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Listed by Sam Runco • Marcus & Millichap
$ 17,500,000
Est. payment | /mo
3 Beds
3 Baths
23,075 SqFt
$ 17,500,000
Est. payment | /mo
3 Beds
3 Baths
23,075 SqFt
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 23,075 sqft
Price per Sqft $758
MLS Listing ID ML81995355
Bedrooms 3
Full Baths 3
Year Built 1957
Lot Size 0.893 Acres
Property Sub-Type Five or More Units
Property Description
1775 Marco Polo Way is a 40-unit multifamily property on a 0.9-acre lot in Burlingame, California. The property features a diverse unit mix: 12 studios, 24 one-bedroom/one-bath units, and 4 two-bedroom/two-bath units. The property has undergone extensive capital improvements, minimizing deferred maintenance and enhancing tenant appeal. All 40 units have received minor improvements, leaving ample room to upgrade finishes, fixtures, and layouts to contemporary standards. This repositioning strategy allows a buyer to capture significant rental upside in a supply-constrained Burlingame market, driving stronger cash flow and long-term value. Additional amenities include covered parking with individual storage lockers, a swimming pool, and on-site laundry facilities. There is also potential to add additional units to the site by building ADU's where the carports are. Strategically located in a thriving rental market, this investment offers immediate cash flow potential and long-term growth. Don't miss this rare opportunity to acquire this generational multifamily asset in one of the Peninsulas most sought-after locations.
Location
State CA
County San Mateo
Area Ray Park
Zoning R3
Interior
Heating Other
Cooling None
Exterior
Parking Features Covered Parking
Pool Pool - Fenced
Utilities Available Other
Roof Type Tar and Gravel
Building
Foundation Other
Sewer Other
Water Other
Others
Restrictions Other
Tax ID 025-142-020
Security Features Other
Special Listing Condition Not Applicable
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