Burlingame, CA 94010
$16,498,000
Bed
0
Bath
0
Living Space
23,075 SqFt
Year Built
1957
Lot Size
0.89 Acres
Days
26
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.
- Franklin Elementary School (Elementary) - GreatSchools rating 10/10 - Spring Valley Elementary School (Elementary) - GreatSchools rating 10/10 - Burlingame Intermediate School (Middle) - GreatSchools rating 10/10 School District: Rating not listed
Within a 1-2 mile radius of Marco Polo Burlingame, CA, several parks offer recreational opportunities. Washington Park, located at 850 Burlingame Ave, features playgrounds, tennis courts, a dog park, picnic areas, a soccer field, and a basketball court. Mills Canyon Park provides trails through undeveloped areas, offering a natural escape. Coyote Point Recreation Area, situated along the San Francisco Bay, includes waterfront trails, a marina, and open green lawns.
The Marco Polo Way area is part of the 94010 neighborhood in Burlingame, CA. This area is characterized by tree-lined streets with modern ranch-style homes, reflecting a post-World War II development period. The neighborhood's streets are named after explorers, including Marco Polo, reflecting the influence of an avid ornithologist and history buff who developed the area. It is within walking distance to local amenities and has a close-knit, laid-back vibe.
The Marco Polo Burlingame, CA area has a Walk Score of 60/100 and a Transit Score of 50/100. Transportation options include Millbrae (Caltrain Transfer Platform), located 0.9 miles away. Public transit is available, and the area is considered moderately walkable.
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.
- Franklin Elementary School (Elementary) - GreatSchools rating 10/10 - Spring Valley Elementary School (Elementary) - GreatSchools rating 10/10 - Burlingame Intermediate School (Middle) - GreatSchools rating 10/10 School District: Rating not listed
Within a 1-2 mile radius of Marco Polo Burlingame, CA, several parks offer recreational opportunities. Washington Park, located at 850 Burlingame Ave, features playgrounds, tennis courts, a dog park, picnic areas, a soccer field, and a basketball court. Mills Canyon Park provides trails through undeveloped areas, offering a natural escape. Coyote Point Recreation Area, situated along the San Francisco Bay, includes waterfront trails, a marina, and open green lawns.
The Marco Polo Way area is part of the 94010 neighborhood in Burlingame, CA. This area is characterized by tree-lined streets with modern ranch-style homes, reflecting a post-World War II development period. The neighborhood's streets are named after explorers, including Marco Polo, reflecting the influence of an avid ornithologist and history buff who developed the area. It is within walking distance to local amenities and has a close-knit, laid-back vibe.
The Marco Polo Burlingame, CA area has a Walk Score of 60/100 and a Transit Score of 50/100. Transportation options include Millbrae (Caltrain Transfer Platform), located 0.9 miles away. Public transit is available, and the area is considered moderately walkable.
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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