Ten-Unit Walk-Up Apartment
For Sale
$6,500,000
200 Waverley Street Menlo, Menlo Park, CA 94025
Ten-unit, two-story walk-up building with exterior unit entrances and enclosed parking.
Property Size13,139 SF
Lot Size0.29 Acres
Price / SF$494.71
Days on Market86
Property Features for 200 Waverley Street Menlo
General Information
Standard status
Active
Size
13,139 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
10
Amenities
Central Forced Air - Gas
Cooktop - Electric
Dishwasher
Exhaust Fan
Garbage Disposal
Hood Over Range
Oven - Electric
Oven Range
Natural Gas Available, Water - Public, Composition
Building Details
Year Built
1958
Stories
2
Tenancy
Multi
Listing Agency:
Alain Pinel Realtors
Listed By:
Gregory Terry · License #00957651
(650) 678-1110
Source:
Kw
Added: Jun 19
Changed: Sep 10
Last Checked: Sep 12 at 11:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alain Pinel Realtors
Investment Insights
Based on property information with market context.
This 10-unit multifamily apartment building was built in 1958 and is described as a two-story, “U” shaped structure in one contiguous building. The property is a walk-up style with exterior entrances to the units and a single enclosed parking area.
The unit mix is 8 one-bedroom, one-bath units and 2 two-bedroom, two-bath units. The two two-bedroom units were conjoined by the current owners at purchase and have been occupied by them since that time. The owner unit has been updated and renovated.
According to the provided data, the parcel size is 12,750 sf and the total building size is 13,139 sf. The property is located at 200 Waverley Street in Menlo Park, CA 94025.
The unit mix is 8 one-bedroom, one-bath units and 2 two-bedroom, two-bath units. The two two-bedroom units were conjoined by the current owners at purchase and have been occupied by them since that time. The owner unit has been updated and renovated.
According to the provided data, the parcel size is 12,750 sf and the total building size is 13,139 sf. The property is located at 200 Waverley Street in Menlo Park, CA 94025.
Key Highlights
- 10‑unit multifamily apartment building in Menlo Park (two‑story, “U” shaped, one contiguous building)
- Unit mix: 8 one bed/one bath units and 2 two bed/two bath units
- Walk‑up style with exterior entrances to units and a single enclosed parking area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$357,605
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,152,100
$7.2M
Cap Rate 7%
$5,108,643
$5.1M
Cap Rate 9%
$3,973,389
$4.0M
Market Conditions
NOI Build-Up for 13,139 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$685.9K $52.20/SF
− Vacancy
−$35.7K −$2.71/SF
EGI
$650.2K $49.49/SF
− OpEx
−$292.6K −$22.27/SF
NOI
$357.6K $27.22/SF
Area
San Mateo County, CA
Vacancy
5.20%
Lease Rate
$52.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$7,152,100
Cap Rate 7%
$5,108,643
Cap Rate 9%
$3,973,389
Alternative Uses
Best Use
Apartment 5plus
$5.11M
$4.47M – $5.96M
NOI $357,605 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.44M
$9.13M – $12.18M
NOI $730,552 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 94025, CA
42,354
Population
16,259
Households
2.6
Avg Household Size
39
Median Age
73%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
5,042
Density / Sq Mi
$215,871
Median Household Income
$98,160
Median Earnings
$3,169
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit, two-story walk-up building with exterior unit entrances and enclosed parking.
Where is this apartment building located?
The property is located at 200 Waverley Street Menlo Menlo Park, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: 10‑unit multifamily apartment building in Menlo Park (two‑story, “U” shaped, one contiguous building); Unit mix: 8 one bed/one bath units and 2 two bed/two bath units; Walk‑up style with exterior entrances to units and a single enclosed parking area
