NOT LISTED FOR SALE

1433 Floribunda Ave Burlingame, CA 94010

Downtown Burlingame Neighborhood

Estimated Value: $7,694,000

0.21 Acre
$36,378,251 Price per Acre
9,213 Sq Ft Lot

Last Sold October 21, 2021

Last sale price $3,150,000 $843 Per Sq Ft

Est. 144% increase in value since last sale

Current estimated payment $46,812/month

132 Days on Market

Highlights

  • 0.21 Acre Lot
  • McKinley Elementary School Rated A
  • Level Lot

About This Lot

As of October 2021

Rare permit-ready 8-unit residential condo project in Downtown Burlingame! The fully entitled four-story development opportunity located at 1433 Floribunda Avenue Burlingame, CA consists of (1) 2 bed 2 bath and (7) 2 bed 2.5 bath premium residential units which average 1,152 in sq. ft. in size, decks ranging from 100-220 sq. ft. and at-grade parking. This highly sought after location feeds to excellent schools, retail corridors of Downtown Burlingame and El Camino Real, and is convenient to best-in-class tech and health care employers of Silicon Valley. The townhome-style units are marketable to a large addressable audience given the premium and boutique building feeling and exceptional Walk Score of 92. Desirable townhome-style unit mix lending to large buyer pool. At-grade parking. Short walk to heavily-amenitized downtown Burlingame. All units feature private outdoor space. https://www.burlingame.org/business_detail_T54_R94.php for City of Burlingame staff reports, plans, etc.

Last Agent to Sell the Property

Steve Zirelli

Cornish & Carey Commercial License #01929245 Listed on: 06/03/2021

Co-Listed By

Joel Hopman

Newmark Cornish & Carey License #01934574

Last Buyer's Agent

Joel Hopman

Newmark Cornish & Carey License #01934574

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $76,074

Lot Details

  • 9,213 Sq Ft Lot
  • Level Lot

Property Details

Property Type

Land

Est. Annual Taxes

$76,074

Lot Details

0

Listing Details

  • Zoning: RM0000
  • Subclass: Other Commercial Land
  • Listing Class: Commercial Lots & Land
  • Present Use: Bare Land
  • Development Status: Approved Building Plan
  • Special Features: None
  • Property Sub Type: LotsLands

Utilities

  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.2115
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 9212.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 9212.00
  • Parcel Access: City Street

Multi Family

  • Utilities: Public Utilities

MLS Schools

  • High School District Text: San Mateo Union High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 3, 2021
Closed on
Oct 11, 2021
Sold by
Accelerate Holdings Llc
Bought by
1325 Balboa Llc
Seller's Agent
Steve Zirelli
Cornish & Carey Commercial
Buyer's Agent
Joel Hopman
Newmark Cornish & Carey
List Price
$5,800,000
Sold Price
$3,150,000
Premium/Discount to List
-$2,650,000
-45.69%
Current Estimated Value
$7,694,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$4,544,000
Avg. Annual Appreciation
24.67%
Original Mortgage
$7,790,630
Outstanding Balance
$7,104,328
Interest Rate
2.8%
Mortgage Type
Construction
Estimated Equity
$589,672

Purchase Details

Closed on
Oct 8, 2015
Sold by
Woods Family Investments Lp
Bought by
Accelerate Holdings Llc

Purchase Details

Closed on
Jun 29, 2015
Sold by
Iris2 Llc
Bought by
Woods Family Investments Lp

Purchase Details

Closed on
Jun 11, 2013
Sold by
1433 Floribunda Llc
Bought by
Iris2 Llc

Purchase Details

Closed on
Jan 9, 2012
Sold by
1433 Floribunda Llc
Bought by
1433 Floribunda Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$905,854
Interest Rate
3.96%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 1, 2005
Sold by
Heffran Maurissa
Bought by
Global Capital Management Corp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
5.66%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 24, 2005
Sold by
Global Capital Management Corp
Bought by
1433 Floribunda Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
5.66%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 8, 1998
Sold by
Ann Lundquist Janet and Ann Barbara R
Bought by
Global Capital Management Corp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$732,000
Interest Rate
6.78%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 4, 1998
Sold by
Lundquist Arney C
Bought by
Lundquist Janet Ann

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$732,000
Interest Rate
6.78%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 30, 1997
Sold by
Jean Smith Barbara
Bought by
Smith Barbara R

Purchase Details

Closed on
Feb 20, 1994
Sold by
Lundquist Janet Ann
Bought by
Lundquist Janet Ann and Smith Barbara Jean
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1325 Balboa Llc $3,150,000 North American Title
Accelerate Holdings Llc $4,950,000 First American Title Company
Woods Family Investments Lp $3,250,000 Old Republic Title Company
Iris2 Llc $2,500,000 First American Title Company
1433 Floribunda Llc -- First American Title Company
Global Capital Management Corp -- Alliance Title Company
1433 Floribunda Llc $1,700,000 Alliance Title Company
Global Capital Management Corp $975,000 First American Title Co
Lundquist Janet Ann -- First American Title Co
Smith Barbara R -- --
Lundquist Janet Ann -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1325 Balboa Llc $7,790,630
Previous Owner 1433 Floribunda Llc $905,854
Previous Owner 1433 Floribunda Llc $1,000,000
Previous Owner Global Capital Management Corp $732,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/21/2021 10/21/21 Sold $3,150,000 -21.3% $843 / Sq Ft
10/14/2021 10/14/21 Pending -- -- --
08/20/2021 08/20/21 Price Changed $4,000,000 -31.0% $1,071 / Sq Ft
06/03/2021 06/03/21 For Sale $5,800,000 -- $1,553 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $76,074 $12,742,805 $3,342,805 $9,400,000
2023 $76,074 $3,213,000 $3,213,000 $0
2022 $35,990 $3,150,000 $3,150,000 $0
2021 $62,652 $5,413,544 $5,333,710 $79,834
2020 $61,343 $5,358,036 $5,279,020 $79,016
2019 $59,965 $5,252,977 $5,175,510 $77,467
2018 $58,815 $5,149,979 $5,074,030 $75,949
2017 $58,384 $5,049,000 $4,974,540 $74,460
2016 $56,242 $4,950,000 $4,877,000 $73,000
2015 $29,725 $2,561,526 $1,536,916 $1,024,610
2014 -- $2,511,350 $1,506,810 $1,004,540
Source: Public Records

Agents Affiliated with this Home

  • Steve Zirelli

    Seller's Agent in 2021

    Steve Zirelli

    Cornish & Carey Commercial

    (650) 688-8508

    2 in this area

    37 Total Sales

    Steve Zirelli
    Section Image

  • J

    Seller Co-Listing Agent in 2021

    Joel Hopman

    Newmark Cornish & Carey

    (650) 688-8536

    1 in this area

    42 Total Sales

    Joel Hopman
    Section Image
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Map

Source: MLSListings

MLS Number: ML81847031

MLSListings

APN: 029-112-050

California San Mateo County Burlingame 94010 Downtown Burlingame

1433 Floribunda Ave, Burlingame, CA

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