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Sold for $12,000,000 on 04/07/23
  • $12,000,000

    Continentals Way, Belmont, CA 94002

    --beds
    --baths
    27,735sqft
    Five Or More Units, Residential Income
    Built in 1969
    -- sqft lot
    $12,329,000 Zestimate®
    $433/sqft
    $4,006 Estimated rent

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    What's special

    Generational, Trophy Asset. Pride of Ownership w/ 24 Oversized Apartment Homes: (15) 2 BR/2 BA Units: 1,056 SF (9 Units) / 1,137 SF (6 Units)+(9) 1 BR/1 BA Units: 742 SF. All Units Offer Unobstructed/Panoramic Views of Belmont Hills. Convenient, Easy Access from HWYS 92/280/101. Quiet-Setting w/ Views and Excellent Belmont Schools. 24 Private Balconies, Individual Forced Air Furnaces, Enclosed Carports, Outdoor Parking, 1 Elevator, 3 Laundry Rooms, and More. Owner Invested $540,000+ in Capital Improvements (Dual-Pane Milgard Windows, Retaining Wall, Landscape Design, etc). Bonus 25th Unit: 557 SF Rec. Room Can Be 1 Additional Unit or On-Site Gym. Current CAP Rate: 3.27% / GRM: 18. Pro-Forma CAP Rate: 4.21% / GRM: 15. $480/SF. Dishwashers in All Units. Add In-Unit Washers/Dryers, LVT Flooring to Grow Rents Beyond Pro-Forma CAP/GRM. PLEASE DO NOT DISTURB TENANTS, THANK YOU!

    Zillow last checked: 8 hours ago

    Listing updated: December 21, 2024 at 01:01am

    Listed by:

    Don Sung 01935797 650-380-5188,

    Colliers Parrish International

    Bought with:

    Gregory Terry, 00957651

    Compass

    Source: MLSListings Inc,MLS#: ML81914150MLS Logo

    Facts & features

    Interior

    Kitchen
    • Features: Countertop_Granite, Countertop_Stone
    Heating
    • Central Forced Air Gas
    Cooling
    • None
    Appliances
    • Included: Dishwasher, Electric Oven/Range
    Interior area
    • Total structure area: 27,735
    • Total interior livable area: 27,735 sqft

    Property

    Parking
    • Total spaces: 24
    • Parking features: Carport, Common, Covered
    • Garage spaces: 24
    • Has carport: Yes
    Accessibility
    • Accessibility features: Elevator/Lift, Parking, Customized Wheelchair Accessible
    Lot
    • Size: 1.24 Acres
    Details
    • Parcel number: 045373090
    • Zoning: R40000
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Five Or More Units, Residential Income
    Materials
    • Foundation: Wood Frame
    • Roof: Foam
    Condition
    • Year built: 1969

    Utilities & green energy

    • Gas: PublicUtilities
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Public Utilities, Water Public

    Community & neighborhood

    Location
    • Region: Belmont

    Other

    Other facts
    • Listing agreement: ExclusiveRightToSell
    • Listing terms: Assumable, CashorConventionalLoan
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    Estimated market value
    $12,329,000