NOT LISTED FOR SALE

402 Central Ave Menlo Park, CA 94025

The Willows Neighborhood

Estimated Value: $2,333,353 - $3,601,000

2 Beds
3 Baths
2,394 Sq Ft
$1,317/Sq Ft Est. Value

Last Sold January 17, 2014

Last sale price $1,225,000 $512 Per Sq Ft

Est. 157% increase in value since last sale

Current estimated payment $18,312/month

15 Days on Market

Highlights

  • Wood Flooring
  • Neighborhood Views
  • Baseboard Heating
  • Laurel Elementary School Rated A
  • Building Patio
  • Car Wash Area

About This Home

As of January 2014

Charming triplex, 2 separate buildings with 2 garages on a corner lot presents an excellent opportunity for an investor/owner for rental or remodel/rebuild as a SFR in Willows neighborhood. 2 Long term tenants(no rent control-please do not disturb tenants). Perfect location at Palo Alto border; easy access to freeway, walk to University Ave; close to Stanford University, Facebook, Google & HP.

Last Agent to Sell the Property

Diane Legate

Christie's Intl RE Sereno License #01002329 Listed on: 09/17/2013

Last Buyer's Agent

Richard Domich

Richard D. Domich, Broker License #00607998

Property Details

Home Type

  • Multi-Family

Year Built

  • 1928

Lot Details

  • 5,009

Home Design

  • Triplex
  • Tile Roof
  • Foam Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,394 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views
  • Oven or Range

Flooring

  • Wood
  • Wall to Wall Carpet
  • Laminate

Parking

  • Private Parking
  • Uncovered Parking
  • Off-Street Parking

Utilities

  • Baseboard Heating
  • Sewer Within 50 Feet

Additional Features

  • Energy-Efficient Insulation
  • Sprinkler System

Listing and Financial Details

  • Total Actual Rent $54,000
  • The owner pays for garbage, services - gardener/landscaping, water

Community Details

Overview

  • 3 Units
  • 2,394 Sq Ft Building
  • Car Wash Area

Amenities

  • Building Patio
  • Community Barbecue Grill

Building Details

  • Gardener Expense $100
  • Insurance Expense $4,156
  • Maintenance Expense $1,493
  • Trash Expense $714
  • Operating Expense $18,180
  • Gross Income $54,000

Property Details

Home Type

Multi-Family

Year Built

1928

Lot Details

0

Listing Details

  • Zoning: R1008
  • Subclass: Triplex
  • Inspections Reports: Flood Zone
  • Sale Price Per Sq Ft: 511.70
  • Listing Class: Residential Income (2-4 Units)
  • Max Numberof Unitsin Complex: 3
  • Min Numberof Unitsin Complex: 3
  • Structure Sq Ft: 2394
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1928

Interior Features

  • Kitchen: Oven Range, Refrigerator
  • Living Sq Ft: 2394
  • Stories: 2
  • Laundry: Laundry - No
  • Flooring: Carpet - Area, Hardwood - Partial, Laminate, Carpet - Wall To Wall, Carpet

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Tile, Foam
  • View: Local/Neighborhood
  • Yard/Grounds: Sprinklers - Lawn

Garage/Parking

  • Garage Parking Features: Private / Exclusive, Off-Street Parking, Uncovered Parking, Spaces Per Unit - <1

Utilities

  • Heating System: Baseboard
  • Sewer/Septic System: Sewer In Street, Sewer Connected

Condo/Co-op/Association

  • HOA Amenities: Patio - Common, Bbq Area, Car Wash Area

Association/Amenities

  • Amenities Miscellaneous: Storage Area(s)

Lot Info

  • Lot Location: Corner
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5000.00
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Max Search: 5000.00
  • Lot Size Area Min Search: 5000.00
  • Maximum Lot Size: 5000.00

Green Features

  • Energy Features: Insulation - Unknown

Rental Info

  • Existing Lease Term(s): 1 Year Lease
  • Gross Rent Multiplier: 20.37

Multi Family

  • Expense Insurance: 4156
  • Expense Landscape: 100
  • Expense Maintenance: 1493
  • Expenses Total: 18180
  • Expense Trash: 714
  • Expense Water Sewer: 750
  • Income Annual Gross: 54000.00
  • Income Annual Rental: 54000
  • Income Gross Scheduled: 54000
  • Income Includes: Lease
  • Maximum Building Height: 2
  • Meters: Separate Electric, Separate Gas
  • Minimum Building Height: 2
  • Number Of Buildings: 2
  • Operating Expenses Include: Services - Trash Removal, Services - Gardener, Utilities - Water, Insurance, Maintenance - Repair, Services - Sewer
  • Owner Pays: Garbage, Services - Gardener/Landscaping, Water
  • Tenant Expenses: Utilities - Gas, Cable Tv, Utilities - Electric

