About 1500 Newlands Avenue
1500 Newlands Avenue is a well-constructed elevatored 20-unit apartment with secured parking for 24 cars and 21 storage lockers. It features a mix of (6) Two-Bedroom/1 Bathroom and (14) One-Bedroom/1 Bathroom units, all have a private patio or balcony. Current ownership has implemented a renovation program for 17 out of 20 units, giving a clear and proven plan for considerable rental upside upon turnover. Renovated units feature an in-unit washer/dryer, hardwood flooring, and recessed lighting. Renovated kitchens feature modern stainless steel appliances, granite countertops, tile backsplash, and shaker cabinetry. Bathrooms have sleek tiling with high-end shower heads and faucets. The building recently had new exterior and interior painting, brand new water-efficient landscaping, a new sewer main, and a security camera system throughout. This is a rare opportunity for investors to acquire an efficiently operated trophy property in a low-density A+ Location, on a prominent corner, just 3 short blocks from Burlingame Avenue.
Features of 1500 Newlands Avenue
| MLS® # | 424023977 |
|---|---|
| Price | $11,750,000 |
| Bedrooms | 26 |
| Bathrooms | 0.00 |
| Square Footage | 25,767 |
| Acres | 0.35 |
| Year Built | 1967 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 1500 Newlands Avenue |
|---|---|
| Area | Burlingame Park |
| City | Burlingame |
| County | San Mateo |
| State | CA |
| Zip Code | 94010 |
Amenities
| Parking Spaces | 24 |
|---|---|
| Parking | Garage Door Opener, Underground |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Stories | Two |
| Has Basement | No |
Exterior
| Lot Description | Landscape Front |
|---|
Additional Information
| Date Listed | April 1st, 2024 |
|---|
Listing Details
| Agent | Kevin S Caravelli |
|---|---|
| Office | Coldwell Banker Commercial Realty |