Bought with Haneen Hayder • Compass
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Key Details
Sold Price $4,750,000
Property Type Commercial Multi-Residential (5 units)
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 6,442 sqft
Price per Sqft $737
MLS Listing ID ML82017965
Bedrooms 3
Full Baths 2
Year Built 1958
Lot Size 0.287 Acres
Property Sub-Type Five or More Units
Property Description
True trophy asset in irreplacable downtown Palo Alto location. Excellent Unit Mix: (6) Two-Bedroom / One-Bath & (2) One-Bedroom / One-Bath Units. Numerous recent upgrades including interior updates to at least half of the units with updated kitchen countertops and bathrooms. Beautiful pool and courtyard area. Solid in-place rents with plenty of upside potential through additional unit renovations. Forced Air Heating in every unit, many furnaces replaced in the past few years. Recent replacement of water heaters (2023+2025). All copper plumbing. New composition shingle roof installed in 2010. Garage parking for all tenants. Laundry facility on-site. Add 2 ADUs. Convert the garage parking into two new ADU units to add income and value. Incredible location in one of the most prestigious and supply-constrained submarkets of Silicon Valley walking distance to all the shopping, dining & entertainment amenities on University Avenue. The property benefits from its proximity to downtown Palo Alto, Stanford University, and top employers such as Google, Meta, and Palantir, making it highly attractive to both residents and investors. Demand for quality housing in this submarket remains consistently strong due to limited new development and exceptionally high barriers to entry.
Location
State CA
County Santa Clara
Area Downtown Palo Alto
Zoning R1
Interior
Heating Forced Air
Cooling None
Exterior
Parking Features Attached Garage, Tandem Parking
Garage Spaces 8.0
Pool Pool - In Ground
Utilities Available Public Utilities
Roof Type Composition
Building
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
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
Fair Oaks Community School
Public | KG - 8
- 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
- 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
- 9
Summit Preparatory Charter 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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