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Listed by Nate Gustavson • Compass

$5,000,000

Est. payment - /mo

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3 Beds

2 Baths

13,483 SqFt

Active

1205 Geraldine WAY Belmont, CA 94002

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Xavier Williams

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Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 13,483 sqft

Price per Sqft $370

MLS Listing ID ML82015115

Bedrooms 3

Full Baths 2

Year Built 1969

Lot Size 0.275 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

1205 Geraldine Way is an extraordinarily well-maintained 12-unit apartment complex located in the exclusive Belmont Hills neighborhood of Belmont, California. Priced at $5,000,000, this multifamily investment property offers a unit mix of eleven (11) spacious 1-bedroom/1-bath units (700 sqft) and one (1) 2-bedroom/1-bath unit (940 sqft). Recent capital improvements include a Brand New Roof (2024) with a 40-year life expectancy, dual-pane windows, circuit breakers throughout, and half of the units have been recently renovated (1,4,6,8,11 & 12). The sewer lateral was replaced and cleared in 2018, SB-721 inspections are completed, and the attic was insulated to improve energy efficiency and tenant comfort. The property features 14 parking spaces, individual tenant storage, and a coin-operated laundry machines. All units are individually metered for gas and electric. With an in-place GRM of 14.87, this stabilized asset generates over $338,000 in gross annual income. Ideally located near Carlmont Village Shopping Center and top-rated schools, this is an excellent opportunity for investors seeking solid in-place income and long-term value in one of the Peninsulas strongest rental markets.

Location

State CA

County San Mateo

Area Belmont Woods Etc.

Zoning Multifamily Residential

Rooms

Kitchen Dishwasher, Oven Range - Electric, Refrigerator

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Flooring Laminate

Laundry Coin Operated

Exterior

Parking Features Assigned Spaces, Covered Parking

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Composition,Shingle

Building

Foundation Concrete Slab

Sewer Sewer - Public, Sewer Connected

Water Public

Others

Tax ID 045-061-120

Special Listing Condition Not Applicable

MORTGAGE CALCULATOR

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5450 Thornwood Dr Ste F, San Jose, California, 95123, USA