700 El Camino Real - Apartments FOR SALE


Belmont, CA 94002
$3,800,000 USD
650-492-0934
700 El Camino Real, Belmont, CA for Sale
$3,800,000 USD
Apartments - FOR SALE
1/9
null | 6.56% Cap Rate

700 El Camino Real
Belmont, CA 94002


HIGHLIGHTS

  • Exceptional Belmont Investment Opportunity - Investors have the opportunity to acquire an exceptional multifamily asset walking distance from Downtown
  • Attractive Tenant Amenities - Tenants enjoy renovated units featuring air conditioning, on-site parking and easy access to the Caltrain Station
  • Strong Employment Base - Many of the nation's top tech employers are located within close proximity to the subject property
  • Excellent Transportation Corridors - Located on El Camino Real and features easy access to Caltrain , I-280, CA-92, and HWY-101

OVERVIEW

Belmont Palms is an exceptional 15-unit property located in the thriving city of Belmont, CA, one of the strongest rental markets. Situated on a parcel of land totaling 9,688 square feet, the subject property was originally constructed in 1959 and features a gross building size of 3,649 square feet, offering its tenants beautifully designed one-bedroom and studio floor plans. All units have been recently renovated and feature the desirable amenities of air conditioning and on-site parking. Additionally, tenants are located just one block from the nearby Belmont Caltrain Station. Belmont Palms 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 its location on El Camino Real, a major transportation corridor which facilitates easy access to other 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. With a world-class location in the heart of Belmont, Belmont Palms presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$466 USD /SF

# OF UNITS

15

PRICE/UNIT

$253,333

CAP RATE

6.56%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Belmont Palms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

CMU

APN/PARCEL ID

044-222-120

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.