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$3,098,000
Est. payment /mo
3,540 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $875
MLS Listing ID ML82062178
HOA Y/N No
Year Built 1925
Lot Size 3,987 Sqft
Property Sub-Type Other
Property Description
This well-maintained 5-unit multifamily property offers investors a rare combination of in-place stability and proven upside in one of the Bay Area's most resilient rental submarkets. Located just a few blocks from University Avenue's dining, shops, and retail, this offers a desirable walk to downtown Palo Alto location. Built in 1925 and thoughtfully updated over time, including a new electrical panel, new HVAC systems in each unit. Every 1-bed unit has been nicely remodeled, with all units offering remodeled kitchens and baths, in-unit washer and dryer, and A/C. The unit mix consists of four spacious 1-bedroom/1-bath units and one studio, totaling 3,540 SF in the building. The property is occupied with excellent, well-qualified tenants, currently at under-market rents. All 5 units are nicely remodeled with great natural light and fabulous floor plans. Deep renter pool from nearby major employers and CalTrain accessibility. 2-car garage onsite, which could be rented for added income or converted to an ADU. Two additional driveway parking spots. This property can be purchased individually as a 5-unit multifamily property or as a combined 12-unit portfolio with the adjacent 4-plex at 311-317 Ramona Street and triplex at 270 Everett. Incredible opportunity!
Location
State CA
County Santa Clara
Zoning RM-3
Interior
Interior Features Updated Kitchen
Heating Electric, Wall Furnace
Flooring Laminate
Fireplace No
Appliance Dishwasher, Refrigerator
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 12025066
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Listed by Kelly Griggs • Coldwell Banker Realty
NEARBY SCHOOL & BUSINESS
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Eric & Janelle Boyenga
Realtors DRE01254724 / 01254725
Realtors DRE01254724 / 01254725