1308 Hoover St - Apartments FOR SALE


Menlo Park, CA 94025- Downtown Menlo Park
$9,500,000 USD
510-287-3125
1308 Hoover St, Menlo Park, CA for Sale
$9,500,000 USD
Apartments - FOR SALE
1/4
null | 2.02% Cap Rate

1308 Hoover St
Menlo Park, CA 94025
Downtown Menlo Park


HIGHLIGHTS

  • Rare Value Add Opportunity
  • Suburban Infill Location 2 Blocks from Downtown Menlo Park
  • Potential Rental Upside of over 13%
  • Walker’s Paradise (89 Walk Score) & Biker’s Paradise (97 Bike Score)
  • Additional Income through ADU Implementation

OVERVIEW

1300-1316 Hoover St, Menlo Park is a three-building 12-unit apartment community on two contiguous parcels located two blocks away from downtown Menlo Park. The property boasts a spacious mix of one and two-bedroom apartments with significant value-added capabilities through interior renovations and the opportunity to develop multiple ADU’s. Built in 1952 and 1957 on .66 acres of land, the 11,468 square foot properties offer an irreplaceable, infill location with a stable and strong tenant profile. Residents benefit from a myriad of amenities within proximity to the building, which highlights the strong economy of Menlo Park. Menlo Park is a stable and highly sought-after submarket that provides residents with a clean and safe community with a myriad of amenities in the area. Tenants are able to enjoy dining, shopping, entertainment, and leisurely activities all close to home. The properties offer consistent rental demand due to the rarity of development, elite public schools, and premier access to the greater Bay Area through public transportation and major freeways and thoroughfares.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$828 USD /SF

# OF UNITS

12

PRICE/UNIT

$791,667

CAP RATE

2.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1300-1316 Hoover St

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

071-103-270,071-103-280

ASK ABOUT THIS PROPERTY

Ben WemerColliersMore Info
510-287-3125

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Ben WemerColliersMore Info
510-287-3125

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.