$2,960,000
$3,150,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
7,997 Sqft Lot
SOLD DATE : 09/11/2023
Key Details
Sold Price $2,960,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81920761
Sold Date 09/11/23
HOA Y/N No
Year Built 1958
Annual Tax Amount $38,530
Lot Size 7,997 Sqft
Property Description
ATTRACTIVE SELLER FINANCING AVAILABLE! Two units currently vacant allowing a new owner to add value immediately by renovating and re-renting those units at higher rents. 6-unit apartment building in the heart of Silicon Valley in a great Palo Alto location. 1.5 miles from Stanford University, less than a mile from the Stanford Research Park, and 1 mile from the California Ave Caltrain Station. The property has one large 2-bed, 1-bath owner's unit with private balcony and fireplace, five 1-bed, 1-bath units, and a storage room/nonconforming studio ADU which could be expanded and made into a legal ADU. Perfect for an owner to live in the front unit and rent out the rest. Well maintained units with minimal deferred maintenance, but huge upside in rents in their as-is condition, or through renovation. New water heater, all copper plumbing and dual pane windows. ADU potential by converting some of the tuck-under spaces into a new unit.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning RM4
Interior
Heating Central, Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 6
Roof Type Composition
Building
Water Public
Schools
Elementary Schools Other
Middle Schools Other
High Schools Henry M. Gunn
School District Palo Alto Unified
Others
Tax ID 13241033
Financing Seller Financing
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Matthew Thomson • Newmark Cornish & Carey