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Listed by David O'such • Cornish & Carey Commercial, DRE#01033820
$3,450,000
Est. payment /mo
1.5 Baths
2,570 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiple Dwellings / Structures
Listing Status Active
Purchase Type For Sale
Square Footage 2,570 sqft
Price per Sqft $1,342
MLS Listing ID ML82064622
Half Baths 3
Year Built 1900
Lot Size 4,895 Sqft
Property Sub-Type Multiple Dwellings / Structures
Property Description
Located in downtown Palo Alto, this mixed-use property is zoned CD-C(P) which allows for the second floor to be converted into residential. Ground floor is 2,570 square feet and leased to one office tenant and one retail tenant. Take advantage of up to 2,500 bonus square feet completing a historical upgrade to the building and use the bonus square footage to build out a residential unit on the second floor. The property is served by the Palo Alto Unified elementary school district. The building features central forced air heating and central air conditioning for year-round comfort. Notably, there is an exclusive parking area behind the building for 7 on site parking stalls. This property provides a value add opportunity for an investor interested in expanding the square footage of the property with a second floor residential unit, improving the ground floor rental rate with fresh cosmetic renovations.
Location
State CA
County Santa Clara
Area Downtown Palo Alto
Zoning CDC(P)
Interior
Heating Central Forced Air
Cooling Central AC
Exterior
Parking Features Assigned Spaces, Tandem Parking
Utilities Available Public Utilities
Roof Type Composition
Building
Story 2
Foundation Unreinforced Masonry
Sewer Sewer - Public
Water Public
Level or Stories 2
Others
Tax ID 120-15-082
Security Features Security Alarm ,Security Service
Horse Property No
Special Listing Condition Not Applicable
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