NOT LISTED FOR SALE

550 Market Place Menlo Park, CA 94025

Belle Haven Neighborhood

Estimated Value: $1,601,000 - $2,692,000

6 Beds
3 Baths
3,118 Sq Ft
$620/Sq Ft Est. Value

Last Sold December 23, 2020

Last sale price $1,475,000 $473 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $12,308/month

139 Days on Market

Highlights

  • Contemporary Architecture
  • Ceiling Fan
  • 2-minute walk to Karl E Clark Park
  • Menlo-Atherton High School Rated A

About This Home

As of December 2020

GREAT OPPORTUNITY FOR THE SAVY INVESTOR!! BEST DEAL IN THE PENINSULA! Building is located in a desirable rental area and close to Facebook camps and Stanford University . This Building has lots of Capitola improvements and it has 3 large 2 bedrooms units totally renovated a little bet over a year with new kitchen with granite counters and stainless appliances, bathroom with ceramic tile, engineerings and elegant floors, new paint, windows and heatings and more. Plus it has 2 car spaces per unit and very low maintenance. Current rents $8,650 a month with 14.92 Gross Rent Multiplier..

Last Agent to Sell the Property

Hugo De Hoyos

Intero Real Estate Services License #01153534 Listed on: 06/23/2020

Intero Real Estate Services

Last Buyer's Agent

Hugo De Hoyos

Intero Real Estate Services License #01153534 Listed on: 06/23/2020

Intero Real Estate Services

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,284

Year Built

  • 1961

Lot Details

  • 6,229

Parking

  • 6 Car Garage
  • 3 Carport Spaces

Home Design

  • Triplex
  • Contemporary Architecture
  • Wood Frame Construction
  • Composition Roof

Interior Spaces

  • 3,118 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Washer and Dryer Hookup

Additional Features

  • 6,229 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $104,880

Community Details

Overview

Building Details

  • 3 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $1,200
  • Utility Expense $2,760
  • Trash Expense $1,284
  • Operating Expense $28,919
  • Gross Income $104,880

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,284

Year Built

1961

Lot Details

0

Parking

6

Listing Details

  • Zoning: R30000
  • Subclass: Triplex
  • Style: Contemporary
  • Age: 59
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3118
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1961

Interior Features

  • Living Sq Ft: 3118
  • Stories: 2
  • Laundry: Hookups Only

Exterior Features

  • Foundation: Wood Frame
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 6
  • Parking Spaces: 3
  • Garage Parking Features: Covered Parking, Parking Area
  • Carport Min: 3

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Acres: 0.1430
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6229.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6229.00

Rental Info

  • Gross Rent Multiplier: 14.67
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1200
  • Expense Landscape: 1200
  • Expenses Total: 28919
  • Expenses Utility: 2760
  • Expense Trash: 1284
  • Income Annual Gross: 104880.00
  • Income Annual Rental: 104880
  • Income Gross Scheduled: 104880
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Services - Gardener, Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 23, 2020
Closed on
Dec 18, 2020
Sold by
Vargas Andres Contreras and Gonzalez Maria Velazquez
Bought by
Kwan Ansen Anthony and Wu Yik Na
Seller's Agent
Hugo De Hoyos
Intero Real Estate Services
Buyer's Agent
Hugo De Hoyos
Intero Real Estate Services
List Price
$1,798,000
Sold Price
$1,475,000
Premium/Discount to List
-$323,000
-17.96%
Current Estimated Value
$1,932,883

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$457,883
Avg. Annual Appreciation
5.31%
Original Mortgage
$1,125,000
Outstanding Balance
$1,007,918
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$874,939

Purchase Details

Closed on
Jul 9, 2010
Sold by
Hsbc Bank Usa National Association
Bought by
Vargas Andres Contreras and Gonzalez Maria Velazquez

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$456,000
Interest Rate
4.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 11, 2010
Sold by
Contreras Pedro
Bought by
Hsbc Bank Usa National Association

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$456,000
Interest Rate
4.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 17, 2005
Sold by
Griscom Andrew
Bought by
Contreras Pedro

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$615,200
Interest Rate
6.99%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Sep 1, 1995
Sold by
Griscom Pamela
Bought by
Griscom Andrew
Source: Public Records

Range of Values:

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Average Value
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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
Kwan Ansen Anthony $1,475,000 Fidelity National Title Co
Vargas Andres Contreras $570,000 Ticor Title Insurance
Hsbc Bank Usa National Association $465,111 Accommodation
Contreras Pedro $769,000 Financial Title Company
Griscom Andrew -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kwan Ansen Anthony $1,125,000
Previous Owner Vargas Andres Contreras $600,000
Previous Owner Vargas Andres Contreras $456,000
Previous Owner Contreras Pedro $615,200
Previous Owner Griscom Andrew $411,000
Previous Owner Griscom Andrew $409,500
Closed Contreras Pedro $153,800
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/23/2020 12/23/20 Sold $1,475,000 -4.2% $473 / Sq Ft
11/10/2020 11/10/20 Pending -- -- --
11/02/2020 11/02/20 Price Changed $1,539,000 -0.6% $494 / Sq Ft
09/14/2020 09/14/20 Price Changed $1,549,000 -6.1% $497 / Sq Ft
08/01/2020 08/01/20 Price Changed $1,649,000 -8.3% $529 / Sq Ft
06/23/2020 06/23/20 For Sale $1,798,000 -- $577 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

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 $22,284 $1,596,585 $1,163,613 $432,972
2023 $22,284 $1,534,590 $1,118,430 $416,160
2022 $20,838 $1,504,500 $1,096,500 $408,000
2021 $20,426 $1,475,000 $1,075,000 $400,000
2020 $11,430 $667,732 $468,586 $199,146
2019 $11,294 $654,641 $459,399 $195,242
2018 $10,990 $641,806 $450,392 $191,414
2017 $10,547 $629,222 $441,561 $187,661
2016 $10,302 $616,885 $432,903 $183,982
2015 $10,009 $607,620 $426,401 $181,219
2014 $9,652 $595,719 $418,049 $177,670
Source: Public Records

Agents Affiliated with this Home

  • Hugo De Hoyos

    Seller's Agent in 2020

    Hugo De Hoyos

    Intero Real Estate Services

    (650) 931-8300

    1 in this area

    175 Total Sales

    Hugo De Hoyos
    Section Image
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Map

Source: MLSListings

MLS Number: ML81797856

MLSListings

APN: 062-016-020

California San Mateo County Menlo Park 94025 Belle Haven

550 Market Place, Menlo Park, CA

This home is located at 550 Market Place, Menlo Park, CA 94025 since 23 June 2020 and is currently estimated at $1,932,883, approximately $619 per square foot. This property was built in 1961. 550 Market Place is a home located in San Mateo County with nearby schools including Belle Haven Elementary School, Menlo-Atherton High School, and KIPP Valiant Community Prep.

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