E O’KEEFE STREET PORTFOLIO

The East O’Keefe portfolio offers a buyer an incredible opportunity to
purchase and control sixty-two units within three buildings directly adjacent to Menlo Park. The properties are currently being professionally managed by Graystar. Each building offers an opportunity for an buyer to come in and increase revenue and enhance these assets over the next few years.
201 E. O’Keefe is a twenty unit property consisting of sixteen one bedroom, one bath units and four, two bedroom, one bath units, the building has twenty four parking stalls, an elevator and a pool at the rear of the property.
245 E. O’Keefe is a twenty-two unit building consisting of sixteen one bedroom one bath units, and six two bedroom one bath units. This building has twenty-six parking stalls.
301 E. O’Keefe is a twenty unit building with sixteen, one bedroom, one bath units, and four studios. The property has twenty parking stalls and an elevator.
These properties sit in East Palo Alto, on the west side of Highway 101 just North of University Ave. They are just adjacent to Menlo Park to the north and west. Residents can walk to downtown Palo Alto, which is approximately 1.5 miles from the building. Applications have been approved for an additional 180,000 Sq. Ft of new commercial office at the University Circle office complex, as well as 550 new residential units, 2600 Sq. Ft of ground floor retail, a 9300 Sq. ft. fully amenitized public park, as well as a community room that can be rented by local residents to host family get togethers and the such. These additions should add upward pressure to rents and strengthen the demand in this already high demand location.