Single-Story Duplex with Private
For Sale
Contact for pricing
451-453 Rollins Road, Burlingame, CA 94010
Two leased cottages each include a dedicated garage and fenced yard.
Property Size1,996 SF
Price / SF$799.10
Days on Market121
Property Features for 451-453 Rollins Road
General Information
Standard status
Active
Size
1,996 SF
Class
B
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
Burlingame R-2 (verify)
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$45,896
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$1,600,000
Amenities
private fenced yard
Building Details
Year Built
1944
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
MKD Group
Listed By:
Marco Barretto · License #CA 02078316
Source:
Crexi
Added: May 3
Changed: Aug 30
Last Checked: Aug 30 at 8:32AM
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 MKD Group
Investment Insights
Based on property information with market context.
This 1,996-square-foot duplex comprises two side-by-side, single-story cottages built in 1944. Each residence offers two bedrooms, one bathroom, a private fenced yard, and a dedicated garage. Both units are leased, providing an occupied two-unit residential configuration.
The property is located on Rollins Road in Burlingame’s Lyon Hoag neighborhood. The zoning is identified as Burlingame R-2, subject to verification. The layout, separate outdoor areas, and individual garages define the physical character of this duplex property.
The property is located on Rollins Road in Burlingame’s Lyon Hoag neighborhood. The zoning is identified as Burlingame R-2, subject to verification. The layout, separate outdoor areas, and individual garages define the physical character of this duplex property.
Key Highlights
- Two side‑by‑side 2‑bedroom / 1‑bath cottages
- 1,996 SF duplex built in 1944
- Private fenced yard for each unit
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
$58,003
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
3.64%
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%
$1,160,060
$1.2M
Cap Rate 7%
$828,614
$828.6K
Cap Rate 9%
$644,478
$644.5K
Market Conditions
NOI Build-Up for 1,996 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
$88.6K $44.40/SF
− Vacancy
−$5.8K −$2.89/SF
EGI
$82.9K $41.51/SF
− OpEx
−$24.9K −$12.45/SF
NOI
$58.0K $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%
$1,160,060
Cap Rate 7%
$828,614
Cap Rate 9%
$644,478
Alternative Uses
Best Use
Multifamily LT 5
$828.6K
$725.0K – $966.7K
NOI $58,003 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$776.1K
$679.1K – $905.4K
NOI $54,325 @ 7.0% cap · market cap 3.41%
Theoretical Best
Warehouse
$1.59M
$1.39M – $1.85M
NOI $110,981 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,004
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?
Duplex - Two leased cottages each include a dedicated garage and fenced yard.
Where is this duplex located?
The property is located at 451-453 Rollins Road Burlingame, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Two side‑by‑side 2‑bedroom / 1‑bath cottages; 1,996 SF duplex built in 1944; Private fenced yard for each unit
