21
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$5,280,000
$5,535,000 4.6%
Est. payment /mo
0.52 Acres Lot
Sold on 04/18/2025
245 E Okeefe ST East Palo Alto, CA 94303
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Key Details
Sold Price $5,280,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81991256
Year Built 1963
Annual Tax Amount $73,950
Lot Size 0.523 Acres
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 699 - Not Defined
Zoning R-I-U
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Exterior
Roof Type Composition,Tar/Gravel
Building
Water Public
Schools
High Schools Menlo-Atherton
School District Other
Others
Special Listing Condition Standard
Listed by Scott Kilpatrick • Compass
Bought with Andres Lopez • Marcus & Millichap
Bought with Andres Lopez • Marcus & Millichap
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