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$ 4,750,000
Est. payment /mo
Active
121 Lorton Avenue Burlingame, CA 94010
7,296 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,296 sqft
Price per Sqft $651
MLS Listing ID ML82041936
HOA Y/N No
Year Built 1962
Lot Size 7,500 Sqft
Property Sub-Type Other
Property Description
$200k Reduction! Generational Oppty to Acquire an Irreplaceable Downtown Burlingame Location. Walkscore: 97. Howard Ave (1 Blk), Burlingame Ave (2 Blks), Caltrain Burlingame (2 Blks). VERY Large, SPACIOUS Units: 2 BR/2 BA (911 SF to 945 SF), 1 BR/1 BA (540 SF to 600 SF). First Time on Market in 50+ Years. Excellent Unit Mix: Six (6) 2 BR/2 BA, Three (3) 1 BR/1 BA Units. Potential to Achieve $6+/SF Rents w/ Apartment Home/Condo-Quality Finishes onUnit Turns. Top To Bottom Elevator Access (Out of Order But Can Be Restored). Potential to Convert 9 Carports to 3 ADU's (1 BR or 2 BR Units @ +/- 648 SF Each). 3 Additional ADU's Equate to $118,000 ($9,900/Month). R-4-I Zoning: High Density Residential w/ Incentive Overlay (Less Than 1/2 Mile From CalTrain), Offers Max. Density of 80 Units/Acre (Build 13 Units). R-4-I Tier 1 Height Limit: Up to 46 Ft. (5 Stories). Assemblage Oppty for Larger Project. Low Operating Expense Ratio (29%). Tenants Pay In-Unit PG & E. Potential for Investors to Implement Full RUBS Programs or Monetize Parking. In-Place CAP Rate: 3.68%/GRM: 16.6. Pro-Forma (Market) CAP Rate: 6.35%/11.5 GRM. Actual Rentable Interior SF: 7,296 SF (Based on In-Unit Measurement). Cost Per Actual RentableSF: $651/SF. PLEASE DO NOT DISTURB TENANTS.
Location
State CA
County San Mateo
Zoning R-4-
Interior
Heating Forced Air
Cooling None
Flooring Hardwood, Laminate
Fireplace No
Appliance Dishwasher, Refrigerator
Exterior
View Y/N true
View City Lights
Handicap Access Accessible Elevator Installed
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 029224110
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Don Sung • Colliers Parrish International, Inc.
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