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Listed by Monica Yeung Arima • Yarkin Realty
$ 11,000,000
Est. payment | /mo
12,830 SqFt
$ 11,000,000
Est. payment | /mo
12,830 SqFt
Key Details
Property Type Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 12,830 sqft
Price per Sqft $857
MLS Listing ID ML82056833
HOA Y/N No
Year Built 1961
Lot Size 0.402 Acres
Property Sub-Type OTHER
Source Datashare MLSListings
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
Interior
Heating Forced Air
Cooling No Air Conditioning
Flooring Hardwood, Laminate, Tile
Fireplace No
Window Features Double Pane Windows
Appliance ENERGY STAR Qualified Appliances
Laundry Coin Operated
Exterior
View City Lights, Downtown
Building
Lot Description Rectangular Lot
Water Public
Schools
School District Palo Alto Unified, Palo Alto Unified
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