1205 Geraldine Way is an extraordinarily well-maintained 12-unit apartment complex located in the exclusive Belmont Hills neighborhood of Belmont, California. Priced at $5,000,000, this multifamily investment property offers a unit mix of eleven (11) spacious 1-bedroom/1-bath units (700 sqft) and one (1) 2-bedroom/1-bath unit (940 sqft). Recent capital improvements include… Read More a Brand New Roof (2024) with a 40-year life expectancy, dual-pane windows, circuit breakers throughout, and 75% OF THE UNITS HAVE BEEN RECENTLY RENOVATED (1, 3, 4, 5, 6, 7, 8, 11 & 12). The sewer lateral was replaced and cleared in 2018, SB-721 inspections are completed, and the attic was insulated to improve energy efficiency and tenant comfort. The property features 14 parking spaces, individual tenant storage, and a coin-operated laundry machines. All units are individually metered for gas and electric. With an in-place GRM of 14.54, this stabilized asset generates over $345,865 in gross annual income. 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. Read Less
Courtesy of Compass, Nate Gustavson 415-786-9410
Listing Snapshot
Days Online
80
Last Updated
Property Type
Five Or More Units
Square Ft.
13,483
Lot Size
0.28 Acres
Year Built
1969
MLS Number
ML82015115
30 Days Snapshot Of 94002
$2.28M
+2%
(avg) sold price
9
-30%
homes sold
21
-25%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 12000.00, Max Area Units: Square Feet, Lot is 0.27548209366391 acres
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