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$ 6,280,000
Est. payment | /mo
17,576 SqFt
$ 6,280,000
Est. payment | /mo
17,576 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 17,576 sqft
Price per Sqft $357
MLS Listing ID ML82020759
HOA Y/N No
Year Built 1954
Lot Size 0.436 Acres
Acres 0.44
Property Sub-Type Other
Property Description
Magnify is pleased to present 1249-1265 Oak Grove Avenue in Burlingame, a rare value-add opportunity to acquire a 17-unit multifamily asset in one of the most desirable neighborhoods on the San Francisco Peninsula. Built in 1954, the property features two separate buildings totaling 17,576 square feet, situated on a large 19,007 square foot lot within the Downtown Specific Plan zone. The unit mix includes (15) 1BD/1BA, (1) 2BD/1BA, and (1) 2BD/1.5BA with nearly 40% upside in rents. Recent capital improvements include dual pane windows throughout, fresh exterior paint, and upgraded flooring in 11 units with hardwood or luxury vinyl plank. The property is located just a 1/2 mile walk from Downtown Burlingame, and adjacent to Hillsborough, Californias second most affluent city. It is near major employers such as Mills-Peninsula Medical Center, leading biotech firms, and San Francisco International Airport. The area offers a vibrant lifestyle with boutique shopping, dining, parks, and cultural attractions including Bayfront Park and the Burlingame Museum of Pez Memorabilia. With strong demographics, low vacancy rates, and excellent connectivity to both San Francisco and Silicon Valley, this asset is well-positioned for long-term income growth and future redevelopment potential.
Location
State CA
County San Mateo
Zoning R300
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Fireplace No
Laundry Coin Operated
Building
New Construction No
Others
Tax ID 029131400
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Listed by David Katz • Magnify Real Estate
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Debbi DiMaggio Betta
REALTOR | Partner | Lic# 01047447