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$20,000,000
Est. payment /mo
23,075 SqFt
OPEN HOUSE
Tue Mar 04, 1:30pm - 3:00pm
Fri Mar 07, 11:30am - 12:30pm
Tue Mar 11, 11:30am - 12:30pm
UPDATED:
02/27/2025 06:23 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 23,075 sqft
Price per Sqft $866
MLS Listing ID ML81995355
HOA Y/N No
Year Built 1957
Lot Size 0.893 Acres
Acres 0.89
Property Sub-Type Other
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
Zoning R3
Interior
Heating Other
Cooling None
Fireplace No
Exterior
Handicap Access Other
Building
New Construction No
Others
Tax ID 025142020
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Listed by Sam Runco • Marcus & Millichap