I recently had the pleasure of closing on a listing in Menlo Commons, a senior community, located at 2140 Santa Cruz Ave in the lovely city of Menlo Park!
Menlo Commons is a 55+ community, meaning that at least one resident must be age 55 or older, but other residents can be any age. Residents enjoy plenty of features in the resort-like community space, with common areas including a large kitchen, a large formal dining or meeting room, an exercise room, plenty of lounge areas with large windows, grass fields, and a pool and hot tub, to name a few. Common areas, grounds, and resident parking are gated with ample open parking to residents and visitors. Units come in one to two bedroom floorplans, each with balconies, and Home Owners Association (HOA) Dues are appx $600-$760 per month for one and two bed units respectively.
What makes Menlo Commons really special is it’s fantastic location. This complex is stationed near the boarder of Menlo Park and Stanford with plenty of benefits to it’s location. Menlo Commons has easy access to both 280 and 82 and is tied into a bus route. Shopping and entertainment abound, with Stanford Golf Course about a block away, a Safeway less than half a mile away, Stanford Shopping Center about 1.5 miles down the road with downtown Menlo Park only a little farther. Living so close to the university makes it a snap to enjoy regular outings to enjoy musical, theatrical, and sports events.
Over the last 6 months or so, units have been selling between $690,000 and $910,000. Only one of these five sales was a single bed unit, and it was the only one which sold below list price. With over 120 units and showing 13 sales in the year 2017, most selling in under a month, there appears to be a slow but regular inventory of units available in Menlo Commons and a similar demand. Who wouldn’t want to live in a place with so much to offer!
Interested in the City of Menlo Park? View the market report, updated monthly, here: Menlo Park condo real estate market