Carlmont Hills Apartments 2401 Carlmont Dr 16 Unit Apartment Building $9,405,648 CAD ($587,853 CAD/Unit) 6.19% Cap Rate Belmont, CA 94002

Carlmont Hills Apartments is a stunning 16-unit multi-family community located in the hills of Belmont, CA, one of the strongest rental markets. The subject property was originally constructed in 1961 and offers a highly desirable unit mix consisting of all 16 two-bedroom, one-bathroom units. The property has a total of 17,478 square feet of living space and is situated on approximately half an acre of land. The property has undergone extensive interior renovations complete with modern, high-end finishes including new cabinets, granite countertops, wood laminate flooring and stainless steel appliances. Each unit also benefits from its own private patio or balcony. The Carlmont Hills Apartments are centrally located in the heart of the Silicon Valley. Many of the nation’s top Tech employers are located within close proximity including Oracle, Sun Microsystems, Visa, Sony, Electronic Arts (EA), Franklin Templeton Investments as well as many others. The subject property also benefits from its close proximity to Ralston Avenue, which feeds directly into highways 92, 280 and 101 providing easy access to all major Bay Area locations. The investment appeal of this asset is driven by the areas strong employment fundamentals; low vacancy levels and consistent rental growth. Carlmont Hills Apartments is well positioned for significant NOI growth given its location and perpetual housing constraints in the market as well as the continued economic upturn in the Silicon Valley.