933 Florence LN, Menlo Park, CA 94025 – ML82004513

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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

Listed by Ismael Benhamida • Compass

$3,500,000

Est. payment - /mo

8 Beds

8 Baths

4,080 SqFt

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Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Pending

Purchase Type For Sale

Square Footage 4,080 sqft

Price per Sqft $857

MLS Listing ID ML82004513

Bedrooms 8

Full Baths 8

Year Built 1964

Lot Size 7,436 Sqft

Property Sub-Type Fourplex

Property Description

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).

Location

State CA

County San Mateo

Area Allied Arts / Downtown

Zoning R3

Rooms

Other Rooms Laundry Room, Storage

Interior

Heating Central Forced Air - Gas

Cooling Ceiling Fan

Flooring Carpet, Tile

Laundry Washer / Dryer

Exterior

Exterior Feature Back Yard, Balcony / Patio, Deck , Fenced, Low Maintenance, Porch - Enclosed

Parking Features Assigned Spaces, Attached Garage, Covered Parking, Off-Street Parking

Garage Spaces 4.0

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

Roof Type Composition,Shingle

Building

Story 2

Foundation Concrete Perimeter

Sewer Sewer - Public

Water Public

Level or Stories 2

Others

Tax ID 071-302-040

Security Features None

Horse Property No

Special Listing Condition Not Applicable

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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933 Florence LN Menlo Park, CA 94025

Sean Beattie Jr.

Key Details

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Rooms

Interior

Exterior

Building

Others

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