1056 Continentals Way

Belmont, CA 94002

$12,000,000
Last Sold Price
Beds
27,735 Sq. Ft.
$433 / Sq. Ft.
27,735
Sq. Ft.
$433
per Sq. Ft.

Description

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...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!
  1. Listed by Don Sung • DRE #01935797 • Brokerage DRE #00490878 • Colliers Parrish International • 650-380-5188

Property Details for 1056 Continentals Way

MLS City Name
BELMONT
Building Type
Other
Complex Name
Hutton Terrace Apartments
Garage Spaces
24
Parking Spaces
0
View
Forest / Woods, Greenbelt, Hills, Panoramic, Valley
Cross Street
Lyall Way

Location

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797

Sold By Compass, Greg Terry, DRE #00957651

Add your commute
LISTING UPDATED: 04/07/2023 06:35 PM

Property Details for 1056 Continentals Way

StatusSold
MLS #ML81914150
Days on Compass1
Taxes$176,550 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1969
Lot Size1.24 AC / 54,014 SF
CountySan Mateo County

Location

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797

Sold By Compass, Greg Terry, DRE #00957651

Add your commute

Building Information for 1056 Continentals Way

Stories-Residences-Year Built1969Building Size-Lot Size1.24 AC / 54,014 SF

Payment Calculator

$80,201 per month

30 year fixed, 7.25% Interest

Principal and Interest

$65,489

Property Taxes

$14,713

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1056 Continentals Way

Features
Room Information
  • Kitchen: Countertop - Granite, Countertop - Stone, Dishwasher, Oven Range - Electric, Refrigerator
Features
  • Fireplace: No
  • Living SqFt: 27735
  • Pool: No
  • Security Features: None
  • Special Features: Elevator / Lift, Parking, Wheelchair Access
Utilities
  • Cooling: None
  • Heating: Central Forced Air - Gas
  • Meters: Master Water, Separate Electric, Separate Gas, Separate Other
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 24
Garage
  • Garage and Parking: Carport, Common Parking Area, Covered Parking
Property Details
Homeowners Association
  • HOA Amenities: Additional Storage, Elevator
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 24
  • Area Text: Belmont Woods Etc.
  • Restrictions: None
  • Roof: Foam
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 1056
  • Street Name: Continentals
  • Street Suffix: Way
  • Area ID: 360
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 27735
  • Structure SqFt Source: Assessor
  • Age: 53
Development Information
  • Ownership Type: Trust
  • Zoning Detail: R40000
Location Information
  • City Limits: Yes
  • Parcel Number: 045-373-090
  • County Name: San Mateo
  • City Name: BELMONT
  • City Postal ID: 4
  • Postal Code: 94002
  • Elementary School District: 921
  • High School District Text: Sequoia Union High
Lot Information
  • Foundation: Wood Frame
  • Lot Acres: 1.24
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
General Information
  • Annual Tax Amount: $176,550
  • Capitalization Rate: 3.09
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Income Includes: Laundry
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $17,424
  • Expense Landscape: $3,000
  • Expense Maintenance: $19,200
  • Expense Management: $37,941
  • Expense Trash: $16,935
  • Expenses Other: $3,870
  • Expenses Utility: $23,127
  • Expenses Total: $298,047
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Capital Improvements, Maintenance - Elevator, Maintenance - Laundry, Maintenance - Repair, Services - Gardener, Services - Sewer, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 18.00
  • Income Annual Gross: $697,952
  • Income Annual Rental: $713,520
  • Income Gross Scheduled: $719,538
  • Income Other: $6,018
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,850
Unit 2 Information
  • Unit 2 Approx Square Footage: 1056
  • Unit 2 Full Bathrooms: 2
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,450
Unit 3 Information
  • Unit 3 Approx Square Footage: 1137
  • Unit 3 Full Bathrooms: 2
  • Unit 3 Number of Bedrooms: 2
  • Unit 3 Rent: $2,520
Unit Type 1
  • Unit Type1 Approx SqFt: 742
  • Unit Type1 Units Total: 9
Unit Type 2
  • Unit Type2 Units Total: 9
Unit Type 3
  • Unit Type3 Units Total: 6

Property History for 1056 Continentals Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1056 Continentals Way

Taxable ValueLand$1,764,979Additions$4,113,190Total$5,878,169
Tax Record2023$96,532 ($8,044 / month)
Home Facts
Baths4Total Finished SqFt27,735 SqFtAbove Grade Finished SqFt27,735 SqFtStories3Lot Size54,014 SqFtStyleMulti-Family Res (5+ Units)Year Built1969ZoningR40000CountySAN MATEOAPN045-373-090

Schools near 1056 Continentals Way

This home is within Belmont-Redwood Shores Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Cipriani Elementary School
PublicK to 5

Ralston Intermediate School
Public6 to 8

Carlmont High School
Public9 to 12

Fox Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colliers Parrish International, Don Sung, DRE #01935797

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.