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Multi-Family

1875 California Dr

1875 California Dr, Burlingame, CA 94010

Listing Price: $10,995,000

Lot Size
0.36 acres
Price/Acre
$30,205,739
Land Type
Redevelopment
Buildable Square Feet
48,725

Investment Overview

1875 California Drive is a 15,858 square foot development site located at the corner of California Drive and Murchison Drive in Burlingame. The site is rectangular in shape and has about 125 feet of frontage along California Drive and 124 feet of frontage along Murchison Drive. The size of the site and proximity to mass transit make it optimal for development. The general plan for the site is North Burlingame Mixed Use, which permits residential development up to 140 units per acre, office development at a maximum 2.0 floor area ratio, and commercial development at 1.0 floor area ratio maximum. With bonuses permitted under state law, the residential density can exceed 140 units per acre.

The site is less than one-quarter mile from the Millbrae Intermodal Station, which is serviced by Bay Area Rapid Transit (BART) and Caltrain. Consequently, the property enjoys excellent access to major employment centers in the region. BART is a regional rail system that runs along the San Francisco Peninsula and in the East Bay, with service expanding to the South Bay in the future. The ride from the Millbrae station to the Financial District in San Francisco takes about 30 minutes; downtown Oakland is about a 40-minute ride from the subject property. Caltrain runs from San Francisco to San Jose and services communities along the San Francisco Peninsula. The commute to San Jose is about one hour on Caltrain.

The property is located near several major redevelopment projects that will bring nearly one million square feet of office and commercial space to market in the next few years. The most significant development among these is Gateway at Millbrae Station, a mixed-use project that is currently under construction. The development will include 400 multi-family units, 151,153 square feet of office space, 44,123 square feet of retail space, and a 163-room hotel. This $400 million project is scheduled to be completed in 2021 and will transform the neightborhood. There are an additional 800,000 square feet of office space planned for this area, bringing employment opportunities to the neighborhood.

Investment Highlights

  • Proximate to BART and Caltrain
  • Explosive Commercial Expansion Nearby
  • Walking Distance to Retail Services
  • Exceptional Income Demographics
  • Prime Transit-Oriented Development Site

Exclusively Listed By

Listing Price: $10,995,000

Lot Size
0.36 acres
Price/Acre
$30,205,739
Land Type
Redevelopment
Buildable Square Feet
48,725

Investment Highlights

  • Proximate to BART and Caltrain
  • Explosive Commercial Expansion Nearby
  • Walking Distance to Retail Services
  • Exceptional Income Demographics
  • Prime Transit-Oriented Development Site

Investment Overview

1875 California Drive is a 15,858 square foot development site located at the corner of California Drive and Murchison Drive in Burlingame. The site is rectangular in shape and has about 125 feet of frontage along California Drive and 124 feet of frontage along Murchison Drive. The size of the site and proximity to mass transit make it optimal for development. The general plan for the site is North Burlingame Mixed Use, which permits residential development up to 140 units per acre, office development at a maximum 2.0 floor area ratio, and commercial development at 1.0 floor area ratio maximum. With bonuses permitted under state law, the residential density can exceed 140 units per acre.

The site is less than one-quarter mile from the Millbrae Intermodal Station, which is serviced by Bay Area Rapid Transit (BART) and Caltrain. Consequently, the property enjoys excellent access to major employment centers in the region. BART is a regional rail system that runs along the San Francisco Peninsula and in the East Bay, with service expanding to the South Bay in the future. The ride from the Millbrae station to the Financial District in San Francisco takes about 30 minutes; downtown Oakland is about a 40-minute ride from the subject property. Caltrain runs from San Francisco to San Jose and services communities along the San Francisco Peninsula. The commute to San Jose is about one hour on Caltrain.

The property is located near several major redevelopment projects that will bring nearly one million square feet of office and commercial space to market in the next few years. The most significant development among these is Gateway at Millbrae Station, a mixed-use project that is currently under construction. The development will include 400 multi-family units, 151,153 square feet of office space, 44,123 square feet of retail space, and a 163-room hotel. This $400 million project is scheduled to be completed in 2021 and will transform the neightborhood. There are an additional 800,000 square feet of office space planned for this area, bringing employment opportunities to the neighborhood.

Exclusively Listed By

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