Bought with Andres Lopez • Marcus & Millichap
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245 E Okeefe ST East Palo Alto, CA 94303
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Key Details
Sold Price $5,280,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 21,526 sqft
Price per Sqft $245
MLS Listing ID ML81991256
Bedrooms 3
Full Baths 2
Year Built 1963
Lot Size 0.523 Acres
Property Sub-Type Five or More Units
Property Description
Adjacent to Menlo Park, to North and West. This amazing opportunity is tucked into a residential neighborhood just West of Hwy 101 and North of University Ave. This building consists of twenty-two units, 16:1x1 and 6: 2x1 units with 24 parking stalls. All residents have access to free Wi-Fi. There are approved plans for 550 new apartments as well as community center and park just down the street. This will greatly improve the neighborhood. Very few opportunities to purchase on the West side in East Palo Alto. Currently being sold in conjunction with 20 units at 201 E. O'Keefe and 20 units at 301 E. O'Keefe. Total of 62 units, 48, 1x1, 10, 2x1 and 4 Studios, total income for 245 OKeefe= $547976, Total Income for portfolio = $1,448,531 annually. All three buildings located within Federal designated opportunity zone.
Location
State CA
County San Mateo
Area West Of U.S. 101
Zoning R-I-U
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Exterior
Parking Features Carport
Community Features None
Utilities Available Individual Electric Meters, Individual Gas Meters
Roof Type Composition,Rolled Composition,Tar and Gravel
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Special Listing Condition Not Applicable
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