NOT LISTED FOR SALE

Estimated Value: $2,248,000 - $3,490,000

0.17 Acre
$18,265,366 Price per Acre
7,200 Sq Ft Lot

Last Sold August 27, 2019

Last sale price $2,600,000 $1,204 Per Sq Ft

Est. 16% increase in value since last sale

Current estimated payment $18,512/month

66 Days on Market

Highlights

  • Fenced Front Yard
  • Level Lot
  • 4-minute walk to Alpine Park
  • McKinley Elementary School Rated A

About This Lot

As of August 2019

***Prime Downtown Burlingame Mixed Use Development Opportunity. Current existing four unit multi family building facing Edgehill Road and four commercial garages facing California Drive. Please conduct further due diligence with city of Burlingame to verify what can be built.

Last Agent to Sell the Property

Fred Rubio

Marcus & Millichap License #01984041 Listed on: 05/21/2019

Co-Listed By

Mitchell Zurich

Marcus & Millichap License #01870648

Last Buyer's Agent

Mitchell Zurich

Marcus & Millichap License #01870648

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $31,564

Lot Details

  • 7,200 Sq Ft Lot
  • Fenced Front Yard
  • Level Lot
  • Mostly Level
  • May Be Possible The Lot Can Be Split Into 2+ Parcels

Utilities

  • Gas Available

Property Details

Property Type

Land

Est. Annual Taxes

$31,564

Lot Details

0

Listing Details

  • Zoning: C20000
  • Subclass: Residential Development Land
  • Listing Class: Residential Lots & Land
  • Present Use: Multi-Family
  • Development Status: Improvements - Other, Lot Split Possible
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Fencing: Fenced Front

Utilities

  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Description: Grade - Level, Grade - Mostly Level, Possible Lot Split
  • Lot Acres: 0.1653
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7200.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7200.00
  • Parcel Access: City Street

Multi Family

  • Utilities: Electricity - On Site, Gas - On Site

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 21, 2019
Closed on
Aug 7, 2019
Sold by
Michelson Clara and Michelson Klara
Bought by
814 Edgehill Llc
Seller's Agent
Fred Rubio
Marcus & Millichap
Buyer's Agent
Mitchell Zurich
Marcus & Millichap
List Price
$3,500,000
Sold Price
$2,600,000
Premium/Discount to List
-$900,000
-25.71%
Current Estimated Value
$3,019,265

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$419,265
Avg. Annual Appreciation
2.45%
Original Mortgage
$1,820,000
Outstanding Balance
$1,614,617
Interest Rate
4.35%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$1,404,648

Purchase Details

Closed on
Jun 16, 2015
Sold by
Mikhelson Klara and Michelson Clara
Bought by
Mikhelson Klara

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Interest Rate
3.77%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 20, 2014
Sold by
Franco Jose and Franco Linda
Bought by
Michelson Clara

Purchase Details

Closed on
Apr 19, 1999
Sold by
Shuju Suruki
Bought by
Franco Jose and Franco Linda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$333,900
Interest Rate
7.1%
Mortgage Type
Stand Alone First

Purchase Details

Closed on
Jun 6, 1996
Sold by
Suruki Shuji and Suruki Ryuko
Bought by
Suruki Shuji and Suruki Ryuko
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
814 Edgehill Llc $2,600,000 Chicago Title Co
Mikhelson Klara -- Fidelity National Title Co
Michelson Clara $1,025,000 Fidelity National Title Co
Franco Jose $477,000 Commonwealth Land Title Co
Suruki Shuji -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 814 Edgehill Llc $1,820,000
Previous Owner Mikhelson Klara $750,000
Previous Owner Franco Jose $333,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/27/2019 08/27/19 Sold $2,600,000 -13.0% $1,204 / Sq Ft
07/27/2019 07/27/19 Pending -- -- --
07/16/2019 07/16/19 Price Changed $2,988,000 -14.6% $1,383 / Sq Ft
05/21/2019 05/21/19 For Sale $3,500,000 -- $1,620 / 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 $31,564 $2,843,476 $1,203,008 $1,640,468
2023 $31,564 $2,733,062 $1,156,295 $1,576,767
2022 $30,437 $2,679,473 $1,133,623 $1,545,850
2021 $30,484 $2,626,936 $1,111,396 $1,515,540
2020 $29,851 $2,600,000 $1,100,000 $1,500,000
2019 $12,880 $1,104,322 $552,161 $552,161
2018 $12,637 $1,082,670 $541,335 $541,335
2017 $12,545 $1,061,442 $530,721 $530,721
2016 $12,085 $1,040,630 $520,315 $520,315
2015 $12,031 $1,025,000 $512,500 $512,500
2014 $7,353 $610,013 $184,152 $425,861
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81752921

MLSListings

APN: 029-022-150