Search multi-family homes for sale in Burlingame, CA with The Sternsmith Group.
The Burlingame housing market is among the most competitive in the region, with homes receiving an average of 9 offers and going under contract in just 13 days. In contrast to nearby markets seeing price corrections, Burlingame has experienced sharp growth—home prices surged 17.9% year-over-year to a median of $2.8M, while the price per square foot climbed 6.5% to $1,420. This rapid appreciation reflects sustained demand, limited inventory, and strong buyer confidence in the area’s long-term value. For buyers, it means navigating bidding wars and acting quickly; for sellers, it’s an ideal climate to maximize return.
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Burlingame sits at a rare economic crossroads—perfectly positioned between San Francisco and Silicon Valley. For multi-family investors, that translates into consistently high rental demand from a diverse tenant base: tech professionals, airport employees, consultants, and families who want proximity to both the city and the valley without the congestion of either. Unlike other California markets that rely heavily on one industry, Burlingame’s dual access to major employment hubs makes its rental market remarkably resilient. Vacancy rates remain low even when neighboring cities fluctuate. The city’s easy access to Caltrain, BART connections, and Highway 101 gives tenants convenience, while owners enjoy stable cash flow and strong appreciation potential in one of the most supply-constrained corridors in the country.
Burlingame’s multi-family housing stock is small compared to larger cities like San Jose or Oakland—which is precisely why it’s valuable. Strict zoning and limited land availability mean that very few new multi-family developments are approved, creating persistent scarcity. This restricted supply keeps property values high and shields investors from market oversaturation. In other parts of California, especially in areas with ongoing large-scale construction, rental prices and property values can fluctuate more dramatically. In Burlingame, the scarcity of multi-family properties—combined with its reputation for safety, schools, and quality of life—creates a long-term appreciation curve that’s unusually steady for California real estate. Investors here are buying into both stability and prestige, not just a building.
What truly sets Burlingame apart from many other rental markets is the quality and consistency of its tenants. The city’s strong public schools, walkable downtown, and tree-lined neighborhoods attract professionals and families looking for longer-term housing options. Many tenants in Burlingame stay for years, not months, reducing turnover costs and management stress. That’s a sharp contrast to transient-heavy rental markets like downtown Los Angeles or San Francisco’s urban core. Owning a multi-family property in Burlingame means cultivating stable rental income from tenants who value community, upkeep, and neighborhood pride—traits that directly translate into higher net operating income and lower risk over time.
Contact us today to get personalized insights, off-market opportunities, and expert representation in one of the Bay Area’s most exclusive real estate markets. Whether you're seeking elegance, privacy, or a generational estate, we’re here to help you find the right property with confidence.
Burlingame’s unusual closeness to San Francisco International Airport is a double-edged sword for multi-family owners: it creates a steady pool of renters (airline staff, frequent-travel professionals, consultants) who prize short commutes to SFO, but it also places parts of the city inside published aircraft noise contours that materially affect outdoor living, tenant satisfaction, and construction/spec costs (sound-rated windows, upgraded HVAC, insulated walls). Before buying, run the property address against SFO’s CNEL/DNL maps and any city monitoring reports so you can price mitigation into renovation budgets and set correct rent expectations for units with balconies, patios, or bedrooms facing typical flight paths.
Burlingame’s multi-family development is concentrated in clearly mapped zones (Downtown Specific Plan area, R-4 incentive overlays, and a few residential zoning districts) rather than scattered across the entire city, which means there are very few raw parcels where adding or intensifying units is straightforward. That scarcity raises long-term upside for existing multi-family buildings (low new-supply pressure) but also makes site-selection and entitlement strategy crucial: buying a “teardown” to build market-rate units is more complicated here than in many other Bay Area cities because the allowable FAR, height limits, and development standards are tightly defined in the city’s planning documents. Have your agent/architect verify the parcel’s zoning designation and permitted densities before you bid.
Burlingame’s walkable downtown and Caltrain access (along with the short drive to SFO) produce a tenant pool that’s heavier on long-term professional and family rentals than you’ll find in more transient, single-industry towns. That commuter profile typically means longer lease tenures, fewer mid-lease vacates, and demand for units with home-office or two-bedroom configurations. When underwriting, model slightly lower turnover and higher retention for properties within easy walking distance of the station or downtown services than you might for properties in purely suburban markets.
Several Burlingame neighborhoods operate residential parking permit programs and the city enforces off-street parking requirements that affect both tenant convenience and entitlement feasibility for added units. For multi-family purchases, two different problems arise: (a) properties lacking adequate off-street spots may face permit or guest-parking constraints that lower tenant appeal, and (b) adding units often requires costly site work to create compliant parking stalls or to secure waivers/variances. Conversely, in certain transit-proximate overlays the city has specific parking exceptions for new small-unit projects—so whether a parcel sits inside a parking permit area or a transit-adjacent overlay will materially change renovation and operating costs. Factor permit maps and parking-compliance expenses into your pro forma.
Much of Burlingame’s character comes from older duplexes, triplexes, and architecturally distinctive blocks within its established neighborhoods and downtown. That character is protected by design guidelines and the Downtown Specific Plan, so routine facade changes, demolitions, or large-scale modernizations can trigger discretionary review, hearings, or specialized restoration requirements. For an investor: that increases soft costs (architects experienced in local review, longer entitlement timelines, historically-sensitive materials) but also preserves neighborhood desirability—meaning renovated units in preserved contexts often command a premium versus identical product in a nondescript building. Budget expertise and time for design review into any rehab plan.
Burlingame’s public schools (and its place within respected elementary and high-school districts) make the city attractive to families who rent long-term rather than move every 12 months. That school-driven demand contributes to lower turnover, careful tenant stewardship of older multi-family buildings, and higher sustained occupancy for units that are marketed to families (two- and three-bedroom floorplans). If your investment thesis includes family tenancy (stable leases, lower management churn), proximity to specific school boundaries and neighborhood elementary/middle/high schools is a quantifiable advantage in Burlingame.
Multi-family homes in Burlingame are rare, high-demand investments that combine long-term value with steady rental potential. Whether you’re exploring current listings, curious about zoning and development opportunities, or ready to schedule a private showing, our team can guide you through every step. Contact us today to discuss available properties and discover how owning a multi-family home in Burlingame can elevate your real estate portfolio.
Discover what makes Burlingame, CA one of the Bay Area’s most sought-after luxury communities. From its elegant tree-lined streets and historic architecture to its vibrant downtown and top-rated schools, Burlingame offers the perfect blend of sophistication and small-town charm. Explore our Burlingame neighborhood guide to learn about local lifestyle, real estate trends, and the unique character of each area—and see why so many discerning buyers choose to call Burlingame home.
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