CA
San Mateo
BURLINGAME
94010
121 Lorton Avenue
121 Lorton Avenue, BURLINGAME, CA 94010
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Listing Type
Multi Family
Listing Status
Active
21
$4,950,000

Home Details for 121 Lorton Avenue

Price
$4,950,000
Type
Residential Income
Square feet
7296
Year built
1962
County
San Mateo
MLS Listing#
ML82041936
Listed By: Colliers Parrish International, Inc. - 408-282-3800
Listed By: Don Sung
Property 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.

Property Features
  • Heating Information
    • Central
    • Forced Air
    • Natural Gas
  • Parking
    • Carport
    • Assigned
  • Cooling Information
    • None
  • Water Features
    • Public
  • House Interior
    • Elevator
School Information
School Information for 121 Lorton Avenue, BURLINGAME, CA 94010
Elementary School
N/A
Middle School
N/A
High School
Burlingame 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 2026 MLSListings Inc. All rights reserved.

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Last Updated: 2026-04-30 15:52:37
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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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