NOT LISTED FOR SALE

616 Harvard Ave Menlo Park, CA 94025

Downtown Menlo Park Neighborhood

Estimated Value: $2,979,000 - $3,320,000

8 Beds
8 Baths
4,023 Sq Ft
$792/Sq Ft Est. Value

Last Sold July 05, 2023

Last sale price $3,088,000 $768 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $20,170/month

22 Days on Market

Highlights

  • Laundry Room
  • Tile Flooring
  • Washer and Dryer
  • Oak Knoll Elementary School Rated A
  • Forced Air Heating System

About This Home

As of July 2023

Location! Location! Location. Four (4) Town-House Style Rental Units. Minutes (walkable per residents) to shops, restaurants, cafes and grocery stores of Downtown Menlo Park, Palo Alto and Stanford Shopping Center. Desirable two-story 2-Bedroom/1.5-Bathroom town-house style units. Over 1,000+ sqft in size. Lots of storage and natural light. Central forced heat in each unit. Private laundry/dryer room onsite. Large backyards/patios for each unit. New roofs (2017). Detached carports with storage rooms. Significant upside in rents. **Contact listing agents for a detailed sales brochure and photo gallery** ** OPEN HOUSE ** Wednesday (5/24/23) from 1:00pm - 2:30pm - FOR THOSE WHO CONFIRM ATTENDANCE WITH LISTING AGENTS.

Last Agent to Sell the Property

Nathan Gustavson

Compass License #01898316 Listed on: 05/18/2023

Compass

Co-Listed By

Cameron Foster

Compass License #00972394

Last Buyer's Agent

Shirley Chu

Goodview Financial & Real Estate License #02092510

Goodview Financial & Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • 1963

Lot Details

  • 8,407

Home Design

  • Quadruplex
  • Slab Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 4,023 Sq Ft Home
  • 2-Story Property

Kitchen

  • Electric Cooktop
  • Microwave
  • Dishwasher

Flooring

  • Carpet
  • Laminate
  • Tile

Laundry

  • Laundry Room
  • Washer and Dryer

Parking

  • 4 Parking Spaces
  • 4 Carport Spaces
  • Lighted Parking
  • Assigned Parking

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $146,400
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $1,080
  • Insurance Expense $3,350
  • Maintenance Expense $5,084
  • Other Expense $732
  • Utility Expense $6,466
  • Trash Expense $5,203
  • Operating Expense $62,969
  • Gross Income $143,472

Property Details

Home Type

Multi-Family

Year Built

1963

Lot Details

8,407 Sq Ft Lot

Listing Details

  • Zoning: Multi-Residential
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4023
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1963

Interior Features

  • Kitchen: Cooktop - Electric, Dishwasher, Microwave, Pantry, Refrigerator
  • Living Sq Ft: 4023
  • Stories: 2
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Laminate, Tile
  • Additional Rooms: Laundry Room

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Composition, Shingle
  • Construction Type: Wood Frame

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Assigned Spaces, Covered Parking, Lighted Parking Area
  • Carport Min: 4

Utilities

  • Heating System: Central Forced Air
  • Sewer/Septic System: Sewer - Public, Sewer Connected

Lot Info

  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8400.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8400.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 21.50
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 3350
  • Expense Landscape: 1080
  • Expense Maintenance: 5084
  • Expenses Other: 732
  • Expenses Total: 62969
  • Expenses Utility: 6466
  • Expense Trash: 5203
  • Income Annual Gross: 143472.00
  • Income Annual Rental: 146400
  • Income Gross Scheduled: 146400
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Services - Gardener, Services - Sewer, Utilities - Electric, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 18, 2023
Closed on
Jun 28, 2023
Sold by
Heffernan And Whitehouse Charitable Rema and Emh-Mjw Stanford Charitable Remainder Un
Bought by
Ye Chuan and Liu Sing
Seller's Agent
Nathan Gustavson
Compass
Buyer's Agent
Shirley Chu
Goodview Financial & Real Estate
List Price
$3,148,000
Sold Price
$3,088,000
Premium/Discount to List
-$60,000
-1.91%
Views
52
Current Estimated Value
$3,184,288

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$96,288
Avg. Annual Appreciation
1.13%
Original Mortgage
$2,470,400
Outstanding Balance
$2,391,762
Interest Rate
6.25%
Mortgage Type
New Conventional
Estimated Equity
$792,526

Purchase Details

Closed on
Mar 28, 2023
Sold by
Whitehouse Heffernan E and Whitehouse Martha Jo
Bought by
Heffernan And Whitehouse Charitable Remainder and Emh-Mjw Stanford Charitable Remainder Unitrus

Purchase Details

Closed on
Jul 20, 2017
Sold by
Heffernan E Michael
Bought by
Heffernan Michael and Whitehouse Martha Jo
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Ye Chuan $3,088,000 First American Title
Heffernan And Whitehouse Charitable Remainder -- None Listed On Document
Whitehouse Heffernan E -- None Listed On Document
Heffernan Michael -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ye Chuan $2,470,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/05/2023 07/05/23 Sold $3,088,000 -1.9% $768 / Sq Ft
06/10/2023 06/10/23 Pending -- -- --
05/18/2023 05/18/23 For Sale $3,148,000 -- $783 / 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 $41,044 $3,149,760 $2,244,000 $905,760
2023 $41,044 $421,299 $126,380 $294,919
2022 $11,432 $413,039 $123,902 $289,137
2021 $11,030 $404,941 $121,473 $283,468
2020 $10,838 $400,790 $120,228 $280,562
2019 $10,573 $392,932 $117,871 $275,061
2018 $10,195 $385,228 $115,560 $269,668
2017 $9,864 $377,676 $113,295 $264,381
2016 $9,420 $370,272 $111,074 $259,198
2015 $9,127 $364,711 $109,406 $255,305
2014 $8,730 $357,567 $107,263 $250,304
Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2023

    Nathan Gustavson

    Compass

    (415) 874-5000

    1 in this area

    57 Total Sales

    Nathan Gustavson
    Section Image

  • C

    Seller Co-Listing Agent in 2023

    Cameron Foster

    Compass

    (650) 548-9660

    1 in this area

    37 Total Sales

    Cameron Foster
    Section Image

  • S

    Buyer's Agent in 2023

    Shirley Chu

    Goodview Financial & Real Estate

    (408) 621-9920

    1 in this area

    8 Total Sales

    Shirley Chu
    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81928779

MLSListings

APN: 071-433-160

California San Mateo County Menlo Park 94025 Downtown Menlo Park

616 Harvard Ave, Menlo Park, CA

Not Listed for Sale

MultiFamily

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