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1113 Chula Vista Ave

8 Unit Block of Flats £2,844,036 (£355,504/Unit) 3.38% Net Initial Yield Burlingame, CA 94010

Executive Summary

1113 Chula Vista Ave is an exceptional 8-unit investment opportunity located in the thriving city of Burlingame, California.
Situated on a parcel of land totaling 5,750 square feet, the subject property was originally constructed in 1946 and has a gross building area of approximately 10,450 square feet, offering its tenants beautifully designed one-bedroom floor plans. The property is equipped with a completely upgraded electrical system throughout the building.
The subject property is situated just over one block from the Broadway Caltrain Station, fostering connectivity to the entire Bay Area. Additionally, 1113 Chula Vista Ave is approximately three miles from the San Francisco International Airport allowing tenants to easily travel across state borders and internationally. The subject property is also nearby Downtown Burlingame and the Broadway Business District. Both districts feature a growing variety of locally owned businesses, shops, and boutiques, along with many restaurants and cafes.
1113 Chula Vista Ave offers tenants convenient access to nearby transportation corridors with U.S. Route 101, Interstate 280, and the San Mateo-Hayward Bridge. Nearby transportation corridors give tenants easy access to many of the nation's top employers including Google, Facebook, Stanford, Box Inc., Visa, Sony as well as many others.
The investment appeal of this asset is driven by Burlingame’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the Peninsula, 1113 Chula Vista Ave presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, and access to shopping, dining, and entertainment hubs.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £2,844,036
Price Per Unit £355,504
Sale Type Investment
Net Initial Yield 3.38%
Gross Rent Multiplier 17.56
No. Units 8
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.13 AC
Building Size 10,450 SF
Number of Floors 2
Year Built 1946
Tenancy Single
Parking Ratio 0.86/1,000 SF

Unit Amenities

  • Air Conditioning
  • Storage Space
  • Heating
  • Kitchen
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Laundry Facilities
  • Storage Space
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 8 - -
Walk Score ®
Walker's Paradise (90)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
026-192-070
Land Assessment
£929,571
Improvements Assessment
£817,533
Total Assessment
£1,747,105
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code R3
R3
  • Listing ID: 33791966

  • Date on Market: 07/11/2024

  • Last Updated:

  • Address: 1113 Chula Vista Ave, Burlingame, CA 94010

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