$4,400,000
$4,495,000
2.1%For more information regarding the value of a property, please contact us for a free consultation.
0.29 Acres Lot
SOLD DATE : 06/29/2023
Key Details
Sold Price $4,400,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81928079
Sold Date 06/29/23
HOA Y/N No
Year Built 1962
Annual Tax Amount $54,591
Lot Size 0.294 Acres
Property Description
303 Sheridan Avenue is an attractive 7-unit apartment building located in the desirable Evergreen Park submarket of Palo Alto. The property boasts an incredible unit mix of (2) 2+2; (1) 2+1.5TH and (4) 2+1. The oversized units range from 850 sq. ft. to 1,005 sq. ft. and benefit from either a private patio or balcony, updates to kitchens and baths (select units) including dishwashers (6 units) and disposals, forced air heat, individual water heaters, carport parking, and coin-op laundry facility (leased). The property is located moments to quaint retail and restaurants of California Avenue, Stanford University and Shopping Center, Mayfield Playing Fields and Bowden Park, and is transit-oriented being a short walk to the California Avenue Caltrain station. 303 Sheridan feeds to the top public school district in California, specifically Escondido Elementary School, Greene Middle School, and Palo Alto High School. The property's financial performance could be improved through a combination of embedded rent increases and continued unit renovation program.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning RM5
Interior
Heating Forced Air
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Carport Spaces 7
Roof Type Composition,Shingle
Total Parking Spaces 4
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Palo Alto
School District Palo Alto Unified
Others
Tax ID 13236075
Financing Seller Financing
Special Listing Condition Standard
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Bought with Joel Hopman • Newmark Cornish & Carey