Five-Unit Apartment
New
For Sale
$1,698,000
820 Winchester Dr, Burlingame, CA 94010
Occupied multifamily property with a varied unit mix, on-site parking, and access to downtown amenities and major commuter routes.
Property Size4,207 SF
Price / SF$403.61
Days on Market3
Property Features for 820 Winchester Dr
General Information
Standard status
Active
Size
4,207 SF
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
5
Additional Details
Highway Access
Yes
Building Details
Year Built
1950
Listing Agency:
Garrison Properties
(650) 302-1712
Listed By:
Robert Garrison, Robert Garrison
Source:
Myfabuloushome
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 9:34AM
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 Garrison Properties
Investment Insights
Based on property information with market context.
Built in 1950, this 4,207-square-foot apartment property at 820 Winchester Drive contains five residences: four one-bedroom, one-bath units and one two-bedroom, one-bath unit. All five units are currently occupied, and the property includes five parking spaces. The configuration supports both investment ownership and an owner-user approach, as stated in the property information.
The Burlingame location places residents near parks, schools, and the downtown corridor's dining, shopping, and neighborhood amenities. Highway 101 and other major commuter routes provide connections throughout the Bay Area.
The Burlingame location places residents near parks, schools, and the downtown corridor's dining, shopping, and neighborhood amenities. Highway 101 and other major commuter routes provide connections throughout the Bay Area.
Key Highlights
- Five‑unit apartment property with four one‑bedroom, one‑bath units and one two‑bedroom, one‑bath unit
- 4,207 square feet on a 5,000‑square‑foot lot
- All five units currently occupied
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
$114,502
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
6.74%
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%
$2,290,040
$2.3M
Cap Rate 7%
$1,635,743
$1.6M
Cap Rate 9%
$1,272,244
$1.3M
Market Conditions
NOI Build-Up for 4,207 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
$219.6K $52.20/SF
− Vacancy
−$11.4K −$2.71/SF
EGI
$208.2K $49.49/SF
− OpEx
−$93.7K −$22.27/SF
NOI
$114.5K $27.22/SF
Area
San Mateo County, CA
Vacancy
5.20%
Lease Rate
$52.20 /SF/Yr
Expense Ratio
45.00%
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%
$2,290,040
Cap Rate 7%
$1,635,743
Cap Rate 9%
$1,272,244
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,502 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.34M
$2.92M – $3.90M
NOI $233,917 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,842
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?
Apartment building - Occupied multifamily property with a varied unit mix, on-site parking, and access to downtown amenities and major commuter routes.
Where is this apartment building located?
The property is located at 820 Winchester Dr Burlingame, CA.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Five‑unit apartment property with four one‑bedroom, one‑bath units and one two‑bedroom, one‑bath unit; 4,207 square feet on a 5,000‑square‑foot lot; All five units currently occupied
