See all 8 photos
8 photos
$4,800,000
$5,032,000 4.6%
Est. payment /mo
0.46 Acres Lot
UPDATED:
Key Details
Sold Price $4,800,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81991244
Sold Date 04/18/25
HOA Y/N No
Year Built 1962
Annual Tax Amount $67,259
Lot Size 0.458 Acres
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 699 - Not Defined
Zoning R
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Carport Spaces 22
Roof Type Flat,Tar/Gravel
Total Parking Spaces 2
Building
Water Public
Schools
High Schools Menlo-Atherton
School District Other
Others
Tax ID 063442270
Financing Conventional
Special Listing Condition Standard
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Listed by Scott Kilpatrick • Compass
Bought with Andres Lopez • Marcus & Millichap
Bought with Andres Lopez • Marcus & Millichap