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 12, 2022
Sold by
Persimmon Trust
Bought by
Aalami Trust
Current Estimated Value
$3,151,784

Purchase Details

Closed on
Aug 24, 2021
Sold by
Aalami Bijan and Aalami Ingrid
Bought by
Aalami Bijan and Aalami Ingrid O

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$582,500
Interest Rate
2.2%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 15, 2014
Sold by
Aalami Bijan and Aalami Ingrid O
Bought by
The Persimmon Trust and Aalami Ingrid O

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$645,000
Interest Rate
3.81%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 11, 2014
Sold by
Aalami Bijan and Aalami Ingrid O
Bought by
Aalami Bijan and Aalami Ingrid O

Purchase Details

Listed on
Sep 17, 2013
Closed on
Jan 6, 2014
Sold by
Tong Raymond S and Tong Beverly Quan
Bought by
Aalami Bijan and Aalami Ingrid O
Seller's Agent
Diane Legate
Christie's Intl RE Sereno
Buyer's Agent
Richard Domich
Richard D. Domich, Broker
List Price
$1,100,000
Sold Price
$1,225,000
Premium/Discount to List
$125,000
11.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.17%
Original Mortgage
$796,250
Interest Rate
4.37%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 23, 2004
Sold by
Tong Raymond S and Tong Beverly Quan
Bought by
Tong Raymond S and Tong Beverly Quan

Purchase Details

Closed on
Jun 9, 2003
Sold by
Leick Shirley
Bought by
Tong Raymond S and Tong Beverly Quan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$479,200
Interest Rate
4.58%
Mortgage Type
Negative Amortization
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Aalami Trust -- Withers Bergman Llp
Aalami Bijan -- Wfg National Title Ins Co
Aalami Bijan -- Wfg National Title Ins Co
The Persimmon Trust -- Pacific Coast Title Company
Aalami Bijan -- Pacific Coast Title Company
Aalami Bijan -- None Available
Aalami Bijan $1,225,000 Chicago Title Company
Tong Raymond S -- --
Tong Raymond S $599,000 Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Aalami Bijan $582,500
Previous Owner Aalami Bijan $645,000
Previous Owner Aalami Bijan $796,250
Previous Owner Tong Raymond S $479,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/17/2014 01/17/14 Sold $1,225,000 +11.4% $512 / Sq Ft
10/02/2013 10/02/13 Pending -- -- --
09/17/2013 09/17/13 For Sale $1,100,000 -- $459 / Sq Ft
Source: MLSListings

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $22,960 $1,591,811 $1,273,449 $318,362
2023 $22,960 $1,530,000 $1,224,000 $306,000
2022 $21,239 $1,445,545 $1,299,550 $145,995
2021 $20,711 $1,417,203 $1,274,069 $143,134
2020 $20,517 $1,402,672 $1,261,005 $141,667
2019 $20,162 $1,375,170 $1,236,280 $138,890
2018 $19,269 $1,319,776 $1,212,040 $107,736
2017 $18,867 $1,293,899 $1,188,275 $105,624
2016 $18,267 $1,268,529 $1,164,976 $103,553
2015 $17,968 $1,249,475 $1,147,477 $101,998
2014 -- $707,699 $531,664 $176,035
Source: Public Records

Agents Affiliated with this Home

  • Diane Legate

    Seller's Agent in 2014

    Diane Legate

    Christie's Intl RE Sereno

    (925) 330-6855

    12 Total Sales

    Diane Legate
    Section Image

  • R

    Buyer's Agent in 2014

    Richard Domich

    Richard D. Domich, Broker

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Map

Source: MLSListings

MLS Number: ML81334478

MLSListings

APN: 062-366-020

California San Mateo County Menlo Park 94025 The Willows

402 Central Ave, Menlo Park, CA

Not Listed for Sale

MultiFamily

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