Excellent Floorplans: (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF)
  • Potential to Convert 13 Carports w/ 9' Ceilings to Add 5 ADU at +/- 550 SF Each. Top to Bottom Elevator Access
  • Achieve 4.11% CAP / 15 GRM on In-Place Rents; Achieve 5.97% CAP / 11.3 GRM w/ 5 ADU's

OVERVIEW

Rarely Available 23-Unit Asset in Highly Desirable Carlmont Village. Iconic, One-of-a-Kind Generational Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. 41 Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport (14 Carports w/ 9' Ceilings) to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.11% / Pro-Forma CAP Rate: 5.0%. In-Place GRM: 15 / Pro-Forma GRM: 13.3. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF

FOR SALE DETAILS

PRICE

$10,150,000 USD

PRICE/SF

$410 USD /SF

# OF UNITS

23

PRICE/UNIT

$441,304

CAP RATE

4.11%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

R40000

APN/PARCEL ID

045-022-230

ASK ABOUT THIS PROPERTY

Don SungColliersMore Info
650-380-5188

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Don SungColliersMore Info
650-380-5188

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