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Listed by Matthew Thomson • Compass
Bought with Carlos Padilla • Intero Real Estate Services
Bought with Carlos Padilla • Intero Real Estate Services
$3,025,000
$3,200,000 5.5%
Est. payment /mo
3 Beds
2 Baths
7,356 SqFt
Sold on 05/29/2025
505 & 513 Pierce RD Menlo Park, CA 94025
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Key Details
Sold Price $3,025,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,356 sqft
Price per Sqft $411
MLS Listing ID ML81997631
Sold Date 05/29/25
Bedrooms 3
Full Baths 2
Year Built 1957
Lot Size 10,655 Sqft
Property Sub-Type Five or More Units
Property Description
505 & 513 Pierce Street in Menlo Park is a 10-unit property consisting or 2 identical adjacent 5-unit apartment buildings (available separately or together). (2) 2+1s & (8) 1+1s. Excellent 5.07% Day One Cap Rate. 7 of the 10 units have been renovated with premium in-place rents and 1 of the unrenovated units is vacant and being intentionally held unoccupied so a new owner can benefit immediately by upgrading the unit and adding value. Strong in-place RUBS & Laundry income. This is part of a 29 unit portfolio sale consisting of 5 buildings, available as a portfolio or separately in any combination: 3786 Rolison Road, Redwood City - 12 Units, 154 Poplar Avenue, Redwood City - 5 Units, 505 Pierce Road, Menlo Park: 5 Units, 513 Pierce Road, Menlo Park - 5 Units, 501 Pierce Road, Menlo Park - Duplex. All properties on MLS.
Location
State CA
County San Mateo
Area East Of U.S. 101 Menlo Park
Zoning R40000
Interior
Heating Gas
Cooling None
Exterior
Parking Features Carport
Utilities Available Public Utilities
Roof Type Composition,Shingle
Building
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 062-022-110
Security Features Security Lights
Special Listing Condition Not Applicable
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