1500 Newlands Avenue, Burlingame, CA
Multi-family for Sale - $12,750,000 - 25,767 Sq. Ft. on 15300 acres
Agent Info
Kevin Caravelli Coldwell Banker Realty |
Property Info
CIMLS# | 1158033 |
Location 1500 Newlands Avenue Burlingame CA 94010 | |
Updated | April 13th, 2024 |
Type | Multi-family |
Price | $12,750,000 |
Building | 25,767 Sq. Ft. |
Land | 15300 acres |
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 put 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.