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$11,000,000
Est. payment /mo
12,830 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,830 sqft
Price per Sqft $857
MLS Listing ID ML82056815
HOA Y/N No
Year Built 1961
Lot Size 0.402 Acres
Property Sub-Type Other
Property Description
* Nestled in the heart of Downtown Palo Alto University South, one of Palo Altos most desirable neighborhood and a few minutes away from Palo Alto CALTrain station. * The property presents a rare opportunity to own a 14-unit multi-family property offering both strong income and long-term growth potential. * Built in 1961 on an expansive 17,500 sqft (0.40 acre) lot, this 2-story building features approximately12,830 sqft of living area, (740-1100 sqft per unit, buyer to verify square footage). * All the units have 3-4 sided independent walls & balconies, granite slab, newer appliances and fixtures. Most have dishwasher, washer and dryer in unit. * The property's beautifully landscaped grounds are a standout feature with a variety of mature fruit trees & a peaceful garden courtyard that creates a serene atmosphere for residents. * The 1- & 2-bed apartments' actual rents ($2,900 -$5,100/mo) in one of the regions strongest rental markets. * 11 units were remodeled in 2022-2023 and the rest of 3 units were updated approximately 10 years ago. * Roof, gutter, furnaces, windows, hot water heaters, circulator etc. were replaced over the years of ownership. * Ample off-street permitted parking & on-site laundry facilities. * Deck, property & termite reports available. * An A+ property.
Location
State CA
County Santa Clara
Zoning RM20
Interior
Interior Features Updated Baths, Updated Kitchen, Energy Star Lighting, Smart Thermostat
Heating Forced Air
Cooling None
Flooring Hardwood, Laminate, Stone, Tile
Fireplace No
Window Features Double Pane Windows
Appliance Refrigerator, ENERGY STAR Qualified Appliances
Laundry Coin Operated
Exterior
View Y/N true
View City Lights, Downtown
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 12005030
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Listed by Monica Yeung Arima • Yarkin Realty
NEARBY SCHOOL & BUSINESS
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