Burlingame Multifamily Investment
121 Lorton Avenue, Burlingame, CA 94010
Prime downtown location with high density residential zoning.
Type:Commercial
Property size:
7,296 SFPrice / SF:
$678/SF- Added:
- Apr 9, 2026
- Days on Market:
- 55
- Last Refresh:
- Apr 9 at 8:09 pm
Property Features for 121 Lorton Avenue
General Information
- Standard status
- Active
- Size
- 7,296 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1962
Listing agent DON SUNG
Listing office COLLIERS PARRISH INTERNATIONAL, INC. (408) 282-3800
Listing date Apr 9, 2026
Source Corcoran
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.
HighLights
- Irreplaceable downtown Burlingame location, Walkscore of 97, close to Howard Ave, Burlingame Ave, and Caltrain.
- High‑density R‑4‑I zoning allows for potential development of up to 13 units (80 units/acre) and a building height of up to 46 ft (5 stories).
- Potential to convert 9 carports into 3 ADUs and add significant rental income.
- Opportunity to achieve $6+/SF rents with apartment/condo‑quality finishes.
- Excellent unit mix: Six (6) 2 BR/2 BA and Three (3) 1 BR/1 BA units.
- Low operating expense ratio (29%) and potential to implement RUBS programs or monetize parking.
Overview
This multifamily property is located in downtown Burlingame, offering convenient access to Howard Avenue, Burlingame Avenue, and Caltrain. The building features a mix of six 2-bedroom/2-bathroom units (ranging from 911 to 945 square feet) and three 1-bedroom/1-bathroom units (ranging from 540 to 600 square feet). The property has not been on the market for over 50 years. The building includes elevator access to all floors, although the elevator is currently out of order but can be restored. There is potential to convert the existing 9 carports into 3 Accessory Dwelling Units (ADUs) of approximately 648 square feet each, with the possibility of creating either 1-bedroom or 2-bedroom units. The R-4-I zoning allows for high-density residential development with an incentive overlay, permitting a maximum density of 80 units per acre. The zoning also allows for a height limit of up to 46 feet (5 stories). The property has a low operating expense ratio of 29%, and tenants are responsible for their in-unit PG&E expenses. There is potential for investors to implement full RUBS programs or monetize parking. The actual rentable interior size is 7,296 square feet.
Location Intelligence
Current Use by Public Records
Naz Limo LLC
Limousine Service
Location Insight
- Map
- Local Demand
- City
- Burlingame
- County
- San Mateo
- State
- California
- Longitude
- -122.3441519
- Latitude
- 37.576984
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Prime downtown location with high density residential zoning.
Where is this apartment building located?
The property is located at 121 Lorton Avenue Burlingame, CA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Irreplaceable downtown Burlingame location, Walkscore of 97, close to Howard Ave, Burlingame Ave, and Caltrain.; High‑density R‑4‑I zoning allows for potential development of up to 13 units (80 units/acre) and a building height of up to 46 ft (5 stories).; Potential to convert 9 carports into 3 ADUs and add significant rental income.
