115 Anita Rd, Burlingame, CA 94010

$191,000 price reduction!! Seven 1BD/1BA units exterior newly painted, 6 wall furnaces & water heater just recently replaced. Rent Below market rate, upside potential & rare vacancy. It is conveniently located blocks away from downtown Burlingame & train station. 2007 Feasibility study for condo conversion available. Price has been adjusted due to condition of the property. Please contact listing agent for showing appointment and please allow 48-72 hours. Financial Analysis Date:May 12, 2010 Property Summary: Price: $999,000 Down Payment: $400,000 Number of Units: 7 Cost/Unit: $143,000 Cost/Sq. Foot: $204 Approx. Sq. Ft.: 4,894 Current CAP: 5.5% Market CAP: 4.45% Current GRM: 10.88% Market GRM: 16.89% Approximate Age: 1940 Approximate Lot Size: 7,875 Assessed / Appraised Value Land: 29.33% Improvement: 70.66% Total: 100% Monthly Rent Schedule # of UnitsUnit TypeUnit Sq. Ft.Market RentMkt. Rent/ SqftAver. Current RentAver. Current/Sqft. 71/1699$1,200$1.57$1,025$1.46 Totals:4,894$8,400 $ 7,650$ 7,175 Laundry $ -$ - Parking $ -$ - Total Income:$8,400 $ 7,650$ 7,175 Annual Expenses Fixed Expenses: New Real Estate Property Tax $10,989 Special Assessments $ 457 Insurance $ 3,648 Total Fixed Expenses: $ 15,094 Operational Expenses: Reserves $ 1,400 PG&E $ 3,852 Garbage $ 3,340 Water $ 11,602 Repairs/maintenance $ 5,139 Fire Dept. $ 161 Environ. $ 155 Total Operational Expenses: $ 25,649 Total Expenses: $ 40,743 Annual Operating Data CurrentMarket Scheduled Rental Income: $ 91,800$ 100,800 Scheduled Gross Income: $ 91,800$ 100,800 Less Vacancy Rate:(5%) $ 4,590$ 5,040 Gross Operating Income: $ 87,210$ 95,760 Less Expenses: $ 40,743$ 40,743 Net Operating Income: $ 46,467$ 55,017 Realty World Advance Group Disclaimer: Data deemed reliable but not guaranteed. Potential buyers are urged to verify all information set forth herein.