1220 6th Ave
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1220 6th Ave
7 Unit Apartment Building $5,151,626 CAD ($735,947 CAD/Unit) 3.05% Cap Rate Belmont, CA 94002
INVESTMENT HIGHLIGHTS
- Located beside Belmont City Hall
- Located beside Belmont City Police Department
EXECUTIVE SUMMARY
Great opportunity for a new apartment development. 20-25 units with a 50 ft. building height.
INCREDIBLE DEVELOPMENT OPPORTUNITY!
The property, according to the city of Belmont planner should accommodate new 25-30
multi-family units consisting of studios and one-bedroom units up to 50-55 feet high.
Located in the heart of downtown Belmont next to Belmont
City Hall and Belmont Police Department providing a convenient and secure
environment. This is a fantastic opportunity for buyers or developers looking
to invest in a well-located site that offers proximity to transportation,
retail and essential services.
Directly across the street include Safeway, Starbucks, Peets
Coffee, Toto’s Pizza Parlor, Wells Fargo Bank, restaurants, yogurt shop, etc.
One block away is El Camino Real with Sam Trans bus service and railway connections
from San Francisco to San Jose. One block north is Ralston Ave with easy access
to highways 101 and 280.
INCREDIBLE DEVELOPMENT OPPORTUNITY!
The property, according to the city of Belmont planner should accommodate new 25-30
multi-family units consisting of studios and one-bedroom units up to 50-55 feet high.
Located in the heart of downtown Belmont next to Belmont
City Hall and Belmont Police Department providing a convenient and secure
environment. This is a fantastic opportunity for buyers or developers looking
to invest in a well-located site that offers proximity to transportation,
retail and essential services.
Directly across the street include Safeway, Starbucks, Peets
Coffee, Toto’s Pizza Parlor, Wells Fargo Bank, restaurants, yogurt shop, etc.
One block away is El Camino Real with Sam Trans bus service and railway connections
from San Francisco to San Jose. One block north is Ralston Ave with easy access
to highways 101 and 280.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$256,291
|
$87.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,583
|
$2.60
|
| Effective Gross Income |
$248,708
|
$85.29
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $256,291 |
| Annual Per SF | $87.89 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,583 |
| Annual Per SF | $2.60 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $248,708 |
| Annual Per SF | $85.29 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $5,151,626 CAD | Property Subtype | Apartment |
| Price Per Unit | $735,947 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 3.05% | Building Size | 2,916 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| Gross Rent Multiplier | 20.1 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1949 |
| Property Type | Multifamily |
| Price | $5,151,626 CAD |
| Price Per Unit | $735,947 CAD |
| Sale Type | Investment |
| Cap Rate | 3.05% |
| Sale Condition | Redevelopment Project |
| Gross Rent Multiplier | 20.1 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.18 AC |
| Building Size | 2,916 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1949 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 1 | - | 1,000 |
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Walk Score®
Walker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 045-181-090 | Improvements Assessment | $332,346 CAD |
| Land Assessment | $233,223 CAD | Total Assessment | $565,569 CAD |
PROPERTY TAXES
Parcel Number
045-181-090
Land Assessment
$233,223 CAD
Improvements Assessment
$332,346 CAD
Total Assessment
$565,569 CAD
ZONING
| Zoning Code | C2, Belmont |
| C2, Belmont |
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1220 6th Ave
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