121 Lorton Avenue, Burlingame, CA 94010 – ML82025521

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Sean Beattie

sean@brivio.com +1(415) 716-7190

Listed by Don Sung • Colliers Parrish International, Inc.

$4,950,000

Est. payment - /mo

7,296 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 7,296 sqft

Price per Sqft $678

MLS Listing ID ML82025521

HOA Y/N No

Year Built 1962

Lot Size 7,500 Sqft

Property Sub-Type Other

Source Datashare MLSListings

Property Description

IRREPLACEABLE Downtown Burlingame Location. STEPS TO DOWNTOWN. First Time on Market in 50+ Years. Walk Score: 97. Howard Ave (1 Blk), Burlingame Ave (2 Blks), Caltrain Burlingame (2 Blks). VERY LARGE, SPACIOUS Units: 2 BR/2 BA (911 SF to 945 SF),1 BR/1 BA (540 SF to 600 SF). Generational Purchase Opportunity. Excellent Unit Mix: Six (6) 2 BR/2 BA, Three (3) 1 BR/1 BA Units. Dishwashers in All Units. Potential to Add In-Unit Washer & Dryers. Spacious Balconies (Outdoor Living) and Private Storage Rooms. Achieve Luxury Apartment Home/Condo-Quality Finishes @ $6/SF Rents w/ Renovations and Unit Turns. Top To Bottom Elevator Access (Elevator Can Be Restored). Potential to Convert 9 Tucked-Under Carports to 3 ADU's (1 BR or 2 BR Units @ +/- 648 SF Each). 3 Additional ADU's Equate to $118,000 ($9,900/Month) in Additional Rents. 100-Block of Lorton Ave Offers R-4-I Zoning: High Density Residential w/ Incentive Overlay (Less Than 1/2 Mile From CalTrain). R-4-I Zoning Offers Maximum Density of 80 Units/Acre, Equating to 13 Units. R-4-I Tier 1 Height Limit: Up to 46 Ft. (5 Stories) - No Public Benefits Necessary. Multi-Parcel Assemblage Opportunity for Meaningful, Large-Scale Development. Low Operating Expense Ratio (29%). Ask About Multiple Ways to Increase Cashflow and Higher CAP Rate.

Location

State CA

County San Mateo

Interior

Heating Forced Air

Cooling Central Air

Flooring Hardwood, Tile

Fireplace No

Appliance Dishwasher, Refrigerator

Laundry Coin Operated

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Sean Beattie

+1(415) 716-7190

Broker Associate | CA DRE# 01304100

Broker Associate CA DRE# 01304100

121 Lorton Avenue Burlingame, CA 94010

Sean Beattie

Key Details

Location

Interior

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