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466 Willow Avenue, Half Moon Bay, California 94019, Half Moon Bay, - bed, bath

home-pic
ACTIVE$1,550,000
466 Willow Avenue, Half Moon Bay, California 94019
7Beds
4Baths
3,145Sqft
5,000Lot
Year Built
1965
Close
-
List price
$1.55M
Original List price
$1.79M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81990409
Home ConditionFair
Features
Good View:
View-

About this home

Exceptionally Well-Maintained Triplex on the Coast. Discover a fantastic investment property with this charming triplex nestled in the beautiful coastal community of Half Moon Bay. Located on the west side of the Cabrillo Highway, this property offers walkability to beaches, the Coastal Trail, Historic Downtown Half Moon Bay, shopping, schools, dining and more. Property Highlights include a Unit Mix of (1) Large Three-Bedroom / Two-Bath Unit & (2) Two-Bedroom / One-Bath Units, 3,145 sqft of living space, and a Lot Size of 5,000 sqft. Amenities include Private covered parking and on-site laundry. Investment Potential offered by that this triplex presents is an excellent add-value opportunity to increase rents over time with higher-end interior renovations and the potential to convert tuck-under parking to an ADU. Built in 1965, this multi-unit building is perfect for investors seeking reliable rental income. Enjoy all the outdoor activities Half Moon Bay has to offer, including hiking, surfing, golfing, horse-back riding, and more. Prime location with easy access to Hwy 1 and 92, making Bay Area commutes a breeze, and just ~30 minutes from San Francisco, SFO, and Silicon Valley. Seize this exceptional investment opportunity today!

Price History

Date
Event
Price
09/03/25
Price Change
$1,550,000
01/14/25
Listing
$1,790,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (46 Listings)
Beds74
98%
Baths43
81%
Square foot3,1452,370
83%
Lot Size5,0006,725
13%
Price$1.55M$1.7M
43%
Price per square foot$493$831
2%
Built year19651977
26%
HOA
Days on market295153
96%
Condition Rating
Fair
The property was built in 1965, making it nearly 60 years old. While described as 'Exceptionally Well-Maintained,' the listing explicitly states that 'higher-end interior renovations' are an 'add-value opportunity to increase rents.' This indicates that the interiors, including kitchens and bathrooms, are likely outdated and require substantial updates to meet modern standards and maximize value. The exterior appears maintained for its age, but the overall aesthetic is dated. Without interior photos, the age and the stated need for significant interior renovations place it in the 'Fair' category, suggesting it's functional but shows signs of being outdated and requires significant cosmetic and possibly system updates.
Pros & Cons

Pros

Prime Coastal Location: Situated in the desirable Half Moon Bay coastal community, offering exceptional walkability to beaches, the Coastal Trail, Historic Downtown, shopping, schools, and dining.
Strong Investment Potential: This triplex is presented as a fantastic investment property, offering reliable rental income and significant add-value opportunities through interior renovations and potential ADU conversion.
Diverse Unit Mix: The property features a desirable unit mix of one large 3-bedroom/2-bath unit and two 2-bedroom/1-bath units, catering to a broad tenant demographic.
Tenant-Friendly Amenities: Amenities such as private covered parking and on-site laundry enhance tenant appeal and convenience, contributing to higher occupancy rates.
Excellent Commuter Access: Prime location with easy access to Hwy 1 and 92, providing a convenient ~30-minute commute to San Francisco, SFO, and Silicon Valley, attracting a strong tenant pool.

Cons

Age of Property: Built in 1965, the property is older, which may necessitate significant capital expenditures for system upgrades, modernization, and ongoing maintenance to remain competitive.
Recent Price Reduction & Valuation Discrepancy: The property has undergone a substantial price reduction from $1.79M to $1.55M, and the current listing price remains slightly above the estimated value, potentially indicating market resistance or overvaluation.
Required Capital for Value-Add: While offering 'add-value opportunity,' achieving higher rents and maximizing potential requires 'higher-end interior renovations' and potential ADU conversion, demanding significant upfront investment and project management from the buyer.

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