Welcome to 933 Florence Lane, a 4,080 SqFt 4plex located in the heart of Downtown Menlo Park walking distance to Caltrain and Santa Cruz Avenue. All units are two-bed/two-bath units and have private outdoor space and a 1 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).
FOR SALE
This Home's Features
List Price
$3,500,000
MLS Number
ML82004513
Beds
8
Baths
8
Car Garage
4
Square Feet
4,080
Year Built
1964
Lot Size
7,436 Square Fee
First time ever on the market! The current ownership built the property in 1964.
Rarely Available Downtown Menlo Park Fourplex One Block From Downtown Menlo Park Shops and Restaurants
Generational Pride Of Ownership Asset In One Of Silicon Valley's Most Prestigious Locations.
Close proximity to Stanford University (1.5 miles), Stanford Shopping Center (1.6 miles), Stanford Hospital (2.4 miles) Downtown Palo Alto (2.8 miles), and Facebook Headquarters (4.5 miles).
Superior Unit Mix- All units feature 2-Bed/2-Bath Units with private outdoor space
Potential to convert garages into ADUs
Upgrades include upgraded electrical panels, dual-pane windows, copper fresh water pipe, painted exterior, etc
First time ever on the market! The current ownership built the property in 1964.
Rarely Available Downtown Menlo Park Fourplex One Block From Downtown Menlo Park Shops and Restaurants
Generational Pride Of Ownership Asset In One Of Silicon Valley's Most Prestigious Locations.
Close proximity to Stanford University (1.5 miles), Stanford Shopping Center (1.6 miles), Stanford Hospital (2.4 miles) Downtown Palo Alto (2.8 miles), and Facebook Headquarters (4.5 miles).
Superior Unit Mix- All units feature 2-Bed/2-Bath Units with private outdoor space
Potential to convert garages into ADUs
Upgrades include upgraded electrical panels, dual-pane windows, copper fresh water pipe, painted exterior, etc