472 Waverley StMenlo Park, CA 94025

Property Details for 472 Waverley St

Year built

1952

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents two adjacent, identical triplexes in Menlo Park, California, totaling six units and 6,842 square feet of net rentable space. Each triplex features two spacious two-bedroom/one-bathroom units and one one-bedroom/one-bathroom unit, offering a desirable unit mix. The rear units in each building are designed as owner's units, boasting oversized layouts with dedicated dining areas, fireplaces, hardwood floors, French doors, and large private backyards. All units include in-unit laundry. Each unit comes with one tuck-under parking space, with potential for additional parking. Built in 1952, these Class C buildings sit on a combined 13,200 square foot lot and are currently 100% occupied. The asking price is $5,300,000 ($883,333.33 per unit). Located less than a mile from downtown Menlo Park and Palo Alto, this property benefits from a highly desirable location with a "Biker's Paradise" score of 100 and proximity to prestigious Menlo Park schools. The property offers significant value-add potential through interior renovations and the possible conversion of tuck-under parking to accessory dwelling units (ADUs), allowing for increased rental income over time. This is a rare opportunity to acquire two adjacent properties, offering flexibility to purchase individually or as a combined portfolio. The properties are located at 462 and 472 Waverley Street, Menlo Park, CA 94025, APN 062-405-090 & 062-405-100.

Location Insight

City

Menlo Park

County

San Mateo

State

California

Latitude

37.4511

Longitude

-122.175

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