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470 Willow Avenue, Half Moon Bay, California 94019, Half Moon Bay, 94019 - bed, bath

470 Willow Avenue, Half Moon Bay, California 94019 home-pic-0
ACTIVE$1,550,000
470 Willow Avenue, Half Moon Bay, California 94019
0Bed
0Bath
3,065Sqft
5,000Lot
Year Built
1964
Close
-
List price
$1.55M
Original List price
$1.79M
Price/Sqft
$506
HOA
-
Days on market
-
Sold On
-
MLS number
ML81988721
Home ConditionFair
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros.

Exceptionally Well-Maintained Triplex on the Coast. Discover a fantastic investment property with this charming triplex nestled in the beautiful coastal community of Half Moon Bay. Located on the west side of the Cabrillo Highway, this property offers walkability to beaches, the Coastal Trail, Historic Downtown Half Moon Bay, shopping, schools, dining and more. Property Highlights include a Unit Mix of (1) Large Three-Bedroom / Two-Bath Unit & (2) Two-Bedroom / One-Bath Units, 3,065 sqft of living space, and a Lot Size of 5,000 sqft. Amenities include Private covered parking and on-site laundry. The Investment Potential that this triplex presents is an excellent add-value opportunity to increase rents over time with higher-end interior renovations and the potential to convert tuck-under parking to an ADU. Built in 1964, this multi-unit building is perfect for investors seeking reliable rental income. Enjoy all the outdoor activities Half Moon Bay has to offer, including hiking, surfing, golfing, horse-back riding, and more. Prime location with easy access to Hwy 1 and 92, making Bay Area commutes a breeze, and just ~30 minutes from San Francisco, SFO, and Silicon Valley. Seize this exceptional investment opportunity today!

Price History

Date
Event
Price
09/03/25
Price Change
$1,550,000
01/14/25
Listing
$1,790,000
Condition Rating
Fair
Built in 1964, this triplex shows its age through its interior finishes. The kitchen features dated light wood cabinets, speckled laminate countertops, white appliances, and basic tile backsplash and flooring. Bathrooms also appear significantly outdated with older vanities and flooring. While the property is described as 'exceptionally well-maintained,' the listing explicitly notes an 'add-value opportunity to increase rents over time with higher-end interior renovations,' confirming that the current interior, particularly the kitchen and bathrooms, is functional but aesthetically and functionally obsolete, requiring substantial updates to meet modern standards.
Pros & Cons

Pros

Prime Coastal Location: Highly desirable Half Moon Bay location, west of Cabrillo Highway, offering exceptional walkability to beaches, the Coastal Trail, Historic Downtown, shopping, and dining.
Strong Investment Potential: As a triplex, it provides reliable rental income and significant add-value opportunities through higher-end interior renovations and potential ADU conversion of tuck-under parking.
Diverse Unit Mix: The property features a desirable unit mix of one large 3-bedroom/2-bath unit and two 2-bedroom/1-bath units, appealing to a broad tenant base.
Excellent Regional Accessibility: Convenient access to major highways (Hwy 1 and 92) ensures easy commutes to San Francisco, SFO, and Silicon Valley, enhancing tenant appeal.
Tenant-Friendly Amenities: Includes private covered parking and on-site laundry facilities, which are highly valued amenities for tenants and contribute to property desirability.

Cons

Age of Construction: Built in 1964, the property is over 50 years old, which may imply the need for future capital expenditures for system updates or major renovations despite being well-maintained.
Required Capital for Value-Add: Maximizing rental income and investment potential explicitly requires 'higher-end interior renovations,' indicating a substantial additional capital investment beyond the purchase price.
Recent Price Adjustment: The property has undergone a significant price reduction from its original listing of $1.79M to $1.55M, which could suggest a longer market time or initial overpricing.

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