2441 Carlmont Dr - Apartments FOR SALE


Belmont, CA 94002
$12,450,000 USD
415-299-1124
2441 Carlmont Dr, Belmont, CA for Sale
$12,450,000 USD
Apartments - FOR SALE
1/51
null | 4.2% Cap Rate

2441 Carlmont Dr
Belmont, CA 94002


HIGHLIGHTS

  • Fully renovated 19-unit apartment complex with high-end finishes + one potential studio
  • Remodeled kitchens with garbage disposals and dishwashers
  • Some units with washers / dryers in units and fireplaces
  • Convenient Access: Easy access to major highways (I-280, I-101) for a quick commute to nearby cities like San Francisco, Palo Alto, and Silicon Valley
  • Prime Location: Nestled in the desirable Belmont Hills, offering a serene and peaceful setting with beautiful views of the Bay Area.
  • Top-Rated Schools: Located within the acclaimed Belmont-Redwood Shores School District, offering excellent educational opportunities.

OVERVIEW

The R&Z Group is pleased to introduce 2441 Carlmont Dr, Belmont CA 94002 to the market. Since 2022, this property has seen significant updates, with more than $1 million invested in both interior and exterior renovations. It features a total of nineteen spacious units with open-concept floor plans with a unit mix of (15) 2 Bed 2 Bath and (4) 1 Bed 1 Bath with an option to convert an office space into a studio with minimal capital expenditure. The newly remodeled apartments highlight modern design elements, including well lit hallways, new carpeting, premium stainless steel appliances, recessed LED lighting, engineered laminate flooring, updated kitchens and bathrooms with snow white quartz countertops, high-end cabinetry, washer/dryer (in select units) and gas fireplaces (in select units). Exterior improvements include, a newly replaced torched down roof in 2019, a refreshed landscaping that covers up the pool, a high capacity 100 gallon water heater with recirculation pump, dual pane windows and a fresh coat of paint. The property offers 19 assigned tuck under parking spaces, plus three additional parking spaces for an additional fee, private balconies for each unit, a central communal area, and an on-site laundry room equipped with three washers and dryers. Situated in a prime Belmont location, the property is located less than 2 miles from Downtown Belmont, Redwood Shores, San Mateo and Foster City home to major employers like Meta, EA, Oracle, and Gilead. With its strong appeal and excellent location, the property benefits from a robust rental market and historically low vacancy rates.

FOR SALE DETAILS

PRICE

$12,450,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

19

PRICE/UNIT

$655,263

CAP RATE

4.2%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

-

APN/PARCEL ID

045-030-190

ASK ABOUT THIS PROPERTY

Marshall WardCompassMore Info
415-299-1124

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Marshall WardCompassMore Info
415-299-1124

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.