1001 El Camino Real, Menlo Park, California 94025, Menlo Park, 94025 - bed, bath
ACTIVE$3,710,000
1001 El Camino Real, Menlo Park, California 94025
0Bed
0Bath
4,905Sqft
3,049Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Mixed-Use Location: Situated on El Camino Real in highly desirable Menlo Park with an excellent Walk Score of 90+, offering high visibility and accessibility for both commercial and residential tenants.
Top Cons:
Building Age & Potential Upgrades: Constructed in 1923, the property's age may imply potential for older infrastructure (e.g., plumbing, electrical, roof) that could require significant capital expenditures in the future, despite residential remodels.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1923 (102 years old).
Condition: The property was built in 1923, but the MLS description explicitly states the residential units are 'nicely remodeled.' Images confirm this, showing updated laminate wood flooring and fresh paint in the living areas. The kitchen features updated white cabinets and countertops, though the appliances are older white models and the flooring is dated linoleum. While not a full high-end renovation, the units appear move-in ready and well-maintained, consistent with a 'Good' condition score. The presence of a wall heater and a portable AC unit suggests no central HVAC, which is common for older, remodeled multi-unit properties.
Year Built
1923
Close
-
List price
$3.71M
Original List price
$3.9M
Price/Sqft
$756
HOA
-
Days on market
-
Sold On
-
MLS number
ML81984239
Home ConditionGood
Features
View-
About this home
SELLER FINANCING to Qualified Buyer. Quality "mixed use" property on El Camino Real! (5 units total) Downstairs there is a Mtn. Mike's Pizza with a secure 15 year lease with (2) five year options. Upstairs there are (4) quality residential units (nicely remodeled) with long term tenants. Top location in Menlo Park with secure income stream from the net lease from Mtn. Mike's Pizza and and (4) residential apartments that provide secure income along with a hedge against inflation. Walk Score is 90+. No parking needed for residential tenants. All tenants walk or ride bike to local jobs. This is a Commercial Leased property with res. units as a bonu Call listing agent for full cash flow analysis.
Condition Rating
Good
The property was built in 1923, but the MLS description explicitly states the residential units are 'nicely remodeled.' Images confirm this, showing updated laminate wood flooring and fresh paint in the living areas. The kitchen features updated white cabinets and countertops, though the appliances are older white models and the flooring is dated linoleum. While not a full high-end renovation, the units appear move-in ready and well-maintained, consistent with a 'Good' condition score. The presence of a wall heater and a portable AC unit suggests no central HVAC, which is common for older, remodeled multi-unit properties.
Pros & Cons
Pros
Prime Mixed-Use Location: Situated on El Camino Real in highly desirable Menlo Park with an excellent Walk Score of 90+, offering high visibility and accessibility for both commercial and residential tenants.
Stable & Diversified Income Stream: Features a secure 15-year net lease with Mtn. Mike's Pizza (plus options) and four nicely remodeled residential units with long-term tenants, providing consistent and diversified cash flow.
Long-Term Commercial Lease: The anchor commercial tenant, Mtn. Mike's Pizza, has a robust 15-year lease with two 5-year options, ensuring a predictable and extended period of commercial income.
Remodeled Residential Units: The four upstairs residential units have been 'nicely remodeled,' enhancing tenant satisfaction, retention, and the overall appeal and value of the residential component.
Seller Financing Option: The availability of seller financing for qualified buyers can significantly broaden the pool of potential investors and facilitate a smoother transaction.
Cons
Building Age & Potential Upgrades: Constructed in 1923, the property's age may imply potential for older infrastructure (e.g., plumbing, electrical, roof) that could require significant capital expenditures in the future, despite residential remodels.
Limited On-Site Parking: While walkability is high, the description suggests a lack of dedicated parking for residential tenants and potentially limited parking for commercial customers, which could be a practical inconvenience.
Tenant Concentration Risk: A significant portion of the property's income is tied to a single commercial tenant (Mtn. Mike's Pizza) and four residential units, meaning a vacancy or non-renewal could notably impact cash flow.