2239-2241 Village Ct - Apartments FOR SALE


Belmont, CA 94002
$4,000,000 USD
650-492-0934
2239-2241 Village Ct, Belmont, CA for Sale
$4,000,000 USD
Apartments - FOR SALE
1/11
null | 5.05% Cap Rate

2239-2241 Village Ct
Belmont, CA 94002


HIGHLIGHTS

  • Investors have the opportunity to acquire an exceptional multifamily asset in one of the most dynamic and desirable locations in the Mid-Peninsula.
  • Tenants enjoy attractive community amenities such as an on-site laundry facility and private covered parking.
  • 2239 & 2241 Village Ct features upgraded unit interiors with nine out of the ten unit remodeled within the last ten years.
  • Many of the nation's top tech employers are located within close proximity to the subject property including Oracle, EA, Facebook and more.
  • Easy access to the Belmont Caltrain Station, Interstate 280, California State Route 92, California State Route 82, and U.S. Highway 101.

OVERVIEW

2239 & 2241 Village Ct is an exceptional 10-unit multi-family community located in the hills of Belmont, CA, one of the strongest rental markets. Situated on two contiguous parcels of land totaling 11,325 square feet, the subject property was originally constructed in 1963 and features a gross building area of approximately 8,824 square feet, offering tenants beautifully designed two-bedroom and one-bedroom floor plans. Additionally, nine out of the ten units have been remodeled within the last ten years. Tenants enjoy convenient community amenities such as private tuck-under parking and an on-site laundry facility. 2239 & 2241 Village Ct is centrally located in the heart of the Silicon Valley. Many of the nation’s top Tech employers are located within close proximity including Oracle, Sun Microsystems, Visa, Sony, Electronic Arts (EA), Franklin Templeton Investments as well as many others. The subject property also benefits from it’s close proximity to Ralston Avenue, which feeds directly into major transportation corridors such as Interstate 280, California State Route 92, California State Route 82, and U.S. Highway 101 providing easy access to all major Bay Area locations. The investment appeal of this asset is driven by Belmont's strong employment fundamentals, low vacancy levels, and consistent rental growth. 2239 & 2241 Village Ct is well positioned for significant NOI growth given its location and perpetual housing constraints in the market as well as the continued economic upturn in the Silicon Valley.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$395 USD /SF

# OF UNITS

10

PRICE/UNIT

$400,000

CAP RATE

5.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,325 SF

ZONING

R4, San Mateo County

APN/PARCEL ID

045-022-180,045-022-190

ASK ABOUT THIS PROPERTY

Adam LevinLevin JohnstonMore Info
650-492-0934

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Adam LevinLevin JohnstonMore Info
650-492-0934

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