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$2,900,000
$2,900,000
Est. payment /mo
9,125 Sqft Lot
Sold on 07/28/2025
1116 Douglas AVE Burlingame, CA 94010
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Key Details
Sold Price $2,900,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML82010264
Year Built 1936
Annual Tax Amount $32,384
Lot Size 9,125 Sqft
Property Description
The Coeur d'Alene Apartments are a well-maintained 10-unit multifamily property located just two (2) blocks from the heart of Burlingame Avenues vibrant shopping and dining district. The unit mix consists of six (6) studios and four (4) one-bedroom/one-bath apartments, with unique and well-maintained units and thoughtful updates throughout. The property features a NEW ROOF (2024), UPGRADED ELECTRICAL PANELS, and in 2025 has PASSED its SEWER LATERAL INSPECTION. --- Tenants enjoy convenience and comfort with amenities including eight (8) covered carport spaces, one (1) open parking space, and a fully finished storage room. Units are individually metered for gas and electric, and the property is heated via a central boiler and radiator system. ---- Investors will appreciate the strong in-place income with upside in rents, current cap rate of 3.82% and pro forma of 5.64%. Priced at $2,900,000 ($290,000/unit), this classic 1936 building offers a rare chance to acquire a stabilized asset in one of, if not THE BEST neighborhoods in all of Burlingame.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning Multifamily Residential
Interior
Heating Radiant
Exterior
Roof Type Flat
Building
Water Public
Schools
Elementary Schools Mckinley
Middle Schools Other
High Schools Burlingame
School District Other
Others
Special Listing Condition Standard
Listed by Nate Gustavson Compass
Bought with Nate Gustavson Compass
Bought with Nate Gustavson Compass