Pierce RD new

Menlo Park,CA 94025

$ 3200000

- Bed

0 Bath

- SqFt


Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML81997631

HOA Y/N No

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

Fireplace No

Exterior

Carport Spaces 10

Roof Type Composition,Shingle

Building

Water Public

Schools

School District Other

Others

Tax ID 062022110

Security Features Security Lights

Special Listing Condition Standard

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