1500 NEWLANDS AVE BURLINGAME, CA 94010

Features

• Price/sqft: $475
• Lot Size: 0.3512 acres
• Total Units: 11
• Total Rooms: 66
• Stories: 300

Facts

• Year Built: 01/01/1967
• Property ID: 894580546
• MLS Number: 424023977
• Parcel Number: 028-292-300
• Property Type: Multi-family (5 or more units)
• County: San Mateo
• Legal Description: LOT 3 BURLINGAME HEIGHTS RSM 3/67

Description

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

This listing is NOT a foreclosure. 1500 Newlands Avenue is a well-constructed elevatored 20-unit apartment with secured parking for 24 cars and 21 storage lockers. It features a mix of (6) Two-Bedroom/1 Bathroom and (14) One-Bedroom/1 Bathroom units, all have a private patio or balcony. Current ownership has implemented a renovation program for 17 out of 20 units, giving a clear and proven plan for considerable rental upside upon turnover. Renovated units feature an in-unit washer/dryer, hardwood flooring, and recessed lighting. Renovated kitchens feature modern stainless steel appliances, granite countertops, tile backsplash, and shaker cabinetry. Bathrooms have sleek tiling with high-end shower heads and faucets. The building recently had new exterior and interior painting, brand new water-efficient landscaping, a new sewer main, and a security camera system throughout. This is a rare opportunity for investors to acquire an efficiently operated trophy property in a low-density A+ Location, on a prominent corner, just 3 short blocks from Burlingame Avenue.