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466 Willow Ave, Half Moon Bay, Ca 94019 466 Willow Ave 3 Unit Apartment Building $1,550,000 ($516,667/Unit) 4.07% Cap Rate Half Moon Bay, CA 94019
INVESTMENT HIGHLIGHTS
- West of Highway 1, within walking, biking distance to beaches, Coastal Trail, Historic Downtown Half Moon Bay, Shopping, Restaurants, Parks, Schools
- Value Add Opportunity
- Exceptionally well maintained asset
- Low Vacancy Rate Market
EXECUTIVE SUMMARY
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, 3,145 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 1965, 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!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$95,280
|
$13.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$95,280
|
$13.27
|
| Taxes |
$20,472
|
$2.85
|
| Operating Expenses |
$11,695
|
$1.63
|
| Total Expenses |
$32,167
|
$4.48
|
| Net Operating Income |
$63,113
|
$8.79
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $95,280 |
| Annual Per SF | $13.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $95,280 |
| Annual Per SF | $13.27 |
| Taxes | |
|---|---|
| Annual | $20,472 |
| Annual Per SF | $2.85 |
| Operating Expenses | |
|---|---|
| Annual | $11,695 |
| Annual Per SF | $1.63 |
| Total Expenses | |
|---|---|
| Annual | $32,167 |
| Annual Per SF | $4.48 |
| Net Operating Income | |
|---|---|
| Annual | $63,113 |
| Annual Per SF | $8.79 |
PROPERTY FACTS
| Price | $1,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $516,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.07% | Building Size | 7,180 SF |
| Gross Rent Multiplier | 17.8 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 0.7/1,000 SF |
| Zoning | R3 - R3- Multifamily. R-3, Multifamily Residential Zoning District | ||
| Price | $1,550,000 |
| Price Per Unit | $516,667 |
| Sale Type | Investment |
| Cap Rate | 4.07% |
| Gross Rent Multiplier | 17.8 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 7,180 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.7/1,000 SF |
| Zoning | R3 - R3- Multifamily. R-3, Multifamily Residential Zoning District |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $2,678 | - |
| 2+1 | 2 | $2,538 | - |
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (82)
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466 Willow Ave, Half Moon Bay, Ca 94019 | 466 Willow Ave
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