$16,498,000
( $714.97Per Sq Foot )
 $88,565 est/mo Sourced by Back At You

1775 Marco Polo Way,Burlingame, CA 94010

Burlingame, CA 94010

Share:

PreviousNext

Description

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.

Details

MLS #ML82056372
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1957
Days On Site28
Listing Provided ByMarcus & Millichap | Sam Runco

Features

SQ Feet23,075
Car PortYes
Building(s)2
ZoningR-3
Acreage0.89

Interior

CoolingNone
HeatingWall Furnace
Heating Yes / NoYes
Cooling Yes / NoYes

Exterior

RoofTar Gravel

Utilities

UtilitiesOther

Taxes

Property189507

Area Information

StateCA
CountySan Mateo
CityBurlingame
Zip Code94010
Area699 Not Defined
Listing VS Median (in 94010)
Price:
$16,498,000
low | high
Med:
$2,647,500
100% of Average
sqft:
23,075
low | high
Med:
4,403
100% of Average
$ / sqft:
$715
low | high
Med:
$600
66.095567036078% of Average
On site:
28
low | high
Med:
115
24.347826086957% of Average
Sourced by Back At You

Market Activity 94010

Request a showing

Request a showing

Contact

Additional Information

Showing Information

Submit Form

Required Field
By submitting, you agree to receive promotional texts and/or calls from Coldwell Banker Home Source at the number provided. Message/data rates may apply. Consent is not a condition of purchase, and you can opt out anytime by replying STOP.
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

Contact

Learn More About This Property

David Hong

David Hong

Coldwell Banker Commercial

02207128 (760) 617-8885david.hong@cbcinland.com
StateCA
CountySan Mateo
CityBurlingame
Zip Code94010
Area699 Not Defined
Listing VS Median (in 94010)
Price:
$16,498,000
low | high
Med:
$2,647,500
100% of Average
sqft:
23,075
low | high
Med:
4,403
100% of Average
$ / sqft:
$715
low | high
Med:
$600
66.095567036078% of Average
On site:
28
low | high
Med:
115
24.347826086957% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $12.373M - $20.622M
sqft: 17,000 - 28,500
Nearby Listings Property ImageNearby Listings Details
1727 Marco Polo Way Property Photo 1
$4,485,000
1727 Marco Polo Way
Burlingame, CA 94010
Listing Updated: August 27, 2026 at 2:19:51 PM PDT