121 Lorton Ave | Image 1
New
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121 Lorton Ave | Image 7

$4,950,000

For Sale

7 days ago

121 Lorton Ave, Burlingame, CA

House

MLS® ML82041936

0 Bed

0 Bath

--

1 Parking

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes $56,224
Days Active 6
Lot Size 
Approx. Age 1962
MLS® Number ML82041936

Property Address: 121 Lorton Ave, Burlingame, CA, 94010-4358

Average square foot calculated using Size range provided by listing agent.

Description

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) - No Public Benefits Necessary. Multi-Parcel Assemblage Oppty for Large-Scale Development. 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: 3.49%/GRM: 17. Pro-Forma (Market) CAP Rate: 6.05%/12 GRM. Actual Rentable Interior SF: 7, 296 SF (Based on In-Unit Measurement). Cost Per Actual RentableSF: $679/SF. PLEASE DO NOT DISTURB TENANTS.
MLS® NumberML82041936
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1962
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 7, 2026List Date
$4,950,000List Price
  • Commute

Commute

Starting Address
Destination Address
121 Lorton Ave, Burlingame, CA

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