615 Rollins Rd
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615 Rollins Rd
4 Unit Apartment Building Offered at £1,777,522 at a 3.23% Net Initial Yield in Burlingame, CA 94010
Investment Highlights
- An investor has the opportunity to acquire a well-located asset in one of the most dynamic and desirable locations in the Bay Area.
- The subject property is less than 30 minutes from San Francisco and 45 minutes from San Jose.
- There are also various public transportation options in close proximity including BART, Caltrain, and SamTrans.
- Between San Francisco Bay Area and San Jose there are more than 3.5 million jobs.
- The subject property is just a few minutes' drive from U.S. Route 101 or Interstate 280.
- Throughout the Bay Area and Silicon Valley, there are many renown employers including 38 Fortune 500 companies.
Executive Summary
615 Rollins Rd is a stunning 4-unit multifamily asset located in the thriving city of Burlingame, California.
Situated on a 5,769 square foot parcel of land, the subject property was originally constructed in 1951 and has a gross building area of approximately 2,7644 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property also offers tenants convenient amenities such as private covered parking and on-site laundry.
Burlingame is strategically located between San Francisco and San Jose. The city is well situated and offers an ideal climate in a robust and successful community and region. The city offers a vibrant business and retail environment with several major shopping centers and an active downtown area. Many notable attractions in the city include the many street retailers lined along the popular parallel retail streets Broadway Ave and Burlingame Ave.
The investment appeal of this asset is driven by Burlingame's strong employment fundamentals, low vacancy levels, and moderate climate. With a world-class location in the heart of the Peninsula, 615 Rollins Rd presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
Situated on a 5,769 square foot parcel of land, the subject property was originally constructed in 1951 and has a gross building area of approximately 2,7644 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property also offers tenants convenient amenities such as private covered parking and on-site laundry.
Burlingame is strategically located between San Francisco and San Jose. The city is well situated and offers an ideal climate in a robust and successful community and region. The city offers a vibrant business and retail environment with several major shopping centers and an active downtown area. Many notable attractions in the city include the many street retailers lined along the popular parallel retail streets Broadway Ave and Burlingame Ave.
The investment appeal of this asset is driven by Burlingame's strong employment fundamentals, low vacancy levels, and moderate climate. With a world-class location in the heart of the Peninsula, 615 Rollins Rd presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
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 | £1,777,522 | Lot Size | 0.13 AC |
| Price Per Unit | £444,381 | Building Size | 2,764 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Net Initial Yield | 3.23% | Number of Floors | 2 |
| Gross Rent Multiplier | 19.53 | Year Built | 1951 |
| No. Units | 4 | Parking Ratio | 1.45/1,000 SF |
| Property Type | Residential |
| Price | £1,777,522 |
| Price Per Unit | £444,381 |
| Sale Type | Investment |
| Net Initial Yield | 3.23% |
| Gross Rent Multiplier | 19.53 |
| No. Units | 4 |
| Property Type | Residential |
| Lot Size | 0.13 AC |
| Building Size | 2,764 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.45/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 2 | - | - |
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 029-083-060 | Total Assessment | £127,037 |
| Land Assessment | £36,814 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £90,222 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
029-083-060
Land Assessment
£36,814
Improvements Assessment
£90,222
Total Assessment
£127,037
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
-
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