933 FLORENCE LN Menlo Park CA 94025-4921

933 Florence Ln is a wonderful four-unit apartment complex located in the heart of Downtown Menlo Park, just a few blocks away from lively shops and restaurants. Its close proximity to Stanford University, major technology companies, venture capital firms, and multiple transportation options makes it, arguably, the most prestigious apartment location in

Silicon Valley. Many of the current and previous tenants have been Stanford Medical Doctors and other graduate students. The property's high walkability and location quality ensure minimal vacancy and the ability to command premium rents.

933 Florence Lane features a superior unit consisting of four two-bedroom/two-bathroom units, with each unit having a private outdoor space. Units C and D have large outdoor patios, and units A and B have private backyards. Unit B has a large deck and a redwood tree, and Unit A has a storage and private laundry room in addition to the backyard, which can be accessed through the backyard. Each tenant has a one-car garage and an additional tandem parking space in the driveway.

The property has never sold, and the current ownership has meticulously maintained the property during its over six-decade tenure. Recent capital improvements include electrical service with new main and sub-panels, replacement of the entire fresh water plumbing system with copper piping, dual pane windows, and exterior paint. 933 Florence Lane offers the new owner the opportunity to increase income and add further value by upgrading the existing unit interiors to meet the demand of high-income technology employees by installing air conditioners, electric car chargers, in-unit laundry, and fully renovating the unit interiors with luxury finishes.

Additionally, California Senate Bill 1211, effective January 2025, allows fourplex owners in Menlo Park to build up to 4 detached ADUs with each ADU measuring up to 1,000 square feet and 16-17 feet in height. Garages can be converted into standard ADUs without requiring replacement parking. This optionality allows an investor to add ADUs to the existing footprint of the building.

Downtown Menlo Park is located 4 and a half blocks away from 933 Florence Lane and offers a wide range of restaurants, services, numerous boutiques, and coffee shops. Among these is Draeger's Market, an upscale gourmet grocery store. The property is 1.6 miles from Stanford Shopping Center, Northern California's premier open-air shopping and dining destination, and features 140 stores, ranging from luxury brands to local favorites, as well as an excellent mix of restaurants and cafes.

The property is situated 1.5 miles from Stanford University. Nearby is Sand Hill Road, known globally as the "Capital of Venture Capital," with a high concentration of venture capital firms. Meta's headquarters are located less than 4 miles away. Stanford Hospital is 2.4 miles away, providing world-renowned healthcare services nearby. The subject property is located within walking distance of the Menlo Park Caltrain Station.

The strong rent growth, shortage of housing units, proximity to world-class employers and education, and ADU potential make 933 Florence Lane a great opportunity for both the cash flow and appreciation-minded investor.

Property Highlights

• First time ever on the market! The current owner built the property in 1964.

• Rarely Available Downtown Menlo Park Fourplex One Block From Downtown Menlo Park Shops and Restaurants

• Generational Pride Of Ownership Asset In One Of Silicon Valley's Most Prestigious Locations.

• Close proximity to Stanford University (1.5 miles), Stanford Shopping Center (1.6 miles), Stanford Hospital (2.4 miles)

• Downtown Palo Alto (2.8 miles), and Facebook Headquarters (4.5 miles).

• Superior Unit Mix- All units feature 2-Bed/2-Bath Units with private outdoor space

• Close proximity to Stanford University (1.5 miles), Stanford Shopping Center (1.6 miles), Stanford Hospital (2.4 miles)

  Downtown Palo Alto (2.8 miles), and Facebook Headquarters (4.5 miles).

• Upgrades include upgraded electrical panels, dual-pane windows, copper fresh water pipe, painted exterior, etc