Property Details
Upcoming Open Houses
About this Property
2186 Carlmont Drive or The Palma Apartments are an impeccably-maintained and managed 10-unit multifamily property located in the exclusive Belmont Hills neighborhood of Belmont, California. Listed at $4,300,000, this multifamily investment property offers a unit mix of eight (8) 1-bedroom/1-bath units (675 sqft) and two (2) 2-bedroom/1-bath units (901 sqft) totaling 9,688 square feet of gross building area on a 10,000 square foot lot. The property features large patios/balconies, 11 tenant parking spaces, 11 individual storage closets, and circuit breakers throughout. Key upgrades include a 35-year laminated fiberglass shingle roof (2013), a 100-gallon water heater (replaced in 2022), and SB 721 inspections have been completed. All units are individually metered for gas and electricity, with wall heaters in the 1-bedroom units and forced air in 2-bedroom units. Currently generating nearly $285,000 in annual income with an in-place 15.15 GRM, this asset presents strong current cash flow with rental upside. Ideally located near Carlmont Village Shopping Center and top-rated schools, this is an excellent opportunity for investors seeking solid in-place income and long-term value in one of the Peninsulas strongest rental markets.
MLS Listing Information
MLS #
ML82015110
MLS Source
MLSListings, Inc.
Days on Site
3
Interior Features
Kitchen
Countertop - Granite, Varies by Unit
Appliances
Dishwasher, Oven Range - Electric
Flooring
Laminate
Laundry
Coin Operated
Cooling
Ceiling Fan
Heating
Central Forced Air - Gas, Wall Furnace
Exterior Features
Roof
Fiberglass, Shingle
Foundation
Concrete Perimeter, Slab
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Covered Parking, Garage: 0 Car(s)
Elementary District
Belmont-Redwood Shores Elementary
High School District
Sequoia Union High
Sewer
Public Sewer
Water
Public
Zoning
Multifamily Residential
Contact Information
Listing Agent
Nate Gustavson
Compass
License #: 01898316
Phone: (415) 786-9410
Co-Listing Agent
Cameron Foster
License #: 00972394
Phone: (415) 699-6168
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 9 | 10 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 901 | 2 | 1/0 | $2,440 | $2,795 | 2 |
| 2 | 675 | 1 | 1/0 | $2,199 | $2,395 | 8 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
2186 Carlmont Dr is a Residential Income in Belmont, CA 94002. This 9,688 square foot property sits on a 9,914 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $4,300,000 and was built in 1961. This address can also be written as 2186 Carlmont Dr, Belmont, CA 94002.
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This listing information is up-to-date as of July 18, 2025. For the most current information, please contact Nate Gustavson, (415) 786-9410
