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Pierce RD Menlo Park, CA 94025
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Key Details
Sold Price $3,025,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81997631
Year Built 1957
Annual Tax Amount $51,159
Lot Size 10,654 Sqft
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
Area 699 - Not Defined
Zoning R40000
Interior
Cooling None
Exterior
Roof Type Composition,Shingle
Building
Water Public
Schools
School District Other
Others
Special Listing Condition Standard
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Bought with Carlos Padilla Intero Real Estate Services