Ray Park Real Estate

Ray Park is a charming neighborhood located in Burlingame, California, in the county of San Mateo. Known for its tree-lined streets, well-maintained homes, and close-knit community feel, Ray Park offers residents a peaceful suburban setting while still being conveniently located near the amenities of Burlingame and the greater Bay Area.

Residents of Ray Park enjoy easy access to top-rated schools, beautiful parks, and a variety of shops and restaurants along nearby Broadway Avenue. The neighborhood is also within close proximity to major tech companies, making it a popular choice for professionals and families alike.

With its picturesque surroundings and family-friendly atmosphere, Ray Park is a sought-after community for those looking to settle down in a safe and welcoming environment. Whether you're taking a leisurely stroll through the neighborhood or enjoying a picnic in one of the local parks, Ray Park offers the perfect blend of tranquility and convenience for its residents.

Newest Listings in Ray Park

$16,498,000

ML82056372 MLS

1775 Marco Polo Way presents a compelling acquisition opportunity for nonprofit operators and mission-driven investors seeking a stabilized, income-secure affordable housing asset in one of the Peninsulas most supply-constrained rental markets. The property is 75% occupied with approximately 87% occupied units leased to Housing Choice Voucher holders, with rents paid directly by the Housing Authority of the County of San Mateo (HACSM) and other subsidized housing programs. Current income is not projected it is contracted and government-backed, reflected in the actual rent roll. The remaining 10 units are vacant and unencumbered, available for immediate lease up by the acquiring entity at current 2026 HUD Small Area Fair Market Rents for zip code 94010 (Studio: $2,520 | 1BR: $3,020 | 2BR: $3,660). The primary value driver for a qualifying nonprofit buyer is the California property tax welfare exemption under Revenue and Taxation Code Section 214. At $189,507 annually, a 75% exemption reduces this expense line to $47,377 a conservative assumption, as many qualifying nonprofit operators achieve full exemption upon conversion. Combined with stabilized voucher income, the pro forma generates NOI of $1,122,996 and a capitalization rate of 6.81% at the asking price of $16,498,000.

1775 Marco Polo WAY, Burlingame

Listed by Sam Runco, 650-759-3414 from Marcus & Millichap
(If provided) CoList: Philip Batlin from Marcus & Millichap

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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than JABEZ REALTY are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from MLSListings MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.