RealKey
‪(213) 433-7766‬

470 Willow Avenue, Half Moon Bay, California 94019, Half Moon Bay, 94019 - 7 bed, 4 bath

470 Willow Avenue, Half Moon Bay, California 94019 home-pic-0
ACTIVE$1,550,000
470 Willow Avenue, Half Moon Bay, California 94019
7Beds
4Baths
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
ML81990466
Home ConditionFair
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.55M(47th), sqft - 3065(82th), beds - 7(98th), baths - 4(82th).

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
01/15/25
Listing
$1,790,000
Condition Rating
Fair
Built in 1964, the property is aged but appears well-maintained externally. However, the interior, particularly the kitchen, features dated light wood cabinets, laminate-style countertops, white tile backsplash, and older white appliances. Flooring is a mix of dated tile, linoleum/vinyl, and some laminate. The description explicitly mentions an 'add-value opportunity to increase rents over time with higher-end interior renovations,' indicating that while functional, the interiors are not modern and require significant updates to meet current standards and maximize value. This aligns with a 'fair' condition, where the home is aged but maintained, with functional but outdated components.
Pros & Cons

Pros

Prime Coastal Location: Situated on the west side of Cabrillo Highway, offering exceptional walkability to beaches, the Coastal Trail, Historic Downtown Half Moon Bay, shopping, schools, and dining. Excellent access to Hwy 1 and 92, providing a convenient ~30-minute commute to San Francisco, SFO, and Silicon Valley.
Strong Investment Potential: This triplex provides reliable rental income from three units, making it an attractive asset for investors seeking immediate cash flow in a desirable market.
Significant Add-Value Opportunities: Explicit potential to increase rents through higher-end interior renovations and the strategic option to convert tuck-under parking into an Accessory Dwelling Unit (ADU), maximizing property utility and income.
Diverse Unit Mix: The property features a desirable unit mix of one large three-bedroom/two-bath unit and two two-bedroom/one-bath units, appealing to a broader range of tenants and optimizing rental income streams.
Tenant-Friendly Amenities: Includes private covered parking and on-site laundry facilities, which are highly valued amenities for tenants, enhancing the property's attractiveness and retention rates.

Cons

Building Age: Built in 1964, the property's age suggests that major systems (plumbing, electrical, roof) may be original or older, potentially requiring significant capital expenditures in the near future despite being 'well-maintained'.
Required Interior Upgrades for Max Value: While an 'add-value opportunity,' the description implies that current interiors are not 'higher-end' and will necessitate substantial investment in renovations to achieve top-tier rental rates and maximize property value.
Price Reduction History: The property's list price was reduced from $1.79M to $1.55M, which could indicate initial overpricing or market resistance, potentially signaling a longer time on market or a need for further adjustments if not sold promptly.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state