1239 Oak Grove Ave & 1404 Floribunda Ave
- Prestigious Pride of Ownership Asset in Downtown Burlingame – Investors have the rare opportunity to acquire a 76-unit apartment community located on two contiguous parcels situated two blocks from Downtown Burlingame.
- Exceptional Value-Add Opportunity – Purchaser has the opportunity to achieve significant rental premiums through interior and exterior renovations.
- Attractive Community Amenities – 1239 Oak Grove Ave & 1404 Floribunda Ave offers residents attractive community amenities including laundry facilities, picnic area and private parking.
- Substantially Large Parcels – The subject property is situated on two adjacent parcels of land totaling nearly 1 acre offering buyers the opportunity for development potential.
Portfolio Key Information
| Listing Status: | Available |
|---|---|
| Multifamily type: | Apartments |
| Price: | $ 30,399,999 |
| No. of Units: | 76 |
| Cap Rate: | 3.41% |
| GRM /GIM: | 17.25 |
| Year Built: | 1958 |
| Opportunity Zone: | No |
| Price per unit: | $400,000 |
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