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OPEN HOUSE 11/14 11AM-1PM 660 Roble Ave

9 Unit Block of Flats £3,862,270 (£429,141/Unit) 3.05% Net Initial Yield Menlo Park, CA 94025

Investment 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

Executive Summary

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.

Property Facts

Price £3,862,270
Price Per Unit £429,141
Sale Type Investment
Net Initial Yield 3.05%
Gross Rent Multiplier 21.35
No. Units 9
Property Type Residential
Property Subtype
Apartment
  • Multifamily Manufactured Housing Mobile Home Park
Apartment Style Low Rise
Building Class C
Lot Size 0.20 AC
Building Size 5,220 SF
Number of Floors 2
Year Built/Renovated 1956/2024
Parking Ratio 1.53/1,000 SF

Unit Amenities

  • Ceiling Fans
  • Wooden Floors
  • Double Pane Windows

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Tenant Controlled HVAC
  • Walk-Up
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
Studios 6 - -
1+1 1 - -
2+1 2 - -
Walk Score ®
Walker's Paradise (96)
Bike Score ®
Biker's Paradise (99)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
071-331-120
Land Assessment
£753,759
Improvements Assessment
£665,656
Total Assessment
£1,419,415

zoning

Zoning Code R3
R3
  • Listing ID: 33806648

  • Date on Market: 08/11/2024

  • Last Updated:

  • Address: 660 Roble Ave, Menlo Park, CA 94025

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