1220 Sixth AveBelmont, CA 94002

  • Apartment buildings
  • 2,916 SF
For Sale
$3,561,442 View listing

Property Details for 1220 Sixth Ave

Year built
1949
Lot size
0.18 AC
Property size (Sq ft)
2,916 SF
Property type
Apartment buildings
APN
045-181-090
APU
45181090

Description

This exceptional 0.18-acre lot at 1220 Sixth Avenue in Belmont, California, presents a remarkable opportunity for developers. The property boasts a substantial 2,916 square feet of land, perfectly situated for a new apartment development project. Preliminary plans suggest the potential to construct a building of approximately 20-25 units, taking advantage of a permitted building height of 50 feet. The site's location in Belmont offers excellent access to local amenities, transportation networks, and a thriving community. This is a rare chance to acquire a sizable parcel in a desirable area, ready for the creation of a high-quality residential development. The property is zoned for commercial use and is currently vacant, allowing for immediate commencement of construction. Detailed site plans and zoning information are available upon request. This prime location and significant development potential make this an exceptional investment opportunity. Serious inquiries only. The asking price reflects the significant potential of this development site. Don't miss this chance to build your next successful project.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,555,478
    6.5%
    $2,358,903
    7%
    $2,190,410
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,266,106
    Geo Method
    $1,260,617
  • Alternative Use

    Use
    Valuation
    Residential
    $2,358,903
    Hospitality
    $2,160,742
    Educational
    $1,797,712
    Medical
    $1,859,538
    Retail
    $2,796,441

Location Insight

City
Belmont
County
San Mateo
State
California
Latitude
37.5177
Longitude
-122.276
CBSA code
41860
CBSA name
SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$10,995
$166,623
$237,439
$404,062
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-
-
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FAQs

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