NOT LISTED FOR SALE

616 Harvard Ave Menlo Park, CA 94025

Downtown Menlo Park Neighborhood

Estimated Value: $3,013,000 - $3,546,236

8 Beds
8 Baths
4,023 Sq Ft
$815/Sq Ft Est. Value

Sale Details

Date Sold: July 5, 2023

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

Est. 6% increase in value since last sale

Current estimated payment $21,125 / mo

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 18, 2023
Closed on
Jun 28, 2023
Sold by
Bought by
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
49
Current Estimated Value
$3,278,059

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$190,059
Avg. Annual Appreciation
2.02%
Original Mortgage
$2,470,400
Outstanding Balance
$2,391,762
Interest Rate
6.25%
Mortgage Type
New Conventional
Estimated Equity
$886,297

Purchase Details

Closed on
Mar 28, 2023
Sold by
Bought by

Purchase Details

Closed on
Jul 20, 2017
Sold by
Bought by
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,088,000 First American Title
-- None Listed On Document
-- None Listed On Document
-- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

    58 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

    7 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

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