245 East Okeefe Street

East Palo Alto, CA 94303

$5,535,000
Price
Beds
Baths
21,526 Sq. Ft.
$257 / Sq. Ft.
21,526
Sq. Ft.
$257
per Sq. Ft.

Description

Adjacent to Menlo Park, to North and West. This amazing opportunity is tucked into a residential neighborhood just West of Hwy 101 and North of University Ave. This building consists of twenty-two units, 16:1x1 and 6: 2x1 units with 24 parking stalls. All residents have access to free Wi-Fi. There are approved plans for 550 new apartments as well as community center and park just down the street. This will greatly improve the neighborhood. Very few opportunities to purchase on the West side in East...Adjacent to Menlo Park, to North and West. This amazing opportunity is tucked into a residential neighborhood just West of Hwy 101 and North of University Ave. This building consists of twenty-two units, 16:1x1 and 6: 2x1 units with 24 parking stalls. All residents have access to free Wi-Fi. There are approved plans for 550 new apartments as well as community center and park just down the street. This will greatly improve the neighborhood. Very few opportunities to purchase on the West side in East Palo Alto. Currently being sold in conjunction with 20 units at 201 E. O'Keefe and 20 units at 301 E. O'Keefe. Total of 62 units, 48, 1x1, 10, 2x1 and 4 Studios, total income for 245 OKeefe= $547976, Total Income for portfolio = $1,448,531 annually. All three buildings located within Federal designated opportunity zone.

Listing Agent

  1. Scott Kilpatrick

    Scott Kilpatrick

    Listing Agent

    Compass

    DRE #01271912

Property Details for 245 East Okeefe Street

MLS City Name
EAST PALO ALTO
Building Type
Other
Garage Spaces
0
Parking Spaces
4
Cross Street
Euclid
LISTING UPDATED: 01/22/2025 09:21 AM

Property Details for 245 East Okeefe Street

StatusActive
MLS #ML81991256
Days on Compass44
Taxes$73,950 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1963
Lot Size0.52 AC / 22,800 SF
CountySan Mateo County

Building Information for 245 East Okeefe Street

Stories-Residences-Year Built1963Building Size-Lot Size0.52 AC / 22,800 SF

Property Information for 245 East Okeefe Street

Features
Features
  • Fireplace: No
  • Living SqFt: 21526
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Window / Wall Unit
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 26
Garage
  • Garage and Parking: Carport
Property Details
Homeowners Association
  • HOA Amenities: None
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 22
  • Area Text: West of U.S. 101
  • Roof: Composition, Rolled Composition, Tar and Gravel
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 245
  • Street Name: Okeefe
  • Street Direction Prefix: East
  • Street Suffix: Street
  • Area ID: 321
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 21526
  • Structure SqFt Source: Assessor
  • Age: 62
Development Information
  • Ownership Type: Corporation
  • Zoning Detail: R-I-U
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 063-442-280
  • County Name: San Mateo
  • City Name: EAST PALO ALTO
  • City Postal ID: 16
  • Postal Code: 94303
  • Elementary School District: 934
  • High School District Text: Sequoia Union High
  • High School Text: Menlo-Atherton High
Lot Information
  • Foundation: Concrete Perimeter and Slab
  • Lot Acres: .52
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 17
General Information
  • Annual Tax Amount: $73,950
  • Capitalization Rate: 6.65
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Coin Operated Equip, Laundry, Rents, Other
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $16,000
  • Expense Landscape: $3,000
  • Expense Maintenance: $16,500
  • Expense Management: $31,892
  • Expense Trash: $17,661
  • Expenses Other: $22,620
  • Expenses Utility: $22,132
  • Expenses Total: $203,755
  • Operating Expenses Include: Fee - Property Management, Insurance, Maintenance, Maintenance - Exterminator, Maintenance - Laundry, Maintenance - Repair, Services - Gardener, Services - Janitor, Services - On-Site Manager, Services - Trash Removal, Utilities, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 9.68
  • Income Annual Gross: $571,556
  • Income Annual Rental: $547,976
  • Income Gross Scheduled: $571,556
  • Income Other: $23,580
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 0
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,252
Unit 2 Information
  • Unit 2 Approx Square Footage: 850
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 0
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $1,445
Unit Type 1
  • Unit Type1 Approx SqFt: 650

Property History for 245 East Okeefe Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 245 East Okeefe Street

Taxable ValueLand$4,224,529Additions$1,299,853Total$5,524,382
Tax Record2024$76,748 ($6,396 / month)
Home Facts
Baths2Total Finished SqFt21,526 SqFtAbove Grade Finished SqFt21,526 SqFtStories3Lot Size22,820 SqFtStyleMulti-Family Res (5+ Units)Year Built1963CountySAN MATEOAPN063-442-280

Schools near 245 East Okeefe Street

This home is within Ravenswood City Elementary School District.
Rating
School
Type
Grades
Distance
Charter - K to 8
Public - 9 to 12
Public - 6 to 8
Public - K to 5
Rating
School
Distance
KIPP Valiant Community Prep
CharterK to 8

Menlo-Atherton High School
Public9 to 12

Ravenswood Comprehensive Middle
Public6 to 8

Green Oaks Academy
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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245 East Okeefe Street is for sale in East Palo Alto, CA 94303. This property was listed for sale on January 22, 2025 by Compass, it's currently listed at $5,535,000. It has been on the market for a total of 44 days and was last sold on February 18, 2016. This listing's school districts are Ravenswood City Elementary School District, Sequoia Union High School District. Nearby schools include KIPP Valiant Community Prep, Menlo-Atherton High School and Ravenswood Comprehensive Middle. 245 East Okeefe Street is a 0-bed, 0-bath, 21,526 sqft built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Scott Kilpatrick, DRE #01271912

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.