Listed by Compass Commercial, compass
$1,680,000
1120 Elmer Street
Details
APN 040-332-080
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,516
Net Rentable (SqFt) 2,516
Units 4
Beds 1
Cap Rate 3.68%
NOI $61,863
Tenancy Multi
Pro-Forma Cap Rate 4.79%
Pro-Forma NOI $80,417
Price per SqFt $668
Year Built 1953
Buildings 1
Lot Size (SqFt) 4,748
Parking Spaces 4 spaces
Parking Per SqFt 1.59
Investment Type Value Add
Sale Condition N/A
Multifamily | 4 Units | $420,000/unit
Marketing description
Incredible opportunity to acquire a rarely available Fourplex in downtown Belmont that offers significant add-value for a new owner, with one unit already vacant and another coming vacant soon - renovate and achieve top market rents immediately! Ideal for owner-occupiers, value-add multifamily investors, small syndicators, 1031 exchange buyers, life-science workforce housing, and family offices.
Investment highlights
- Rare Belmont Fourplex off Ralston Avenue in Downtown Belmont
- (4) One-Bedroom / One-Bath Units
- Significant Add-Value Opportunity
- Unit # 1 Currently Vacant - Freshly Painted Walls, New Flooring, and Light Fixtures ($7k improvements)
- Another Unit Coming Vacant Soon
- Renovate Units and Achieve Top Market Rents
- New Electrical System Upgrade
- New Sewer Lateral Piping Installed - $22K Improvement
- Individual Water Heaters
- Convert Carport Parking into ADU!
- Surrounded by Major Life Science & Biotech Development Projects
- Projects Estimated to Deliver 13,000 Employees – High Paying Research, Tech, & Life Science Jobs
- 5-minute Walk to Belmont Caltrain Station and Belmont Village Shopping Center
- Close Proximity to Highly Ranked Schools Including Carlmont High School (10/10 Rating)
Listing Contacts
Listed by Compass Commercial, compass
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$61,863.00
$5,155.25/mo
Valuation Metrics
0
DSCR
3.68%
Cap Rate
3.68%
ROI
Map
Zoning
VHDR SpecialVillage High Density Residential
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View all 65 uses
View all 65 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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