SOLD 04/07/2023
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Commercial sold for $12,000,000 in 3 days
1056 Continentals Way Belmont, CA, 94002
Off the market Other
Generational, Trophy Asset. Pride of Ownership w/ 24 Oversized Apartment Homes: (15) 2 BR/2 BA Units: 1,056 SF (9 Units) / 1,137 SF (6 Units)+(9) 1 BR/1 BA Units: 742 SF. All Units Offer Unobstructed/Panoramic Views of Belmont Hills. Convenient, Easy Access from HWYS 92/280/101. Quiet-Setting w/ Views and Excellent Belmont Schools. 24 Private Balconies, Individual Forced Air Furnaces, Enclosed Carports, Outdoor Parking, 1 Elevator, 3 Laundry Rooms, and More. Owner Invested $540,000+ in Capital Improvements (Dual-Pane Milgard Windows, Retaining Wall, Landscape Design, etc). Bonus 25th Unit: 557 SF Rec. Room Can Be 1 Additional Unit or On-Site Gym. Current CAP Rate: 3.27% / GRM: 18. Pro-Forma CAP Rate: 4.21% / GRM: 15. $480/SF. Dishwashers in All Units. Add In-Unit Washers/Dryers, LVT Flooring to Grow Rents Beyond Pro-Forma CAP/GRM. PLEASE DO NOT DISTURB TENANTS, THANK YOU!
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Property details
27,735 sqft interior area
View
Greenbelt, Hills, Valley
Land area
54,014 sqft (1.24 acres)
Address
1056 Continentals Way, Belmont, CA, 94002
City of California
Belmont
County
San Mateo
Year Built
1969
District
Belmont Woods Etc
Nearby major retailers
Costco
CVS Pharmacy
Pet Food Express
See's Candies
Supercuts
Verizon Wireless
Petco
Trader Joe's
GNC
Zumiez
GameStop
Apple Store
Ross
7-Eleven
Dollar Tree
AT&T
MetroPCS
Kohl's
T-Mobile
Public Storage
Walgreens
The Home Depot
Ace Hardware
Marshalls
Safeway
NAPA Auto Parts
Macy's
Nordstrom
Jiffy Lube
Kmart
Lexus
AutoZone
Whole Foods Market
Rite Aid
TJ Maxx
Wholesale: 1
Chemist: 4
Pet: 4
Confectionery: 2
Hairdresser: 3
Mobile phone: 10
Supermarket: 10
Nutrition supplements: 2
Clothes: 1
Video games: 3
Electronics: 1
Department store: 8
Convenience: 6
Variety store: 3
Storage rental: 17
Do it yourself: 3
Car repair: 3
Car: 1
Car parts: 1
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Interior Features
—
Garage & Parking
Covered
Appliances
Dishwasher, Refrigerator
Listed by
Don Sung, Colliers Parrish International
Name
Don Sung
License number
01935797
Brokerage company
Colliers Parrish International
MLS #
ML81914150
Buyer agent
Name
Gregory Terry
Brokerage company
Compass
Payment calculator
Calculate your monthly payments
Mortgage
$36,843
Taxes
$0
HOA dues
$0
Mortgage
$2,400,000 / 20%
2.28%
30 years
Your amount
$36,843 / month
Lot details
TMK #045373090
Parcel nr.
045373090
94002 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 94002
46%
Families with children
National average: 39%
32%
Non family households
203,231
Population
$197,018
Average Income
Age & gender
Median age 40 years
More info
Commute types
81% commute by car
More info
Education level
33% have bachelor education
More info
Number of employees
5% work in management
More info
Vehicles available
44% have 2 vehicle
More info
Vehicles by gender
44% have 2 vehicle
More info
Housing market insights for
$2.02m
Neighborhood average
sales price*
sales price*
$1.98m
Neighborhood median
sales price*
sales price*
331
Number
of sales*
of sales*
Housing type
57% are single detacheds
More info
Rooms
33% of the houses have 4 or 5 rooms
More info
Bedrooms
58% have 2 or 3 bedrooms
More info
Owners vs Renters
63% are owners
More info
7 / 20
Below Average
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold Apr 7, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Apr 7, 2023 | Sold | $12,000,000 | 0 | Public Record |
| Apr 7, 2023 | Price Decrease | $12,000,000 -7.34% | 0 | MLS #ML81914150 |
| Apr 5, 2023 | Under contract | $12,950,000 | 0 | MLS #ML81914150 |
| Apr 5, 2023 | New Listing | $12,950,000 +0.39% | 0 | MLS #ML81914150 |
| Nov 26, 2022 | Unavailable | $12,900,000 | 0 | MLS #ML81893658 |
| Oct 7, 2022 | Price Decrease | $12,900,000 -3.15% | 0 | MLS #ML81893658 |
| May 27, 2022 | New Listing | $13,320,000 | 0 | MLS #ML81893658 |
Taxes of 1056 Continentals Way, Belmont, CA, 94002
R400 zoning / MLS #ML81914150
Zoning
R400
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Frequently Asked Questions about 1056 Continentals Way
What is 1056 Continentals Way?
1056 Continentals Way is a Commercial/Industrial propertywith 27,735 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
1056 Continentals Way, Belmont, CA, 94002.
What comparable properties are nearby?
Comparable nearby commercial properties include 710 Laurel Ave, 2 Park Rd, 1810 El Camino Real, 850 Roble Ave, 2351 Cabrillo Hwy, 660 Donohoe St.
Based on information from the bridgeMLS as of 05-02-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: May 05, 2023
Verhouse Last checked 2 minutes ago
The closest grocery stores are Safeway, 0.43 miles away and Lunardi's, 0.53 miles away.
The 94002 zip area has a population of 203,231, and 46% of the families have children. The median age is 40.39 years and 81% commute by car. The most popular housing type is "single detached" and 63% is owner.
