Coastal Triplex with Three-Car
For Sale
$1,390,000
470 Willow AVE, Half Moon Bay, CA 94019
Residential Income (2-4 units), HALF MOON BAY, CA
Property Size3,065 SF
Lot Size0.11 Acres
Price / SF$453.51
Days on Market92
Property Features for 470 Willow AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R30000
Bedrooms
7
Rooms
Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 4, Bedroom 6
Parking
2
Parking features
Carport
Subdivision
Pilarcitos Park
Standard status
Active
Size
3,065 SF
Lot size
0.11 Acres
Utilities
Heating system
Electric (Heating)
Water source
Public
Amenities
laundry facility
Building Details
Year built
1964
Number of units
3
Roof type
Composition
Listing Agency:
eXp Realty of California Inc
8885849427x119
Listed By:
Kristjan Higdon · License #01948080
(650) 303-1216
Added: Jul 20
Changed: Oct 17
Last Checked: Oct 19 at 12:06PM
MLS# ML82041052
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1964, this triplex contains 3,065 square feet with 7 bedrooms and 4 baths on a 5,000-square-foot lot. The property is fully occupied and includes three-car garage space, laundry facilities, electric heating, public water, and a composition roof.
Located at 470 Willow Ave in Half Moon Bay, the property sits west of Highway 1 and near beaches, the coastal trail, and downtown amenities. R30000 zoning supports its residential income property classification.
Located at 470 Willow Ave in Half Moon Bay, the property sits west of Highway 1 and near beaches, the coastal trail, and downtown amenities. R30000 zoning supports its residential income property classification.
Key Highlights
- 3,065‑square‑foot triplex with 7 bedrooms and 4 baths
- Fully occupied residential income property
- 5,000‑square‑foot lot west of Highway 1
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,068
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,781,360
$1.8M
Cap Rate 7%
$1,272,400
$1.3M
Cap Rate 9%
$989,644
$989.6K
Market Conditions
NOI Build-Up for 3,065 SF
Gross rent
$136.1K $44.40/SF
− Vacancy
−$8.8K −$2.89/SF
EGI
$127.2K $41.51/SF
− OpEx
−$38.2K −$12.45/SF
NOI
$89.1K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,781,360
Cap Rate 7%
$1,272,400
Cap Rate 9%
$989,644
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,068 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,420 @ 7.0% cap · market cap 6.00%
Theoretical Best
Warehouse
$2.43M
$2.13M – $2.84M
NOI $170,420 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 94019, CA
15,483
Population
5,849
Households
2.6
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
59.7 sq mi
ZIP Area
259
Density / Sq Mi
$153,272
Median Household Income
$72,042
Median Earnings
$1,977
Median Rent
$1,509,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property includes laundry facilities and covered parking.
Where is this triplex located?
The property is located at 470 Willow AVE Half Moon Bay, CA.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 3,065‑square‑foot triplex with 7 bedrooms and 4 baths; Fully occupied residential income property; 5,000‑square‑foot lot west of Highway 1
