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29499979
29499980

315 E Okeefe St, East Palo Alto, CA 94303

DF
CA 01892947
Compass
Listed by Compass
$9,000,000
129 days on market
Updated 129 days ago

The Ardmore

Details
APN 063-442-350
Property Type Multifamily
Sub Type Apartment Building
Square Footage 33,095
Units 38
Cap Rate 4.99%
NOI $449,137
Price per SqFt $272
Broker Co-Op Yes
Class C
Year Built 62
Year Renovated 10
Acreage 0.880
Parking Spaces 1 per unit
Investment Type Stabilized
Ground Lease No

Multifamily | 4.99% CAP | 38 Units

Marketing description

Introducing The Ardmore, an impeccably maintained, 38 unit

apartment complex in East Palo Alto featuring a mix of one

and two bedroom units. The property easily attracts tenants,

sustaining low vacancy rates and predictable income.

The .88 acre lot includes gated entry and exit driveways,

leading to the lower parking level with 42 spaces. The

property is in outstanding condition, with many major

improvements completed recently including the roof, drainage,

water boiler and seismic retrofitting. Several units have

undergone recent renovations with new kitchens, bathrooms

and electrical sub-panels.

Amenities include a central pool with newly installed gate,

private balconies (recently inspected and compliant) and an

on-site laundry room which produces additional income.

Located west of Hwy 101 and north of University Ave, the

property is conveniently located near major employment,

retail and education hubs. Situated only 2 miles from Stanford

University, 2.5 miles from Meta headquarters and 5.5 miles to

Google headquarters, the complex is in the heart of the

bustling Silicon Valley corridor.

Investment highlights

Total of 38 apartments

22 one bed/one bath units ranging 684-847 sq.ft

16 two bed/one bath units ranging 859-1,102 sq.ft

Appx 25% updated or renovated units

Income producing laundry facility

New roof (2020)

Drainage and driveway paving (2021)

Hot water boiler (2017)

Building seismic retrofit (2007)

Listing Contacts

DF
CA 01892947
Compass
Listed by Compass

Valuation Calculator

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$449,137.00
$37,428.08/mo

Valuation Metrics

0
DSCR
4.99%
Cap Rate
4.99%
ROI

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Additional Information

Name
Dan Fitzpatrick
License
01892947
Brokerage
Compass
Brokerage Phone
9252820483
Title
Broker Associate
Brokerage Address
1699 Van Ness Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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