Burlingame, CA 94010
$16,498,000
Bed
0
Bath
0
Living Space
23,075 SqFt
Year Built
1957
Lot Size
0.89 Acres
Days
58
1775 Marco Polo Way presents a compelling acquisition opportunity for nonprofit operators and mission-driven investors seeking a stabilized, income-secure affordable housing asset in one of the Peninsulas most supply-constrained rental markets. The property is 75% occupied with approximately 87% occupied units leased to Housing Choice Voucher holders, with rents paid directly by the Housing Authority of the County of San Mateo (HACSM) and other subsidized housing programs. Current income is not projected it is contracted and government-backed, reflected in the actual rent roll. The remaining 10 units are vacant and unencumbered, available for immediate lease up by the acquiring entity at current 2026 HUD Small Area Fair Market Rents for zip code 94010 (Studio: $2,520 | 1BR: $3,020 | 2BR: $3,660). The primary value driver for a qualifying nonprofit buyer is the California property tax welfare exemption under Revenue and Taxation Code Section 214. At $189,507 annually, a 75% exemption reduces this expense line to $47,377 a conservative assumption, as many qualifying nonprofit operators achieve full exemption upon conversion. Combined with stabilized voucher income, the pro forma generates NOI of $1,122,996 and a capitalization rate of 6.81% at the asking price of $16,498,000.
Listing provided courtesy ofSam Runco License 01977683 Marcus & Millichap
Data provided by MLSListings Inc.
- Burlingame High School (High) - GreatSchools rating 10/10 - Burlingame Intermediate School (Middle) - GreatSchools rating 10/10 - Franklin Elementary School (Elementary) - GreatSchools rating 10/10 School District: Burlingame Elementary School District
Within a 1-2 mile radius of Marco Polo, Burlingame, CA, 94010, several parks are available. Washington Park, located at 850 Burlingame Ave, offers playgrounds, tennis courts, a dog park, and picnic areas. Coyote Point Recreation Area, situated on the border of Burlingame and San Mateo, features waterfront trails, a marina, and open green lawns. Mills Canyon Park provides a natural escape with a loop trail through woodland and grassland.
The Marco Polo area is part of the broader Burlingame community, known for its tree-lined streets and a balance of energetic Bay Area ethos with picturesque town charm. Burlingame offers a thriving community with cultural, athletic, and outdoor activities, and residents often walk to the downtown areas of Burlingame Avenue and Broadway for shopping and dining. The community emphasizes philanthropy, with successful fundraisers often held in the area's mansions.
Marco Polo, Burlingame, CA, 94010 has a Walk Score of 92/100, indicating a "Walker's Paradise" where daily errands do not require a car. Transit options include bus lines such as the 46 Burlingame School - Carolan and the 292 San Francisco - SFO - Hillsdale Mall, both within 0.1 miles. The Caltrain is also accessible, with nearby stops supporting commutes to San Francisco and the Peninsula. Transit Score is not explicitly available.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
- Burlingame High School (High) - GreatSchools rating 10/10 - Burlingame Intermediate School (Middle) - GreatSchools rating 10/10 - Franklin Elementary School (Elementary) - GreatSchools rating 10/10 School District: Burlingame Elementary School District
Within a 1-2 mile radius of Marco Polo, Burlingame, CA, 94010, several parks are available. Washington Park, located at 850 Burlingame Ave, offers playgrounds, tennis courts, a dog park, and picnic areas. Coyote Point Recreation Area, situated on the border of Burlingame and San Mateo, features waterfront trails, a marina, and open green lawns. Mills Canyon Park provides a natural escape with a loop trail through woodland and grassland.
The Marco Polo area is part of the broader Burlingame community, known for its tree-lined streets and a balance of energetic Bay Area ethos with picturesque town charm. Burlingame offers a thriving community with cultural, athletic, and outdoor activities, and residents often walk to the downtown areas of Burlingame Avenue and Broadway for shopping and dining. The community emphasizes philanthropy, with successful fundraisers often held in the area's mansions.
Marco Polo, Burlingame, CA, 94010 has a Walk Score of 92/100, indicating a "Walker's Paradise" where daily errands do not require a car. Transit options include bus lines such as the 46 Burlingame School - Carolan and the 292 San Francisco - SFO - Hillsdale Mall, both within 0.1 miles. The Caltrain is also accessible, with nearby stops supporting commutes to San Francisco and the Peninsula. Transit Score is not explicitly available.
This neighborhood information is AI-generated based on the property address and publicly available data. Please verify important information independently. Do not rely solely on this information for property decisions. RoostHaven makes no warranties and assumes no liability for the accuracy or completeness of AI-generated information. School boundaries, ratings, and local amenities may change over time.
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