564 University Dr , Menlo Park , CA 94025; Multifamily Properties For Sale; A-1 in San Mateo County
No. Units: 6
Building Size: 4,551 SF
Lot Size: 0.17 AC
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
564 University Drive, Menlo Park was built in 1954, and fully remodeled in 2012. This two-story, turn-key, 6 unit investment is 100% leased with upside potential in rental income. Each unit has been upgraded with new cabinets, granite counters, new appliances, marble bathrooms, designer carpet and marble floors. The downstairs units all have new real hardwood floors. Unit 3 has back patio along with a brand new master bath and unit 6 has a private balcony. The building has been recently painted, with new exterior doors, new exterior screen doors, dual pane windows, new light fixtures, repaved driveway, upgraded electrical, upgraded plumbing, new hot water heater, new roof over carports, and new exterior landscaping that is easy to maintain. As measured by an independent third party, the building is approximately 4,551 square feet situated on a 7,500 square foot lot . The building consists of stucco over wood frame, concrete perimeter foundation, newly paved asphalt driveway, and pitched comp shingle roof.
The property benefits from its excellent location in West Menlo Park; walking distance to Downtown Menlo Park, Stanford University, Stanford Shopping Mall, adjacent to Parks, and Transportation. The building contains 4 fully renovated and upgraded one bed/one bath units, 1 two bed/ 1 bath, and 1 two bed/two bath. All units have been meticulously remodeled with designer fit and finish, upgraded electrical, plumbing, and appliances. Each unit boasts an open and functional floor plan with the convenience of washer and dryer in each individual unit. Rents in this market are expected to continue to rise due to the exclusivity and desirability of the neighborhood, expanding tech industry and job market, as well as the local economy.