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Multifamily

Skyline Terrace

Burlingame, CA

138 Units

Built in 1967

Value Add

Investment Highlights

  • Transformational Value-Add Opportunity: Burlingame's exceptional demographics, coupled with the asset's irreplaceable location, setting, and views, set the stage for a renovate-to-core strategy. In addition to implementing a top-of-the-market interior renovation program, a full repositioning of the asset's amenities and common areas will transform the property into a world-class luxury rental community.
  • Iconic Architecture Featuring Expansive Views: The property's modern architecture design includes a well-appointed mix of exceptionally large one-, two-, and three-bedroom units averaging an impressive 1,260 square feet. Two- and three-bedroom homes comprise two-thirds of the unit mix. Moreover, 77 units (56 percent) boast partial or full panoramic San Francisco Bay views.
  • Robust Market Fundamentals and Renter-by-Choice Cohort: Burlingame boasts an impressive average household income of over $171,000 and a median home price of $2,300,000. The area's affluent demographic, the growing renter-by-choice preference, and the unique nature of Skyline Terrace's physical plant make it an ideal candidate for an extensive renovation.
  • Prestigious Burlingame Address and Unique Lifestyle Amenities: The city of Burlingame attracts the most affluent Bay Area residents due to its breathtaking natural setting, favorable climate, proximity to both San Francisco and Silicon Valley, highly regarded public schools, and access to high-end retail and lifestyle centers. Residents have access to four schools with a 9 out of 10 GreatSchools rating.

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