Historic Duplex with Detached
1000 O Neill Street Belmont, CA 94002
1000 O Neill Street, Belmont, CA, 94002
$2,788,000
For Sale
$2,788,000
Landmark 2-story duplex with two 3-bed, 2-bath units and a detached two-car garage with storage.
Property Size3,023 SF
Lot Size0.41 Acres
Price / SF$922.26
Days on Market72
Property Features for 1000 O Neill Street
General Information
- Standard status
- Active
- Size
- 3,023 SF
- Lot size
- 0.41 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1885
Listing agency
Landmark Real Estate Services
(650) 670-0890
Listed by
Abe Matar · License #01417693
(650) 670-0890
Source
Exitrealty
Added: May 13 Updated: Jul 22 at 8:25PM Checked: Jul 22 at 8:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Landmark Real Estate Services
Investment Insights
Based on property information with market context.
The Emmett House is a preserved late-1800s, landmark 2-story duplex featuring two spacious units, each with three bedrooms and two bathrooms. The property totals approximately 3,023 square feet across both units, excluding an additional approximately 600 square feet detached two-car garage that includes extra storage for added flexibility.
Set on an expansive approximately 17,774 square foot lot, the building’s historic exterior facade reflects early Belmont’s architectural character. The listing also notes the property may offer future value-add potential, including possible interior modifications to create up to four units plus an ADU, subject to buyer investigation and city approvals.
The property is offered with no BMR purchase or local rental restrictions noted in the listing. It is positioned near downtown Belmont and within reach of shopping, dining, parks, schools, Caltrain, and commute routes serving Peninsula employment centers.
Set on an expansive approximately 17,774 square foot lot, the building’s historic exterior facade reflects early Belmont’s architectural character. The listing also notes the property may offer future value-add potential, including possible interior modifications to create up to four units plus an ADU, subject to buyer investigation and city approvals.
The property is offered with no BMR purchase or local rental restrictions noted in the listing. It is positioned near downtown Belmont and within reach of shopping, dining, parks, schools, Caltrain, and commute routes serving Peninsula employment centers.
Key Highlights
- Historic 2‑story duplex built in 1885 with a historically significant exterior facade
- Two spacious units; each unit offers 3 beds and 2 baths
- Total living area approx. 3,023 sq ft (not including detached garage)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.2k | $44.40 |
| − Vacancy | −$8.7k | −$2.89 |
| EGI | $125.5k | $41.51 |
| − OpEx | −$37.6k | −$12.45 |
| NOI | $87.8k | $29.06 |
3,023 SF · lease $44.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.10M – $1.46M
NOI $87,848 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,277 @ 7.0% cap · market cap 2.95%
Theoretical Best
Warehouse
$2.40M
$2.10M – $2.80M
NOI $168,084 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Landmark 2-story duplex with two 3-bed, 2-bath units and a detached two-car garage with storage.
Where is this duplex located?
The property is located at 1000 O Neill Street Belmont, CA.
What is the asking price?
The asking price for this property is $2,788,000.
What are key features of this property?
This property features: Historic 2‑story duplex built in 1885 with a historically significant exterior facade; Two spacious units; each unit offers 3 beds and 2 baths; Total living area approx. 3,023 sq ft (not including detached garage)
