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.
Pending
Price cut: $85K (10/8)
$1,595,000
1120 Elmer St, Belmont, CA 94002
4beds
4baths
2,516sqft
Quadruplex, Residential Income
Built in 1953
-- sqft lot
$1,538,100 Zestimate®
$634/sqft
$-- HOA
What's special
- 144 days
- 387
- 19
Zillow last checked:
Listing updated:
Listed by:
Matthew Thomson 01471708 650-515-6555,
Compass 415-874-5000,
Bryan Danforth 01789680 650-274-5227,
Compass
Source: MLSListings Inc,MLS#: ML82051468
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Gas, Wall Furnace
Cooling
- None
Features
- Doors: None
Interior area
- Total structure area: 2,516
- Total interior livable area: 2,516 sqft
Property
Parking
- Total spaces: 4
- Parking features: Carport
- Carport spaces: 4
Accessibility
- Accessibility features: None
Features
- Stories: 2
Lot
- Size: 4,748 Square Feet
Details
- Parcel number: 040332080
- Zoning: C40000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Residential Income
Materials
- Foundation: Slab
- Roof: Flat
Condition
- Year built: 1953
Utilities & green energy
- Gas: IndividualGasMeters
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Water Public, Individual Electric Meters, Individual Gas Meters
Community & HOA
Location
- Region: Belmont
Financial & listing details
- Price per square foot: $634/sqft
- Tax assessed value: $1,487,772
- Annual tax amount: $23,737
- Date on market: 6/18/2026
- Listing agreement: ExclusiveRightToSell
- Inclusions: Building, FixturesandEquipment, Land
- Lease term: Month To Month
Estimated market value
$1,538,100
$1.46M - $1.62M
$3,772/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/20/2026 | Pending sale | $1,595,000$634/sqft |
Source:  MLSListings Inc #ML82051468 Report a problem | ||
| 10/8/2026 | Price change | $1,595,000-5.1%$634/sqft |
Source: MLSListings Inc #ML82051468 Report a problem | ||
| 7/4/2026 | Listed for sale | $1,680,000$668/sqft |
Source: MLSListings Inc #ML82051468 Report a problem | ||
| 7/1/2026 | Contingent | $1,680,000$668/sqft |
Source: MLSListings Inc #ML82051468 Report a problem | ||
| 6/18/2026 | Listed for sale | $1,680,000+17.5%$668/sqft |
Source: MLSListings Inc #ML82051468 Report a problem | ||
| 1/22/2024 | Sold | $1,430,000-10.5%$568/sqft |
Source: MLSListings Inc #ML81943692 Report a problem | ||
| 12/14/2023 | Pending sale | $1,598,000$635/sqft |
Source: MLSListings Inc #ML81943692 Report a problem | ||
| 11/7/2023 | Listed for sale | $1,598,000$635/sqft |
Source: MLSListings Inc #ML81943692 Report a problem | ||
| 11/3/2023 | Contingent | $1,598,000$635/sqft |
Source: MLSListings Inc #ML81943692 Report a problem | ||
| 9/30/2023 | Listed for sale | $1,598,000$635/sqft |
Source: MLSListings Inc #ML81943692 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $1,487,772 +2% |
| 2025 | $22,203 +82.2% | $1,458,600 +161.6% |
| 2024 | $12,188 -2.5% | $557,561 +2% |
| 2023 | $12,507 +3% | $546,629 +2% |
| 2022 | $12,142 +2.6% | $535,912 +2% |
| 2021 | $11,837 +13.6% | $525,405 +1% |
| 2020 | $10,418 -5.7% | $520,019 +2% |
| 2019 | $11,043 +9.3% | $509,824 +2% |
| 2018 | $10,104 +2.7% | $499,828 +2% |
| 2017 | $9,842 +16.2% | $490,028 +2% |
| 2016 | $8,468 +4.1% | $480,421 +1.5% |
| 2015 | $8,135 | $473,206 +2% |
| 2014 | $8,135 | $463,938 +0.5% |
| 2013 | -- | $461,842 +2% |
| 2012 | -- | $452,788 |
| 2011 | -- | $452,788 +2.8% |
| 2010 | -- | $440,595 -0.2% |
| 2009 | -- | $441,643 +2% |
| 2008 | -- | $432,984 +2% |
| 2007 | -- | $424,495 +2% |
| 2006 | -- | $416,172 |
| 2005 | -- | $416,172 +4% |
| 2004 | -- | $400,013 +1.9% |
| 2003 | -- | $392,683 +2% |
| 2002 | -- | $384,985 +2% |
| 2001 | -- | $377,437 +2% |
| 2000 | -- | $370,037 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Homebire
Nearby schools
Schools provided by the listing agent
- District: BelmontRedwoodShoresElementary
Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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