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508 El Camino Real 8 Unit Apartment Building $4,421,235 CAD ($552,654 CAD/Unit) 4.27% Cap Rate Burlingame, CA 94010
INVESTMENT HIGHLIGHTS
- Spacious units that are approximately 650 Sqft.
- On-site laundry allows for an additional source of revenue.
- Downtown Burlingame is a short walk away, which has over 50 restaurants and services.
- Each unit has its own balcony.
- Current and proposed developments will bring even more skilled and high wage earning employees to the area.
EXECUTIVE SUMMARY
508 El Camino Real is an eight-unit multifamily property located two blocks from Burlingame Avenue. Excellent price per unit at less than $400,000 per unit. Strong in-place rents with room to increase them and excellent value-add potential through upgrades and remodeling. Currently, the highest cap rate in the market. Residents enjoy amenities such as on-site parking and a laundry room while being a short walk away from the downtown.
PROPERTY FACTS Under Contract
| Price | $4,421,235 CAD | Property Subtype | Apartment |
| Price Per Unit | $552,654 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.27% | Lot Size | 0.20 AC |
| Gross Rent Multiplier | 15.21 | Building Size | 8,088 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1976 |
| Zoning | R30000 | ||
| Price | $4,421,235 CAD |
| Price Per Unit | $552,654 CAD |
| Sale Type | Investment |
| Cap Rate | 4.27% |
| Gross Rent Multiplier | 15.21 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 8,088 SF |
| No. Stories | 3 |
| Year Built | 1976 |
| Zoning | R30000 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 650 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 029-111-190 | Improvements Assessment | $590,051 CAD |
| Land Assessment | $273,496 CAD | Total Assessment | $863,547 CAD |
PROPERTY TAXES
Parcel Number
029-111-190
Land Assessment
$273,496 CAD
Improvements Assessment
$590,051 CAD
Total Assessment
$863,547 CAD
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508 El Camino Real
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