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660 Roble Ave 8 Unit Apartment Building $6,684,905 CAD ($835,613 CAD/Unit) 3.49% Cap Rate Menlo Park, CA 94025
INVESTMENT HIGHLIGHTS
- Invest in an eight-unit multifamily property with ADU potential and excellent occupancy history at 660 Roble Avenue.
- Ideal Silicon Valley location, minutes to Downtown Palo Alto and Downtown Menlo Park, Caltrain, and Stanford Shopping Center.
- Many upgrades, including new windows, roofs, softscape and hardscape, patio area, bicycle storage, and driveways.
- Tremendous curb appeal blended with desirable studio, one-bed, and two-bed floor plans, on-site storage, and covered parking.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire 660 Roble Avenue, an eight-unit multifamily property in Menlo Park. This is a tremendous opportunity for an investor to acquire a property not just in the heart of Silicon Valley but also in one of the most affluent communities in the United States.
The property sits on a 0.2-acre lot and has room for the addition of two accessory dwelling units (ADUs). Among the amenities are on-site laundry, individual carports for each unit, and ample street parking. The apartment complex's location is one of the most desired in Menlo Park, making it highly coveted by tenants.
Downtown Menlo Park is just a few blocks away, offering over 50 shops, restaurants, and services, including Draeger’s Market, Walgreens, and Amici’s East Coast Pizzeria. Residents are also a short drive away from Stanford Mall and Downtown Palo Alto. Residents have easy access to El Camino Real, which offers a direct route to most major cities in the South Bay and the Peninsula.
Menlo Park is a sought-after destination for investors and residents. It’s also one of the most valued cities, with the average median home price exceeding $3.6 million as of June 2025. The price, along with current interest rates and intense competition, places homeownership out of reach for most residents, creating a robust tenant base.
The property sits on a 0.2-acre lot and has room for the addition of two accessory dwelling units (ADUs). Among the amenities are on-site laundry, individual carports for each unit, and ample street parking. The apartment complex's location is one of the most desired in Menlo Park, making it highly coveted by tenants.
Downtown Menlo Park is just a few blocks away, offering over 50 shops, restaurants, and services, including Draeger’s Market, Walgreens, and Amici’s East Coast Pizzeria. Residents are also a short drive away from Stanford Mall and Downtown Palo Alto. Residents have easy access to El Camino Real, which offers a direct route to most major cities in the South Bay and the Peninsula.
Menlo Park is a sought-after destination for investors and residents. It’s also one of the most valued cities, with the average median home price exceeding $3.6 million as of June 2025. The price, along with current interest rates and intense competition, places homeownership out of reach for most residents, creating a robust tenant base.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$390,045
|
$74.72
|
| Other Income |
$20,101
|
$3.85
|
| Vacancy Loss |
$7,800
|
$1.49
|
| Effective Gross Income |
$402,346
|
$77.08
|
| Taxes |
$72,892
|
$13.96
|
| Operating Expenses |
$28,058
|
$5.38
|
| Total Expenses |
$100,950
|
$19.34
|
| Net Operating Income |
$301,396
|
$57.74
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $390,045 |
| Annual Per SF | $74.72 |
| Other Income (CAD) | |
|---|---|
| Annual | $20,101 |
| Annual Per SF | $3.85 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,800 |
| Annual Per SF | $1.49 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $402,346 |
| Annual Per SF | $77.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $72,892 |
| Annual Per SF | $13.96 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $28,058 |
| Annual Per SF | $5.38 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $100,950 |
| Annual Per SF | $19.34 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $301,396 |
| Annual Per SF | $57.74 |
PROPERTY FACTS
| Price | $6,684,905 CAD | Apartment Style | Garden |
| Price Per Unit | $835,613 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 3.49% | Building Size | 5,220 SF |
| Gross Rent Multiplier | 19.42 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Zoning | R3 | ||
| Price | $6,684,905 CAD |
| Price Per Unit | $835,613 CAD |
| Sale Type | Investment |
| Cap Rate | 3.49% |
| Gross Rent Multiplier | 19.42 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,220 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Stainless Steel Appliances
- Double Pane Windows
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Recycling
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | $3,483 CAD | - |
| 1+1 | 1 | $4,041 CAD | - |
| 2+1 | 1 | $5,158 CAD | - |
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (99)
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Octopus Japanese Restaurant | Asian | $$$ | 3 min walk |
| Jeffrey's Hamburgers | Burgers | $ | 3 min walk |
| Mountain Mike's Pizza | - | - | 4 min walk |
| The Mandarin | Chinese | $ | 4 min walk |
| Starbucks | Cafe | $ | 4 min walk |
| Philz Coffee | Cafe | $ | 7 min walk |
| Yogurt Stop | Ice Cream | $ | 6 min walk |
| McDonald's | - | - | 6 min walk |
| Cold Stone Creamery | - | - | 6 min walk |
| Round Table Pizza | - | - | 8 min walk |
RETAIL |
||
|---|---|---|
| Supercuts | Salon/Barber/Spa | 0 min walk |
| Charles Schwab | Finance Company | 2 min walk |
| BevMo! | Liquor | 3 min walk |
| CVS Pharmacy | Drug Store | 3 min walk |
| Big 5 Sporting Goods | Sporting Goods | 3 min walk |
| Unleashed by Petco | Animal Care/Groom | 4 min walk |
| Safeway | Supermarket | 4 min walk |
| barre3 | Fitness | 4 min walk |
| Trader Joe's | Supermarket | 7 min walk |
| The UPS Store | Business/Copy/Postal Services | 6 min walk |
HOTELS |
|
|---|---|
| Sheraton Hotel |
346 rooms
5 min drive
|
| Graduate Hotel |
100 rooms
5 min drive
|
| Westin |
184 rooms
5 min drive
|
| Holiday Inn Express |
62 rooms
9 min drive
|
| Autograph Collection |
250 rooms
10 min drive
|
| Four Seasons |
200 rooms
11 min drive
|
PROPERTY TAXES
| Parcel Number | 071-331-120 | Total Assessment | $2,623,499 CAD |
| Land Assessment | $1,393,169 CAD | Annual Taxes | $72,892 CAD ($13.96 CAD/SF) |
| Improvements Assessment | $1,230,330 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
071-331-120
Land Assessment
$1,393,169 CAD
Improvements Assessment
$1,230,330 CAD
Total Assessment
$2,623,499 CAD
Annual Taxes
$72,892 CAD ($13.96 CAD/SF)
Tax Year
2025
SALE ADVISOR
SALE ADVISOR
Michael Henshaw, Senior Managing Director Investments
Michael has been involved in Investment Real Estate Brokerage and ownership for the past 26 years since joining Marcus & Millichap in 1997. He was promoted to an Associate for the company within just one year's time, and was soon after promoted again to Senior Associate in October of 2000. His diligent hard work and absolute dedication to the satisfaction of all clients led to his promotion to Senior Investment Associate in 2004, and ultimately the title of Senior Vice President Investments by January 2016. Mike has utilized his underwriting and marketing expertise to successfully broker the sale of over 1.1 Billion in real estate investment properties nationwide. He is experienced in the sale and leasing of office, industrial, multi-family, NNN , triple net and retail properties. Michael is also involved in the ownership and management of several apartment complexes and mobile home parks.
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660 Roble Ave
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