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Multifamily

1617 6th Ave

1617 6th Ave, Belmont, CA 94002

Listing Price: $4,100,000

Cap Rate
4.21%
Number of Units
8
Occupancy
97.0%
Price/Unit
$512,500
Price/Gross SF
$491.25
Gross SF
8,346

Investment Overview

1617 Sixth Avenue is a recently renovated 8-unit apartment community in the highly desirable and affluent city of Belmont, California.  Situated on a 9,000 square foot parcel of land, the subject property was originally constructed in 1960 and has a gross building area of approximately 8,346 square feet, offering its tenants beautifully designed one-bedroom and two-bedroom floor plans. From 2016-2018, current ownership has implemented an extensive renovation program at the property. The subject property has undergone capital improvements including  updated landscaping, parking, balconies and patios. Select units have been meticulously renovated with air conditioning, new flooring, lighting, kitchen cabinets, countertops, backsplashes, appliances, ceiling fans and in-unit washers/dryers. Tenants and residents also enjoy access to convenient community amenities including private two-car tandem parking and storage rooms. The investment appeal of this asset is driven by Belmont's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the Bay Area, 1617 Sixth Ave presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

Investment Highlights

  • Exceptional Peninsula Investment Opportunity - Investors have the opportunity to acquire an exceptional multifamily asset
  • Desirable Unit Mix - 1617 Sixth Ave offers beautifully designed units consisting of (3) one-bedroom and (5) two-bedroom floor plans that feature modern unit amenities
  • Extensive Capital Improvements - Current ownership has implemented an extensive renovation program including updated landscaping, parking, balconies and patios
  • Attractive Unit and Community Amenities - Tenants and residents enjoy access to air conditioning, new flooring, lighting, kitchen cabinets, countertops, appliances, backsplashes, washers/dryers in select units, private two-car tandem parking and storage rooms

Exclusively Listed By

Multifamily

1617 6th Ave

Listing Price: $4,100,000

Cap Rate
4.21%
Number of Units
8
Occupancy
97.0%
Price/Unit
$512,500
Price/Gross SF
$491.25
Gross SF
8,346

Investment Highlights

  • Exceptional Peninsula Investment Opportunity - Investors have the opportunity to acquire an exceptional multifamily asset
  • Desirable Unit Mix - 1617 Sixth Ave offers beautifully designed units consisting of (3) one-bedroom and (5) two-bedroom floor plans that feature modern unit amenities
  • Extensive Capital Improvements - Current ownership has implemented an extensive renovation program including updated landscaping, parking, balconies and patios
  • Attractive Unit and Community Amenities - Tenants and residents enjoy access to air conditioning, new flooring, lighting, kitchen cabinets, countertops, appliances, backsplashes, washers/dryers in select units, private two-car tandem parking and storage rooms

Investment Overview

1617 Sixth Avenue is a recently renovated 8-unit apartment community in the highly desirable and affluent city of Belmont, California.  Situated on a 9,000 square foot parcel of land, the subject property was originally constructed in 1960 and has a gross building area of approximately 8,346 square feet, offering its tenants beautifully designed one-bedroom and two-bedroom floor plans. From 2016-2018, current ownership has implemented an extensive renovation program at the property. The subject property has undergone capital improvements including  updated landscaping, parking, balconies and patios. Select units have been meticulously renovated with air conditioning, new flooring, lighting, kitchen cabinets, countertops, backsplashes, appliances, ceiling fans and in-unit washers/dryers. Tenants and residents also enjoy access to convenient community amenities including private two-car tandem parking and storage rooms. The investment appeal of this asset is driven by Belmont's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the Bay Area, 1617 Sixth Ave presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

Exclusively Listed By

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