Extensively Renovated
For Sale
$1,988,000
501 & 503 Pierce Road, Menlo Park, CA 94025
Each unit offers its own washer and dryer, one-car garage, and private backyard in a down-to-the-studs renovated duplex.
Days on Market60
Property Features for 501 & 503 Pierce Road
General Information
Standard status
Active
Property subtype
Duplex
Additional Details
Highway Access
Yes
Building Details
Building Size
2,884 SF
Year Built
1990
Year Renovated
2019
Tenancy
Multi
Listing Agency:
The Agency
(650) 823-5441
Listed By:
Tom Correia
(650) 823-5441
Source:
Johnpaye
Added: Jun 2
Changed: Jul 30
Last Checked: Jul 31 at 11:15AM
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 The Agency
Investment Insights
Based on property information with market context.
This extensively renovated duplex at 501–503 Pierce Road was brought down to the studs in 2019 with new electrical, plumbing, roofing, siding, sheetrock, kitchens, bathrooms, flooring, and upgraded heating systems. Built in 1990, the property is configured as two units, with each unit featuring its own washer/dryer, one-car garage, and private backyard, along with access to a spacious front yard.
The duplex is located in Menlo Park near downtown Menlo Park, Palo Alto, Stanford, Caltrain, Meta, and Sand Hill Road. It also provides convenient access to Hwy 101 and I-280, with shopping, restaurants, parks, and the Encinal/Oak Knoll area nearby. Hillview Middle School and Menlo-Atherton High School are also near the property (buyer to verify).
The layout supports flexible use for an owner-occupant, with the option to live in one unit while generating rental income from the other.
The duplex is located in Menlo Park near downtown Menlo Park, Palo Alto, Stanford, Caltrain, Meta, and Sand Hill Road. It also provides convenient access to Hwy 101 and I-280, with shopping, restaurants, parks, and the Encinal/Oak Knoll area nearby. Hillview Middle School and Menlo-Atherton High School are also near the property (buyer to verify).
The layout supports flexible use for an owner-occupant, with the option to live in one unit while generating rental income from the other.
Key Highlights
- 2019 down‑to‑the‑studs renovation with new electrical, plumbing, roofing, siding, and sheetrock
- New kitchens, bathrooms, flooring, and upgraded heating systems completed in 2019
- Two‑unit duplex with each unit having its own washer/dryer
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.0k | $44.40 |
| − Vacancy | −$8.3k | −$2.89 |
| EGI | $119.7k | $41.51 |
| − OpEx | −$35.9k | −$12.45 |
| NOI | $83.8k | $29.06 |
2,884 SF · lease $44.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,808 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$1.12M
$981.2K – $1.31M
NOI $78,494 @ 7.0% cap · market cap 3.95%
Theoretical Best
Warehouse
$2.29M
$2.00M – $2.67M
NOI $160,356 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
557
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit offers its own washer and dryer, one-car garage, and private backyard in a down-to-the-studs renovated duplex.
Where is this duplex located?
The property is located at 501 & 503 Pierce Road Menlo Park, CA.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: 2019 down‑to‑the‑studs renovation with new electrical, plumbing, roofing, siding, and sheetrock; New kitchens, bathrooms, flooring, and upgraded heating systems completed in 2019; Two‑unit duplex with each unit having its own washer/dryer
