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$57,000+/Mon Passive Income-Best Belmont Apt 2200 Village Ct 23 Unit Apartment Building $13,874,441 CAD ($603,237 CAD/Unit) 4.11% Cap Rate Belmont, CA 94002
Investment Highlights
- Rarely Available, Generational 23 High-Quality Units w/ Spacious Floorplans & Panoramic View w/ Excellent Rental Upside
- SPACIOUS UNITS w/ Excellent Floorplans: (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF)
- Achieve 4.11% CAP / 15 GRM on In-Place Rents; Achieve 5.97% CAP / 11.3 GRM w/ 5 ADU's
- Easy-to-Manage, Strong Cashflow, Turnkey Opportunity w/ High Tenant Satisfaction and Low Tenant Turnover
- Potential to Convert 13 Carports w/ 9' Ceilings to Add 5 ADU at +/- 550 SF Each. Top to Bottom Elevator Access
Executive Summary
How Would you Like to Generate $57,000+/Month in Passive, Headache-Free Rental Income?
Why Buy a House w/ Limited Income and a Low Return (Maybe 2%) when you can Enjoy a 4.11%+ Return by Owning an Appreciable Real Asset in an A-Location w/ Excellent Schools?
OR Better Yet, Sell Your Highly-Appreciated Single Family Home w/ Only 1-Income and Buy a 23-Unit, Fully-Occupied w/ Excellent Tenants with Durable Income?
One of the VERY BEST Apartment Properties in the Peninsula. Easy to Rent and Manage. Walk to Carlmont Village. Rarely Available 23-Unit Asset in Highly Desirable Area. Iconic, One-of-a-Kind Generational Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. Excellent Public Schools (K to 12) Offer Rental Pricing Advantage. Walk to Carlmont High School. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. 41 Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport (14 Carports w/ 9' Ceilings) to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.11% / Pro-Forma CAP Rate: 5.0%. In-Place GRM: 15 / Pro-Forma GRM: 13.3. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF
Why Buy a House w/ Limited Income and a Low Return (Maybe 2%) when you can Enjoy a 4.11%+ Return by Owning an Appreciable Real Asset in an A-Location w/ Excellent Schools?
OR Better Yet, Sell Your Highly-Appreciated Single Family Home w/ Only 1-Income and Buy a 23-Unit, Fully-Occupied w/ Excellent Tenants with Durable Income?
One of the VERY BEST Apartment Properties in the Peninsula. Easy to Rent and Manage. Walk to Carlmont Village. Rarely Available 23-Unit Asset in Highly Desirable Area. Iconic, One-of-a-Kind Generational Property w/ Panoramic Views. Coupon-Clipper, Easy to Manage w/ Excellent Tenants and Stable Cashflow. Excellent Public Schools (K to 12) Offer Rental Pricing Advantage. Walk to Carlmont High School. (14) LARGE 1 BR/1 BA Units (+/- 644 to 736 SF) and (9) SPACIOUS 2 BR/1 BA Units (+/- 875 to 883 SF). All 23 Units Feature Dishwashers, w/ Potential to Add In-Unit Washer/Dryers. 41 Covered Carport Parking Spaces, Storage for Tenants and Top-to-Bottom Elevator Access. Convert +/- 2,565 SF of Enclosed Carport (14 Carports w/ 9' Ceilings) to (5) 1 BR/1 BA or Studio ADU's. 5 ADU's: Achieve $11,250/Month (or $135,000/Yr) in Additional Gross Rental Income. Over $500,000 Cap. Ex. Invested: Dual-Pane Windows, Roof, Copper Plumbing, 800 AMP Square D Panel. Walk Score: 80, With Walkability to Carlmont Village. Quick Access to Freeways 280 and 101. In-Place CAP Rate: 4.11% / Pro-Forma CAP Rate: 5.0%. In-Place GRM: 15 / Pro-Forma GRM: 13.3. CAP Rate (w/ 5 ADU's): 5.97% / GRM (w/ 5 ADU's): 11. Cost/SF: $410/SF
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$936,210
|
$37.77
|
| Other Income |
$13,369
|
$0.54
|
| Vacancy Loss |
$28,087
|
$1.13
|
| Effective Gross Income |
$921,493
|
$37.18
|
| Taxes |
$202,544
|
$8.17
|
| Operating Expenses |
$9,148
|
$0.37
|
| Total Expenses |
$211,691
|
$8.54
|
| Net Operating Income |
$709,801
|
$28.64
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $936,210 |
| Annual Per SF | $37.77 |
| Other Income (CAD) | |
|---|---|
| Annual | $13,369 |
| Annual Per SF | $0.54 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $28,087 |
| Annual Per SF | $1.13 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $921,493 |
| Annual Per SF | $37.18 |
| Taxes (CAD) | |
|---|---|
| Annual | $202,544 |
| Annual Per SF | $8.17 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $9,148 |
| Annual Per SF | $0.37 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $211,691 |
| Annual Per SF | $8.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $709,801 |
| Annual Per SF | $28.64 |
Property Facts
| Price | $13,874,441 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $603,237 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.52 AC |
| Cap Rate | 4.11% | Building Size | 24,785 SF |
| Gross Rent Multiplier | 15 | No. Stories | 3 |
| No. Units | 23 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 1.08/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R40000 | ||
| Price | $13,874,441 CAD |
| Price Per Unit | $603,237 CAD |
| Sale Type | Investment |
| Cap Rate | 4.11% |
| Gross Rent Multiplier | 15 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 24,785 SF |
| No. Stories | 3 |
| Year Built | 1965 |
| Parking Ratio | 1.08/1,000 SF |
| Zoning | R40000 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Refrigerator
- Oven
- Range
Site Amenities
- Property Manager on Site
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $3,212 CAD | 650 - 731 |
| 2+1 | 9 | $4,306 CAD | 840 |
Walk Score®
Very Walkable (72)
Property Taxes
| Parcel Number | 045-022-230 | Total Assessment | $15,186,558 CAD (2025) |
| Land Assessment | $4,509,264 CAD (2025) | Annual Taxes | $202,544 CAD ($8.17 CAD/SF) |
| Improvements Assessment | $10,677,294 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
045-022-230
Land Assessment
$4,509,264 CAD (2025)
Improvements Assessment
$10,677,294 CAD (2025)
Total Assessment
$15,186,558 CAD (2025)
Annual Taxes
$202,544 CAD ($8.17 CAD/SF)
Tax Year
2024
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$57,000+/Mon Passive Income-Best Belmont Apt | 2200 Village Ct
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