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Listed by Scott Gerber • NORCAL COMMERCIAL • NORCAL COMMERCIAL
NORCAL COMMERCIAL
NORCAL COMMERCIAL
$4,300,000
Est. payment /mo
6,340 SqFt
New
37 Lorton AVE Burlingame, CA 94010
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Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,340 sqft
Price per Sqft $678
MLS Listing ID 425043145
HOA Y/N No
Year Built 1950
Lot Size 7,501 Sqft
Property Sub-Type 5 or More Units
Property Description
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.
Location
State CA
County San Mateo
Area Burlingame Downtown
Exterior
Parking Features Open, Off Street, Covered
Garage Spaces 10.0
Others
Special Listing Condition Offer As Is
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