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$3,200,000
Est. payment /mo
7,356 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,356 sqft
Price per Sqft $435
MLS Listing ID ML81997631
HOA Y/N No
Year Built 1957
Lot Size 10,655 Sqft
Acres 0.24
Property Sub-Type Other
Property Description
505 & 513 Pierce Street in Menlo Park is a 10-unit property consisting or 2 identical adjacent 5-unit apartment buildings (available separately or together). (2) 2+1s & (8) 1+1s. Excellent 5.07% Day One Cap Rate. 7 of the 10 units have been renovated with premium in-place rents and 1 of the unrenovated units is vacant and being intentionally held unoccupied so a new owner can benefit immediately by upgrading the unit and adding value. Strong in-place RUBS & Laundry income. This is part of a 29 unit portfolio sale consisting of 5 buildings, available as a portfolio or separately in any combination: 3786 Rolison Road, Redwood City - 12 Units, 154 Poplar Avenue, Redwood City - 5 Units, 505 Pierce Road, Menlo Park: 5 Units, 513 Pierce Road, Menlo Park - 5 Units, 501 Pierce Road, Menlo Park - Duplex. All properties on MLS.
Location
State CA
County San Mateo
Zoning R400
Interior
Heating Natural Gas
Cooling None
Fireplace No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 062022110
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Listed by Matthew Thomson • Compass