1120 Elmer St, Belmont, CA 94002

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Pending

$1,595,000

bedrooms

bathrooms

square feet

2,516

Acreage

Open Houses

year built

1953

Full Baths

Half Baths

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PRICE IMPROVED!! 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. 4.04% Day 1 Cap Rate with room to improve significantly ASAP! 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.

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Open houses

None scheduled.

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MLS number: -

Listing agent: Matthew Thomson

Listing broker: Compass

Last update: Tuesday, October 20 2026 at 2:42 p.m. EDT

Compass Broker