CA > Burlingame
Burlingame, CA 94010,37 Lorton AVE
Burlingame, CA 94010,37 Lorton AVE
Burlingame, CA 94010,37 Lorton AVE
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Michael Langhals

Michael Langhals

+1(707) 490-4300
Listed by Scott Gerber • NORCAL COMMERCIAL • NORCAL COMMERCIAL
NORCAL COMMERCIAL
$4,300,000
Est. payment /mo
6,340 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 6,340 sqft

Price per Sqft $678

MLS Listing ID 425043145

HOA Y/N No

Year Built 1950

Lot Size 7,501 Sqft

Property Sub-Type 5 or More Units

Property Description

Situated on a flat, attractively low maintenance 0.17 acre parcel just steps from the heart of downtown Burlingame, 37 Lorton Avenue offers investors a rare opportunity to acquire a charming boutique apartment building in one of the most prestigious and supply-constrained rental markets on the San Francisco Peninsula. This well-maintained 9-unit property features eight one-bedroom units and one studio with assigned covered parking, on-site laundry, and an unbeatable location near shopping, restaurants, transit, SFO, and major employers. Priced below recent comps at $4,300,000, or $477,778 per unit, the starting cash flow of 3.13% grows to 4.68% at what are believed to be market rents, creating a clear path to strong financial performance for the foreseeable future.

Location

State CA

County San Mateo

Area Burlingame Downtown

Exterior

Parking Features Open, Off Street, Covered

Garage Spaces 10.0

Others

Special Listing Condition Offer As Is

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Michael Langhals

+1(707) 490-4300

Agent | DRE#DRE#01855818

Agent DRE#DRE#01855818

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