Bought with Bryan Danforth • Compass
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Key Details
Sold Price $3,125,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,303 sqft
Price per Sqft $1,356
MLS Listing ID ML82026224
Bedrooms 5
Full Baths 3
Half Baths 1
Year Built 1937
Lot Size 9,500 Sqft
Property Sub-Type Triplex
Property Description
INCREDIBLE DOWNTOWN PALO ALTO FULLY VACANT TRIPLEX! Extremely rare opportunity to acquire a fully vacant triplex in the heart of downtown Palo Alto. Ideal for investors that can immediately renovate and rent units at top market levels, or for owner-occupiers that can make one of the units their dream home while enjoying significant supplemental income from the other tenants. Excellent Unit Mix: (1) Two-Bedroom / One & 1/2 Bath, (1) Two-Bedroom / One Bath and (1) One-Bedroom / One-Bath. Two buildings strategically positioned on oversized 9,500 SF lot (large downtown parcel with favorable R4 zoning - redevelopment potential). Perfect ADU opportunity - garage has laundry room & bathroom ideal for easy ADU conversion. Two large storage sheds are wired with power to use as offices. Second floor 2x1 unit has attractive wrap-around balcony with beautiful views. Garage, driveway & rear alley parking. Irreplaceable location 2 blocks from University Avenue and all the high-end shopping, dining and entertainment amenities of downtown Palo Alto and 1/2 mile from Caltrain (90 "Walker's Paradise and 97 "Biker's Paradise"). Gorgeous mature landscaping throughout the entire property.
Location
State CA
County Santa Clara
Area Downtown Palo Alto
Zoning RM4
Interior
Heating Central Forced Air
Cooling Other
Exterior
Parking Features Detached Garage, Parking Area
Garage Spaces 2.0
Utilities Available Public Utilities
Roof Type Flat / Low Pitch
Building
Story 2
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Special Listing Condition Not Applicable
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NEARBY SCHOOLS & BUSINESSES
- 9
Juana Briones Elementary School
Public | KG - 5
- 9
Lucille M. Nixon Elementary School
Public | KG - 5
- 9
Fairmeadow Elementary School
Public | KG - 5
- 9
El Carmelo Elementary School
Public | KG - 5
- 9
La Entrada School
Public | 4 - 8
- 9
Oak Knoll School
Public | KG - 5
- 9
Ohlone Elementary School
Public | KG - 5
- 9
Walter Hays Elementary School
Public | KG - 5
- 8
Addison Elementary School
Public | KG - 5
- 8
Duveneck Elementary School
Public | KG - 5
- 8
Encinal School
Public | KG - 5
- 8
Laurel School
Public | KG - 5
- 7
Escondido Elementary School
Public | KG - 5
- 5
Barron Park Elementary School
Public | KG - 5
- 3
Taft Elementary School
Public | KG - 5
- 2
Brentwood Academy
Public | KG - 5
- 2
Garfield School
Public | PK - 8
- 2
Green Oaks Academy
Public | KG - 5
- 2
Costano School & 49ers Academy
Public | KG - 8
- 1
Packard Children's Hospital/Stanford
Public | KG - 12
- 9
Jane Lathrop Stanford Middle School
Public | 6 - 8
- 8
David Starr Jordan Middle School
Public | 6 - 8
- 8
Hillview Middle School
Public | 6 - 8
- 1
Ronald McNair Academy
Public | 6 - 8
- 1
Cesar Chavez Elementary School
Public | 6 - 8
- 0
Stanford Online High School
Private | 7 - 12
- 0
Frank Greene Middle School
Public | 6 - 8
- 0
Castilleja School
Private | 6 - 12
- 0
Eastside College Preparatory School
Private | 6 - 12
- 10
Palo Alto High School
Public | 9 - 12
- 7
Menlo - Atherton High School
Public | 9 - 12
- 0
East Palo Alto Academy
Public | 9 - 12
- 0
Sequoia Community Day
Public | 9 - 12
- 0
Aspire East Palo Alto Phoenix Academy
Public | 9 - 12
- 0
Everest Public High School
Public | 9 - 12
- 0
Mid-Peninsula High School
Private | 9 - 12
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