1120 Elmer Street, Belmont, California 94002, Belmont, 94002 - 0 bed, 0 bath
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Belmont, California 94002
Analysis of 1120 Elmer Street, Belmont, California 94002 is currently available with a list price of $1,680,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Belmont Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1953, the property features dated interior finishes, as seen in the bathroom, and is positioned as a value-add investment requiring updates to achieve top market rents. However, it avoids a lower rating due to key recent system upgrades, including a newly updated electrical system and new sewer lateral piping.
With one unit currently vacant and another becoming vacant soon, the property offers an immediate opportunity to renovate and capture top market rents.
Boasting a Walk Score of 88, the property is within walking distance to the Belmont Caltrain Station, shopping, and major upcoming life science development projects.
Features a newly upgraded electrical system and new sewer lateral piping ($22k investment), reducing immediate maintenance liabilities for the buyer.
Built in 1953, the property may require ongoing maintenance and further capital improvements typical of a building of this vintage.
The property consists entirely of 1-bedroom, 1-bathroom units, which limits the tenant demographic and excludes larger households or families.
Incredible opportunity to acquire a rarely available Fourplex in downtown Belmont that offers significant add-value for a new owner, with one unit already vacant and another coming vacant soon. Renovate and achieve top market rents immediately! (4) One-Bedroom / One-Bath Units. Newly upgraded electrical system and new sewer lateral piping installed ($22k). Individual water heaters. Walking distance to Belmont Caltrain Station and Belmont Village Shopping Center. Walk Score: 88 (Very Walkable). Surrounded by major Life Science & Biotech Development Projects estimated to deliver 13,000 employees - high paying research, tech & life science jobs - potential future tenants! Close proximity to highly ranked schools including Carlmont High School (10/10 Rating). Ideal for owner-occupiers, value-add multifamily investors, small syndicators, 1031 exchange buyers, life-science workforce housing, and family offices.
No exterior & parking available.
No sensitive facilities data found.
Jun 18, 2026
$1,680,000
Initial Listing
Jan 22, 2024
$1,430,000
Public Record