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

home-pic
ACTIVE$1,550,000
470 Willow Avenue, Half Moon Bay, California 94019
7Beds
4Baths
3,065Sqft
5,000Lot
Year Built
1964
Close
-
List price
$1.55M
Original List price
$1.79M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
ML81990466
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, 3,065 sqft of living space, and a Lot Size of 5,000 sqft. Amenities include Private covered parking and on-site laundry. The Investment Potential 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 1964, 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
01/15/25
Listing
$1,790,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (46 Listings)
Beds74
98%
Baths43
81%
Square foot3,0652,370
81%
Lot Size5,0006,725
13%
Price$1.55M$1.7M
43%
Price per square foot$506$831
2%
Built year19641977
26%
HOA
Days on market293152
96%
Condition Rating
Fair
Built in 1964, this triplex is described as 'exceptionally well-maintained,' which is evident in the images showing clean and functional spaces. However, the interiors, particularly the kitchens and bathrooms, are significantly outdated. The kitchens feature older white appliances, light wood cabinets, speckled laminate countertops, and basic white tile backsplashes. Bathrooms have older vanities, basic fixtures, and dated tile surrounds. Flooring is a mix of hardwood-style laminate, older tile, and carpet. The light fixtures are basic flush mounts throughout. The listing description itself points to an 'add-value opportunity to increase rents over time with higher-end interior renovations,' confirming that the current interiors are not recently updated. While the property is functional and appears to have been regularly maintained, its major components show clear signs of being outdated, aligning with the 'fair' condition criteria.
Pros & Cons

Pros

Prime Coastal Location: Situated on the desirable west side of Cabrillo Highway in Half Moon Bay, offering exceptional walkability to beaches, the Coastal Trail, Historic Downtown, shopping, and dining.
Strong Investment & Add-Value Potential: A well-maintained triplex presenting a clear opportunity for increased rental income through higher-end interior renovations and the potential to convert tuck-under parking to an ADU.
Excellent Commuter Accessibility: Convenient access to Highways 1 and 92, facilitating easy commutes to San Francisco, SFO, and Silicon Valley within approximately 30 minutes.
Diverse Unit Mix: Features a desirable unit mix of one large three-bedroom/two-bath unit and two two-bedroom/one-bath units, appealing to a broad tenant base.
On-Site Tenant Amenities: Includes private covered parking and on-site laundry facilities, enhancing tenant convenience and property appeal.

Cons

Building Age & Renovation Needs: Built in 1964, the property may require significant capital investment for interior renovations to achieve market-leading rents and modernize systems.
Limited Lot Size: The 5,000 sqft lot size for a triplex may offer limited private outdoor space per unit, which could be a consideration for some tenants.
Initial Overpricing Indication: The property experienced a significant price reduction from its original list price, suggesting it may have been initially overpriced or faced market resistance.

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