Bought with Andres Lopez • Marcus & Millichap
$4,800,000
$5,032,000
4.6%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
2 Baths
25,285 SqFt
SOLD DATE : 04/18/2025
Key Details
Sold Price $4,800,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 25,285 sqft
Price per Sqft $189
MLS Listing ID ML81991244
Sold Date 04/18/25
Bedrooms 3
Full Baths 2
Year Built 1962
Lot Size 0.458 Acres
Property Sub-Type Five or More Units
Property Description
Adjacent to Menlo Park, to North and West. This amazing opportunity is tucked into a residential neighborhood just West of Hwy 101 and North of University Ave. This building consists of twenty units, 16:1x1 and 4: 2x1 units. This building has an elevator and pool, as well as 22 parking stalls. All residents have access to free Wi-Fi There are approved plans for 550 new apartments as well as community center and park just down the street. This will greatly improve the neighborhood. Very few opportunities to purchase on the West side in East Palo Alto. Currently being sold in conjunction with 22 units at 245 E. O'Keefe and 20 units at 301 E. O'Keefe. Total of 62 units, 48, 1x1, 10, 2x1 and 4 Studios, total income for 201 OKeefe= $475,776 annually, Total income for the portfolio = $1,448,531 All three buildings located within Federal designated opportunity zone.
Location
State CA
County San Mateo
Area West Of U.S. 101
Zoning R
Interior
Heating Wall Furnace
Cooling Ceiling Fan, Window / Wall Unit
Flooring Carpet, Hardwood, Laminate, Tile, Vinyl / Linoleum
Laundry Coin Operated
Exterior
Parking Features Assigned Spaces, Covered Parking, On Street, Parking Restrictions
Pool Pool - In Ground
Community Features Community Pool, Elevator
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Flat / Low Pitch,Rolled Composition,Tar and Gravel
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Restrictions Age - No Restrictions,Pets - Allowed,Pets - Restrictions
Tax ID 063-442-270
Security Features Controlled / Secured Access,Fire Alarm ,Video / Audio System
Special Listing Condition Not Applicable
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