REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Thu

Aug

Fri

Aug

Sat

Aug

Ryan Mull

rkp@therealtysociety.com +1(408) 805-0359

Listed by Matthew Thomson • Compass

$ 4,800,000

Est. payment | -/mo

3 Beds

2 Baths

6,442 SqFt

Save

$ 4,800,000

Est. payment | -/mo

Save

3 Beds

2 Baths

6,442 SqFt

OPEN HOUSE

Thu Aug 21, 10:00am - 1:00pm

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 6,442 sqft

Price per Sqft $745

MLS Listing ID ML82017965

Bedrooms 3

Full Baths 2

Year Built 1958

Lot Size 0.287 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

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

Tax ID 120-09-021

Special Listing Condition Not Applicable

GET MORE INFORMATION

Ryan Mull

Broker-Associate | Lic# 01329887

rkp@therealtysociety.com

+1(408) 805-0359

42 Martin St Gilroy, CA, 95020

500 Palo Alto AVE Palo Alto, CA 94301

Ryan Mull

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Others

500 Palo Alto AVE