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Listed by Kevin S Caravelli Coldwell Banker Commercial Realty
$ 11,750,000
Est. payment | /mo
26 Beds
25,767 SqFt
$ 11,750,000
Est. payment | /mo
26 Beds
25,767 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 25,767 sqft
Price per Sqft $456
MLS Listing ID 424023977
Bedrooms 26
HOA Y/N No
Year Built 1967
Lot Size 0.351 Acres
Acres 0.3512
Property Description
1500 Newlands Avenue is a well-constructed elevatored 20-unit apartment with secured parking for 24 cars and 21 storage lockers. It features a mix of (6) Two-Bedroom/1 Bathroom and (14) One-Bedroom/1 Bathroom units, all have a private patio or balcony. Current ownership has implemented a renovation program for 17 out of 20 units, giving a clear and proven plan for considerable rental upside upon turnover. Renovated units feature an in-unit washer/dryer, hardwood flooring, and recessed lighting. Renovated kitchens feature modern stainless steel appliances, granite countertops, tile backsplash, and shaker cabinetry. Bathrooms have sleek tiling with high-end shower heads and faucets. The building recently had new exterior and interior painting, brand new water-efficient landscaping, a new sewer main, and a security camera system throughout. This is a rare opportunity for investors to acquire an efficiently operated trophy property in a low-density A+ Location, on a prominent corner, just 3 short blocks from Burlingame Avenue.
Location
State CA
County San Mateo
Area Burlingame Park
Interior
Fireplace No
Exterior
Total Parking Spaces 24
Building
Lot Description Landscape Front
Level or Stories Two
New Construction No
Others
Tax ID 028292300
