Description

Pleased to present the opportunity to acquire 1131-1137 California Drive, a two-story mixed-use building located in the heart of Burlingame, California. This approximately 8,034 square foot property, built in 1962 on a 5,750 square foot lot, features a blend of commercial and residential spaces, offering stable in-place income with upside potential. The ground floor is fully leased to two established retail tenants: a nail salon (Burlingame Nail Care) and an auto body shop, providing reliable cash flow. The second floor consists of two recently renovated 2-bedroom, 1-bathroom residential units, both currently vacant and ready for immediate occupancy or leasing at market rates. The property is zoned CMU (California Drive Mixed Use). The zoning is designed to foster vibrant, pedestrian friendly development along California Drive. The zoning encourages a blend of commercial, retail, office, and residential uses to create a dynamic urban environment. The zoning supports diverse businesses, housing options, and community spaces while adhering to development standards that ensure capability with the surrounding area. The seller recently did a feasibility study which shows redevelopment plans for a three story, 10-room hotel.