660 Roble Ave - Apartments FOR SALE


Menlo Park, CA 94025
$4,888,888 USD
650-618-3481
660 Roble Ave, Menlo Park, CA for Sale
$4,888,888 USD
Apartments - FOR SALE
1/20
null | 3.05% Cap Rate

660 Roble Ave
Menlo Park, CA 94025


HIGHLIGHTS

  • Turn key Asset - Excellent upside potential in Downtown Menlo Park Location- $150K in recent capital improvements
  • Upgraded windows and unit interiors - New Roofs - New Patio Areas- Tremendous curb appeal

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire 660 Roble Avenue, an eight-unit multifamily property in Menlo Park. This is a tremendous opportunity for an investor to acquire a property not just in the heart of the Silicon Valley but also one of the most affluent communities in the United States. 660 Roble Avenue is an eight-unit multifamily property located in one of the most desired areas of Menlo Park. The property sits on a 0.2 acre lot. Among the amenities are on-site laundry, individual carports for each unit along with ample street parking. Its location is one of the most desired in Menlo Park, making it highly coveted by tenants. Downtown Menlo Park is a few blocks away with over 50 shops, restaurants, and services that include Draeger’s Market, Walgreens, and Amici’s East Coast Pizzeria. Residents are also a short drive away from Stanford Mall and Downtown Palo Alto. Residents have easy access to El Camino Real, which offers a direct route to most major cities in the South Bay and the Peninsula. Menlo Park is a sought-after destination for investors and residents. It’s also one of the most valued cities with the average median home price being over $3.2M (as of June 2024). The price along with current interest rates and intense competition places homeownership out of reach for most residents, creating a robust tenant base.

FOR SALE DETAILS

PRICE

$4,888,888 USD

PRICE/SF

$937 USD /SF

# OF UNITS

9

PRICE/UNIT

$543,210

CAP RATE

3.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

OPEN HOUSE 11/14 11AM-1PM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,551 SF

ZONING

R3

APN/PARCEL ID

071-331-120

ASK ABOUT THIS PROPERTY

Michael HenshawMarcus & MillichapMore Info
650-618-3481

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Michael HenshawMarcus & MillichapMore Info
650-618-3481

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.