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Listed by Matthew Thomson • Compass
$ 4,800,000
Est. payment /mo
New
500 Palo Alto Avenue Palo Alto, CA 94301
6,442 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,442 sqft
Price per Sqft $745
MLS Listing ID ML82017965
HOA Y/N No
Year Built 1958
Lot Size 0.287 Acres
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Cooling None
Fireplace No
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