1135 Rhinette Ave, Burlingame, CA 94010

$3,180,000
5,599
SqFt

Property Description

PRICE REDUCTION! Rare Opportunity to Purchase a Well-Maintained Building in Burlingame! 1 block off vibrant Broadway Avenue. This unique building includes a charming duplex built in 1909 and (4) 1 bedroom /1 bathroom apartments located at 1217 Laguna Avenue (all one parcel) that was built most likely built in the 1950's. The bottom floor of the duplex features a spacious 2 bedroom/1 bathroom unit with fireplace, large eat-in kitchen and private laundry room. The top floor offers a large 3 bedroom/1 bathroom with private balconies. The duplex has a new foundation and large basement. The (4) 1 bedroom/1 bathroom apartments have all been upgraded. Building has copper plumbing, newer electric, roof & exterior paint. Good in-place rents with upside potential. Outstanding financing available. Over 4% Cash on Cash Return. Also, ideal for owner occupier - convert the duplex into spacious 5 bedroom/3 bathroom SFR & rent out remaining 4 units. Homes in neighborhood sell for similar pricing.

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Courtesy of Newmark Cornish & Carey, Justin Bautista.

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