Exceptional opportunity in the coveted Professorville neighborhood of Palo Alto in close proximity to downtown. Seller has approved construction plans with the City of Palo Alto for a new 4 bed, 4 bath residence comprising 2,764 square feet (buyer to verify all approvals with the building department) enabling construction to begin quickly. Plans include incredible outdoor spaces with pool & outdoor kitchen with pizza oven and fireplace. Seller has a bid with a local general contractor and, per the seller, the agreement is transferable to the new buyer (buyer to verify with contractor). Alternatively, a buyer may elect to update/remodel/expand the existing 5 bed, 1.5 bath residence. This property is just blocks to University Ave & downtown. Nestled within the heart of Silicon Valley with access to outstanding Palo Alto schools, tech campuses & Stanford. This offering is for the property with plans - construction not included.