37 Lorton Ave - Apartments FOR SALE


San Mateo, CA 94401
$4,300,000 USD
415-927-8888
37 Lorton Ave, San Mateo, CA for Sale
$4,300,000 USD
Apartments - FOR SALE
1/29
null | Request Cap Rate

37 Lorton Ave
San Mateo, CA 94401


OVERVIEW

Showing Wednesday by appointment. Situated on a flat, attractively low maintenance 0.17 acre parcel just steps from the heart of downtown Burlingame, 37 Lorton Avenue offers investors a rare opportunity to acquire a charming boutique apartment building in one of the most prestigious and supply-constrained rental markets on the San Francisco Peninsula. This well-maintained 9-unit property features eight one-bedroom units and one studio with assigned covered parking, on-site laundry, and an unbeatable location near shopping, restaurants, transit, SFO, and major employers. Priced below recent comps at $4,300,000, or $477,778 per unit, the starting cash flow of 3.13% grows to 4.68% at what are believed to be market rents, creating a clear path to strong financial performance for the foreseeable future.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$338 USD /SF

# OF UNITS

9

PRICE/UNIT

$477,778

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,501 SF

ZONING

RM

APN/PARCEL ID

029-225-070

ASK ABOUT THIS PROPERTY

Scott GerberNorcal CommercialMore Info
415-927-8888

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Scott GerberNorcal CommercialMore Info
415-927-8888

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