1205 Geraldine WAY Open House Save Request In-Person Tour Request Virtual Tour
Belmont,CA 94002
OPEN HOUSE
Wed Jul 23, 11:00am - 1:00pm Wed Jul 30, 11:00am - 1:00pm
Key Details
Property Type 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
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
Other Rooms Laundry Room
Kitchen Dishwasher,Oven Range - Electric,Refrigerator
Interior
Heating Wall Furnace
Cooling Ceiling Fan
Flooring Laminate
Laundry Coin Operated
Exterior
Exterior Feature Balcony / Patio
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
Restrictions None
Tax ID 045-061-120
Security Features None
Special Listing Condition Not Applicable