OPEN HOUSE 11/14 11AM-1PM | 660 Roble Ave
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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
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)
PROPERTY TAXES
Parcel Number | 071-331-120 | Improvements Assessment | £665,656 |
Land Assessment | £753,759 | Total Assessment | £1,419,415 |
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 |
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OPEN HOUSE 11/14 11AM-1PM | 660 Roble Ave
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