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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

$4,300,000

Est. payment - /mo

9,914 Sqft Lot

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OPEN HOUSE

Wed Jul 30, 11:00am - 1:00pm

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82015110

HOA Y/N No

Year Built 1961

Annual Tax Amount $47,150

Lot Size 9,914 Sqft

Property Description

2186 Carlmont Drive or The Palma Apartments are an impeccably-maintained and managed 10-unit multifamily property located in the exclusive Belmont Hills neighborhood of Belmont, California. Listed at $4,300,000, this multifamily investment property offers a unit mix of eight (8) 1-bedroom/1-bath units (675 sqft) and two (2) 2-bedroom/1-bath units (901 sqft) totaling 9,688 square feet of gross building area on a 10,000 square foot lot. The property features large patios/balconies, 11 tenant parking spaces, 11 individual storage closets, and circuit breakers throughout. Key upgrades include a 35-year laminated fiberglass shingle roof (2013), a 100-gallon water heater (replaced in 2022), and SB 721 inspections have been completed. All units are individually metered for gas and electricity, with wall heaters in the 1-bedroom units and forced air in 2-bedroom units. Currently generating nearly $285,000 in annual income with an in-place 15.15 GRM, this asset presents strong current cash flow with rental upside. Ideally located near Carlmont Village Shopping Center and top-rated schools, this is an excellent opportunity for investors seeking solid in-place income and long-term value in one of the Peninsulas strongest rental markets.

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning Multifamily Residential

Interior

Heating Wall Furnace

Fireplace No

Exterior

Carport Spaces 11

Roof Type Fiberglass,Shingle

Building

Water Public

Schools

Elementary Schools Other

Middle Schools Other

High Schools Carlmont

School District Other

Others

Tax ID 045023160

Special Listing Condition Standard

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Listed by Nate Gustavson Compass

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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2186 Carlmont DR Belmont, CA 94002

Sean Beattie Jr.

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Schools

Others

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