Multifamily Apartment
1140 El Camino Real Burlingame, CA 94010
1140 El Camino Real, Burlingame, CA, 94010
$2,995,000
For Sale
$2,995,000
Spacious 1-bedroom units with individual water heaters and recent capital improvements, plus potential for ADU conversion of carports.
Property Size4,883 SF
Price / SF$613.35
Days on Market82
Property Features for 1140 El Camino Real
General Information
- Standard status
- Active
- Size
- 4,883 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1952
Listing Agency
Colliers Parrish International, Inc.
(650) 380-5188
Listed by
Don Sung · License #01935797
(650) 380-5188
Source
Exitrealty
Added: May 1 Updated: Jul 20 at 6:29 pm Checked: Jul 20 at 6:29 pm
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 Colliers Parrish International, Inc.
Investment Insights
Based on property information with market context.
This multifamily apartment building offers spacious 1-bedroom, 1-bath units with desirable floorplans. The property includes individual water heaters (one per unit), and capital improvements cited include plumbing and electrical work, dual-pane windows, new roofs, new water heaters, and additional upgrades. There is also described potential to modify unit amenities such as adding dishwashers and in-unit washer and dryers.
The parcel is identified as R-3 zoning, offering medium- to high-density residential development potential in the future. The property includes six covered carports with a 7'6" ceiling, with a described opportunity to convert them into two ADUs, each planned as a 1-bedroom, 1-bath unit of approximately 600 square feet.
Conveniently located on El Camino Real in Burlingame, the property is described as within walking distance to Broadway shops and the Cal-Train station, with easy access to El Camino Real and major nearby routes including 101 and 280.
The parcel is identified as R-3 zoning, offering medium- to high-density residential development potential in the future. The property includes six covered carports with a 7'6" ceiling, with a described opportunity to convert them into two ADUs, each planned as a 1-bedroom, 1-bath unit of approximately 600 square feet.
Conveniently located on El Camino Real in Burlingame, the property is described as within walking distance to Broadway shops and the Cal-Train station, with easy access to El Camino Real and major nearby routes including 101 and 280.
Key Highlights
- 1952‑built multifamily with spacious 1BD/1BA units and desirable floorplans
- Low operating expense ratio of 30% with individual water heaters (1 per unit)
- Recent capital improvements listed: plumbing and electrical, dual‑pane windows, new roofs, and new water heaters
Local Financial Insights For Apartment 5plus
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 | $254.9k | $52.20 |
| − Vacancy | −$13.3k | −$2.71 |
| EGI | $241.6k | $49.49 |
| − OpEx | −$108.7k | −$22.27 |
| NOI | $132.9k | $27.22 |
4,883 SF · lease $52.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.90M
$1.66M – $2.22M
NOI $132,901 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.88M
$3.39M – $4.53M
NOI $271,504 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Noah
Corporate Office
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Spacious 1-bedroom units with individual water heaters and recent capital improvements, plus potential for ADU conversion of carports.
Where is this apartment building located?
The property is located at 1140 El Camino Real Burlingame, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 1952‑built multifamily with spacious 1BD/1BA units and desirable floorplans; Low operating expense ratio of 30% with individual water heaters (1 per unit); Recent capital improvements listed: plumbing and electrical, dual‑pane windows, new roofs, and new water heaters
