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$20,000,000
Est. payment /mo
0.89 Acres Lot
UPDATED:
02/25/2025 08:26 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81995355
HOA Y/N No
Year Built 1957
Annual Tax Amount $225,597
Lot Size 0.893 Acres
Property Description
1775 Marco Polo Way is a 40-unit multifamily property on a 0.9-acre lot in Burlingame, California. The property features a diverse unit mix: 12 studios, 24 one-bedroom/one-bath units, and 4 two-bedroom/two-bath units. 18 of the units are leased under the Abode Housing program, ensuring guaranteed rental payments, reduced turnover risk, and stable tenancy. The property has undergone extensive capital improvements, minimizing deferred maintenance and enhancing tenant appeal. Many units have been renovated, offering modernized living spaces. Additional amenities include covered parking with individual storage lockers, a swimming pool, and on-site laundry facilities. There is also potential to add additional units to the site by building ADU's where the carports are. Strategically located in a thriving rental market, this investment offers immediate cash flow potential and long-term growth. Don't miss this rare opportunity to acquire a high-performing multifamily asset in one of the Peninsulas most sought-after locations.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R3
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 40
Utilities Available Other
Roof Type Tar/Gravel
Total Parking Spaces 40
Building
Water Other
Schools
School District Other
Others
Tax ID 025142020
Special Listing Condition Standard
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Listed by Sam Runco • Marcus & Millichap
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David Burchell
Team Leader & Realtor | License ID: #02033130
Team Leader & Realtor License ID: #02033130