Fourplex with Four-Car
For Sale
$2,700,000
200 Anita Road, Burlingame, CA 94010
Recently painted property includes shared outdoor space and additional off-street parking.
Property Size3,009 SF
Days on Market189
Property Features for 200 Anita Road
General Information
Standard status
Active
Size
3,009 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
shared outdoor patio
Floor Furnace
Wall Furnace
Washer/Dryer
Public Utilities, Water - Public, Rolled/Hot Mop
Building Details
Building Size
3,009 SF
Year Built
1946
Listing Agency:
Christie's International Real Estate Sereno
(650) 575-3822
Listed By:
Laura Bertolacci · License #00868180
(650) 575-3822
Source:
Kw
Added: Feb 24
Changed: Aug 30
Last Checked: Aug 30 at 9:05PM
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 Christie's International Real Estate Sereno
Investment Insights
Based on property information with market context.
Built in 1946, this fourplex offers a two-bedroom, one-bath unit mix alongside two one-bedroom, one-bath residences. The property has been recently painted and includes shared outdoor patio access, a four-car garage, and additional off-street parking. Interior features include floor and wall furnaces along with washer and dryer equipment. Public water and other public utilities serve the property.
Three units are vacant, providing flexibility for an owner’s leasing approach. The property is within walking distance of downtown Burlingame, Caltrain, Washington Park, and Burlingame schools, placing everyday amenities, transit, recreation, and educational facilities nearby.
Three units are vacant, providing flexibility for an owner’s leasing approach. The property is within walking distance of downtown Burlingame, Caltrain, Washington Park, and Burlingame schools, placing everyday amenities, transit, recreation, and educational facilities nearby.
Key Highlights
- Fourplex with two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units
- Three vacant units
- Four‑car garage plus additional off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$87,441
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,748,820
$1.7M
Cap Rate 7%
$1,249,157
$1.2M
Cap Rate 9%
$971,567
$971.6K
Market Conditions
NOI Build-Up for 3,009 SF
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.
Gross rent
$133.6K $44.40/SF
− Vacancy
−$8.7K −$2.89/SF
EGI
$124.9K $41.51/SF
− OpEx
−$37.5K −$12.45/SF
NOI
$87.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,748,820
Cap Rate 7%
$1,249,157
Cap Rate 9%
$971,567
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,441 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,896 @ 7.0% cap · market cap 3.03%
Theoretical Best
Warehouse
$2.39M
$2.09M – $2.79M
NOI $167,306 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,930
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Recently painted property includes shared outdoor space and additional off-street parking.
Where is this quadplex located?
The property is located at 200 Anita Road Burlingame, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Fourplex with two 1‑bedroom/1‑bath units and two 2‑bedroom/1‑bath units; Three vacant units; Four‑car garage plus additional off‑street parking
