Two-Unit Duplex with Conversion
For Sale
$2,100,000
1041 Paloma Avenue, Burlingame, CA 94010
Separate residences offer flexible living arrangements, private laundry, a backyard, basement storage, and a carport.
Property Size2,652 SF
Lot Size0.16 Acres
Price / SF$791.86
Days on Market119
Property Features for 1041 Paloma Avenue
General Information
Standard status
Active
Size
2,652 SF
Lot size
0.16 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
private backyard
carport
balcony
basement
washer/dryer
double pane windows
Forced Air
Gas
Washer/Dryer
Public Utilities, Water - Public, Composition
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Compass
Listed By:
Greg Stange
(650) 208-5196
Source:
Kw
Added: Jun 11
Changed: Oct 6
Last Checked: Oct 5 at 4:55PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1910, this duplex offers two distinct residences with complementary layouts. The first-floor unit contains three bedrooms, one bathroom, 1,714sf of living space, refinished hardwood floors, high ceilings, spacious closets, updated light fixtures, fresh paint, a basement with washer and dryer, and access to a private backyard with a shade tree. A carport serves the property.
The upper unit provides two bedrooms, one bathroom, 938sf of living space, an open living area, eat-in kitchen, washer and dryer, storage, double-pane windows, and a balcony. The property occupies a 6900sf lot and includes plans to convert the duplex into a 3 Beds, 3 Baths, 3,204sf single-family home. Public water and utilities, forced-air heating, gas service, and composition exterior materials are listed among the property features. The address is near Broadway, shops, cafes, restaurants, downtown Burlingame, 101, and SFO.
The upper unit provides two bedrooms, one bathroom, 938sf of living space, an open living area, eat-in kitchen, washer and dryer, storage, double-pane windows, and a balcony. The property occupies a 6900sf lot and includes plans to convert the duplex into a 3 Beds, 3 Baths, 3,204sf single-family home. Public water and utilities, forced-air heating, gas service, and composition exterior materials are listed among the property features. The address is near Broadway, shops, cafes, restaurants, downtown Burlingame, 101, and SFO.
Key Highlights
- First‑floor unit includes 3 Beds, 1 Bath, and 1,714sf of living space
- Upstairs residence offers 2 Beds, 1 Bath, and 938sf of living space
- Plans included to convert the duplex into a 3 Beds, 3 Baths, 3,204sf single‑family home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,067
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,541,340
$1.5M
Cap Rate 7%
$1,100,957
$1.1M
Cap Rate 9%
$856,300
$856.3K
Market Conditions
NOI Build-Up for 2,652 SF
Gross rent
$117.7K $44.40/SF
− Vacancy
−$7.7K −$2.89/SF
EGI
$110.1K $41.51/SF
− OpEx
−$33.0K −$12.45/SF
NOI
$77.1K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,541,340
Cap Rate 7%
$1,100,957
Cap Rate 9%
$856,300
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.3K – $1.28M
NOI $77,067 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$1.03M
$902.3K – $1.20M
NOI $72,180 @ 7.0% cap · market cap 3.44%
Theoretical Best
Warehouse
$2.11M
$1.84M – $2.46M
NOI $147,456 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 94010, CA
44,045
Population
17,834
Households
2.5
Avg Household Size
42
Median Age
69%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,917
Density / Sq Mi
$191,758
Median Household Income
$101,100
Median Earnings
$2,655
Median Rent
$2,000,001
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer flexible living arrangements, private laundry, a backyard, basement storage, and a carport.
Where is this duplex located?
The property is located at 1041 Paloma Avenue Burlingame, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: First‑floor unit includes 3 Beds, 1 Bath, and 1,714sf of living space; Upstairs residence offers 2 Beds, 1 Bath, and 938sf of living space; Plans included to convert the duplex into a 3 Beds, 3 Baths, 3,204sf single‑family home
