$ 4,950,000
-
$4,950,000
Price -
0
Bed - Bath
-
7,296
SqFt
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About the Listing ML6043303 - ML5104931
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.
Listing Highlights for 121 Lorton Ave
Status
Active
Days on Site
3
Property Type
Commercial Sale
MLS ®
ML82025521
Year Built
1962
Total Square Footage
7,296
Lot/Acreage
N/A
County
San Mateo
Area
699 - Not Defined
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Gas
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: R-4-I
- Roof: Foam
- Others:
- Sewer:
Financial Details
- Tax Amount: $55,912
- Taxes w/Assessments: N/A
- Tax/Property ID: 029224110
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
121 Lorton Ave Burlingame, CA 94010
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