55 El Camino RealBurlingame, CA 94010

Property Details for 55 El Camino Real

Year built

1961

Lot size

0.27 AC

Property size (Sq ft)

20,888 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

028-302-010

APU

28302010

Description

This exceptional 18-unit apartment building, located at 55 El Camino Real in Burlingame, California, presents a compelling investment opportunity. Recently reduced in price, this four-story building boasts a total of 20,888 square feet and sits on a 0.26-acre lot. The property has been under the same private ownership for 49 years, demonstrating its enduring appeal and stable tenancy. The unit mix comprises fifteen one-bedroom units and three two-bedroom, two-bathroom units, catering to a diverse range of renters. Residents enjoy convenient amenities including a refreshing swimming pool, a relaxing sundeck, secure underground parking, a convenient elevator for easy access to all floors, and added storage space for personal belongings. A built-in trash chute further enhances the building's practicality and convenience. Its prime location offers unparalleled access to the vibrant Burlingame Avenue, home to a wide array of shops and restaurants, making it highly desirable for tenants. This property represents a rare chance to acquire a well-maintained, established multifamily building in one of Burlingame's most sought-after neighborhoods. The asking price is $7,595,000.

• CAP approach

  CAP return

  Valuation

  6%

  $18,305,496

  6.5%

  $16,897,380

  7%

  $15,690,425

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,232,658

  Geo Method

  $9,030,102

• Alternative Use

  Use

  Valuation

  Residential

  $16,897,380

  Hospitality

  $15,477,910

  Educational

  $12,877,439

  Medical

  $13,320,314

  Retail

  $20,031,572

Location Insight

City

Burlingame

County

San Mateo

State

California

Latitude

37.5748

Longitude

-122.345

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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