Belmont, CA 94002,1056 Continentals WAY
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Belmont, CA 94002,1056 Continentals WAY
Belmont, CA 94002,1056 Continentals WAY
Belmont, CA 94002,1056 Continentals WAY
Belmont, CA 94002,1056 Continentals WAY

$12,000,000

Est. payment /mo

$12,950,000

7.3%
Est.Price: ?

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1056 Continentals WAY Belmont, CA 94002

1.24 Acres Lot

SOLD DATE : 04/07/2023

Key Details

Sold Price $12,000,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID ML81914150

Sold Date 04/07/23

HOA Y/N No

Year Built 1969

Annual Tax Amount $176,550

Lot Size 1.240 Acres

Property Description

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!

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning R40000

Interior

Cooling None

Fireplace No

Exterior

Carport Spaces 24

Roof Type Foam

Building

Water Public

Schools

School District Other

Others

Tax ID 045373090

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Don Sung • Colliers Parrish International
Bought with Gregory Terry • Compass
agent
Sam Louis

License ID: 02203602

+1(949) 357-0611 | sam@louisestategroup.com

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