$3,025,000
$3,200,000
5.5%For more information regarding the value of a property, please contact us for a free consultation.
10,654 Sqft Lot
SOLD DATE : 05/29/2025
Key Details
Sold Price $3,025,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81997631
Sold Date 05/29/25
HOA Y/N No
Year Built 1957
Annual Tax Amount $51,159
Lot Size 10,654 Sqft
Property Description
505 & 513 Pierce Street in Menlo Park is a 10-unit property consisting or 2 identical adjacent 5-unit apartment buildings (available separately or together). (2) 2+1s & (8) 1+1s. Excellent 5.07% Day One Cap Rate. 7 of the 10 units have been renovated with premium in-place rents and 1 of the unrenovated units is vacant and being intentionally held unoccupied so a new owner can benefit immediately by upgrading the unit and adding value. Strong in-place RUBS & Laundry income. This is part of a 29 unit portfolio sale consisting of 5 buildings, available as a portfolio or separately in any combination: 3786 Rolison Road, Redwood City - 12 Units, 154 Poplar Avenue, Redwood City - 5 Units, 505 Pierce Road, Menlo Park: 5 Units, 513 Pierce Road, Menlo Park - 5 Units, 501 Pierce Road, Menlo Park - Duplex. All properties on MLS.
Location
State CA
County San Mateo
Area 699 - Not Defined
Zoning R40000
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 10
Roof Type Composition,Shingle
Building
Water Public
Schools
School District Other
Others
Tax ID 062022110
Security Features Security Lights
Financing Cash
Special Listing Condition Standard
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