$ 3,500,000
-
$3,500,000
Price -
8
Bed - Bath
-
4,080
SqFt
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About the Listing ML5012166 - ML5086143,ML5091085
Welcome to 933 Florence Lane, a 4,080 SqFt fourplex located in the heart of Downtown Menlo Park walking distance to Caltrain and Santa Cruz Avenue. All units are two-bedroom/two-bathroom and have private outdoor space and a one-car garage and tandem parking space. The current owner and his family built the property in 1964. Recent improvements include new electrical panels, copper plumbing, dual pane windows, central heating systems, and exterior paint. Opportunity to add value by renovating the unit interiors with luxury finishes and installing air conditioners, electric car chargers, and in-unit laundry to meet the demand of high-income technology employees. Additionally, a new owner can create accessory dwelling units through garage conversions. The property is located near to Stanford Shopping Center, Stanford University, Stanford Hospital, VC Firms on Sand Hill Road, and Meta's headquarters. The strong rent growth, shortage of housing units, proximity to hi-tech employers employers, and value-add and ADU potential make 933 Florence Lane a great opportunity for both the cash flow and appreciation-minded investor. Offering Memorandum available. Cap Rate: 2.42% (Current), 4.61% (Market). GRM: 24.2 (Current), 15.51 (Market). Monthly Rent: $12,050 (Current), $18,800 (Market).
Listing Highlights for 933 Florence Ln
Status
Pending
Days on Site
132
Property Type
Multi-Family
MLS ®
ML82004513
Year Built
1964
Total Square Footage
4,080
Lot/Acreage
0.17
County
San Mateo
Area
699 - Not Defined
Interior Details
- Bedrooms: 8
- Bathrooms: Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor: Carpet,Tile
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: 4 car
- Parking Spaces: 4
- Zoning: R3
- Roof: Composition,Shingle
- Others:
- Sewer: Public Sewer
- Parking Features: Covered,Off Street
Financial Details
- Tax Amount: $39,793
- Taxes w/Assessments: N/A
- Tax/Property ID: 071302040
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
933 Florence Ln Menlo Park, CA 94025
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