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… Read More 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). Read Less
Courtesy of Compass, Ismael Benhamida 408-373-6195
Listing Snapshot
Days Online
37
Last Updated
Property Type
Fourplex
Square Ft.
4,080
Lot Size
0.17 Acres
Year Built
1964
MLS Number
ML82004513
30 Days Snapshot Of 94025
$3.84M
+37%
(avg) sold price
28
-20%
homes sold
35
+118%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 7436.00, Max Area Units: Square Feet
Unit One
2 bedrooms in unit 1, Unit 1 rent: $3,150
Unit Two
2 bedrooms in unit 2, Unit 2 rent: $3,000
Unit Three
2 bedrooms in unit 3, Unit 3 rent: $2,950
Unit Four
2 bedrooms in unit 4, Unit 4 rent: $2,950
Accessibility Features
None
Building
Built in 1964, 4 building units, 1 building, 4,080 structure square feet
Roof
Composition, Shingle
Utilities
Individual Electric Meters, Individual Gas Meters, Public Utilities
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