CA
San Mateo
BELMONT
94002
2186 Carlmont Drive
2186 Carlmont Drive, BELMONT, CA 94002
Share Listing
Listing Type
Multi Family
Listing Status
active
50
$4,300,000

Home Details for 2186 Carlmont Drive

Price
$4,300,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
9688
Year built
1961
Lot size acres
0.2276
County
San Mateo
Garage
Days on site
69
MLS Listing#
ML82015110
Listed By: Compass - 415-874-5000
Presented by: Nate Gustavson
Property Description

2186 Carlmont Drive or The Palma Apartments are an impeccably-maintained and managed 10-unit multifamily property located in the exclusive Belmont Hills neighborhood of Belmont, California. Listed at $4,300,000, this multifamily investment property offers a unit mix of eight (8) 1-bedroom/1-bath units (675 sqft) and two (2) 2-bedroom/1-bath units (901 sqft) totaling 9,688 square feet of gross building area on a 10,000 square foot lot. The property features large patios/balconies, 11 tenant parking spaces, 11 individual storage closets, and circuit breakers throughout. Key upgrades include a 35-year laminated fiberglass shingle roof (2013), a 100-gallon water heater (replaced in 2022), and SB 721 inspections have been completed. All units are individually metered for gas and electricity, with wall heaters in the 1-bedroom units and forced air in 2-bedroom units. Currently generating nearly $285,000 in annual income with an in-place 15.15 GRM, this asset presents strong current cash flow with rental upside. Ideally located near Carlmont Village Shopping Center and top-rated schools, this is an excellent opportunity for investors seeking solid in-place income and long-term value in one of the Peninsulas strongest rental markets.

Property Features
  • Heating Information
    • Central
    • Forced Air
    • Natural Gas
    • Wall Furnace
  • Parking
    • Assigned
    • Covered
  • Cooling Information
    • Ceiling Fan(s)
  • Water Features
    • Public
School Information
School Information for 2186 Carlmont Drive, BELMONT, CA 94002
Elementary School
Cipriani Elementary
Middle School
Ralston Intermediate
High School
Carlmont High
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Based on information from the MLSListings MLS. 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. Copyright 2025 MLSListings Inc. All rights reserved.

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Last Updated: 2025-08-27 13:30:40
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EXIT REALTY CONSULTANTS
16175 Monterey #A, Morgan Hill, CA 95037
CA DRE# 01424183. Kris Klair Broker.
Margaret Vierra
Associate Broker
Office
209 668 2525
Agent
408 202 3243
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