CA > Menlo Park
Menlo Park, CA 94025,933 Florence LN
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$3,500,000
Est. payment /mo
4,080 SqFt
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,080 sqft

Price per Sqft $857

MLS Listing ID ML82004513

HOA Y/N No

Year Built 1964

Annual Tax Amount $39,793

Lot Size 7,435 Sqft

Property Sub-Type Quadruplex

Property Description

Welcome to 933 Florence Lane, a 4,080 SqFt fourplex located in the heart of Downtown Menlo Park walking distance to Caltrain and Santa Cruz Avenue. All units are two-bedroom/two-bathroom and have private outdoor space and a one-car garage and tandem parking space. The current owner and his family built the property in 1964. Recent improvements include new electrical panels, copper plumbing, dual pane windows, central heating systems, and exterior paint. Opportunity to add value by renovating the unit interiors with luxury finishes and installing air conditioners, electric car chargers, and in-unit laundry to meet the demand of high-income technology employees. Additionally, a new owner can create accessory dwelling units through garage conversions. The property is located near to Stanford Shopping Center, Stanford University, Stanford Hospital, VC Firms on Sand Hill Road, and Meta's headquarters. The strong rent growth, shortage of housing units, proximity to hi-tech employers employers, and value-add and ADU potential make 933 Florence Lane a great opportunity for both the cash flow and appreciation-minded investor. Offering Memorandum available. Cap Rate: 2.42% (Current), 4.61% (Market). GRM: 24.2 (Current), 15.51 (Market). Monthly Rent: $12,050 (Current), $18,800 (Market).

Location

State CA

County San Mateo

Area 699 - Not Defined

Zoning R3

Interior

Flooring Carpet, Tile

Fireplace No

Exterior

Parking Features Covered, Off Street

Garage Spaces 4.0

Garage Description 4.0

View Y/N No

Roof Type Composition,Shingle

Accessibility None

Total Parking Spaces 4

Building

Story 2

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Schools

Elementary Schools Oak Knoll

Middle Schools Hillview

High Schools Menlo-Atherton

School District Other

Others

Tax ID 071302040

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Ismael Benhamida • Compass
agent-avatar

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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