630 Masonic Way Belmont, CA 94002-2775

Property Details for 630 Masonic Way

Year built

1964

Lot size

0.23 lot acres

Property size

10,048 SF

Property type

Apartment buildings

APN

040-312-170

APU

40312170

Description

This exceptional Class A, 10-unit apartment building, located at 630 Masonic Way in Belmont, California (94002), presents a compelling investment opportunity. Built in 1964 and extensively renovated between 2021 and 2023, the property boasts 7,100 square feet of net rentable space situated on a 0.23-acre lot. Each of the ten units features a one-bedroom, one-bathroom floorplan, with seven units offering private balconies or patios. Nine of the ten units have undergone complete renovations, including new stainless steel appliances, vinyl plank flooring, updated cabinets, granite countertops, and upgraded bathrooms. Three units also include in-unit washer/dryer hookups. Further enhancing the property's value are brand new double-paned windows and a completed seismic retrofit. The property currently enjoys a 90% occupancy rate, generating a Net Operating Income (NOI) of $235,240, with a pro-forma NOI of $255,854 and a pro-forma cap rate of 4.87%. Its prime location, less than two minutes from the Belmont Caltrain station and within easy reach of major freeways (Interstate 280, Highway 101, Highway 92, and Highway 82), provides unparalleled access to major tech employers such as Facebook, Oracle, Electronic Arts, Kaiser, Salesforce, Visa, and Stanford Medical. The property is also less than half a mile from Downtown Belmont, offering residents convenient access to upscale shopping, dining, and entertainment. The asking price is $5,250,000, representing $525,000 per unit. This offering is made "as is, where is."

Location Insight

City

Belmont

County

San Mateo

State

California

Longitude

-122.275

Latitude

37.5227

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments