Additional details

JLee Broker

[email protected] +1(650) 857-1000

Listed by Kelly Griggs, DRE #01812313 • Coldwell Banker Realty

$3,098,000

Est. payment - /mo

2 Beds

3 Baths

3,540 SqFt

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Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,540 sqft

Price per Sqft $875

MLS Listing ID ML82062178

Bedrooms 2

Full Baths 3

Year Built 1925

Lot Size 3,987 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

This well-maintained 5-unit multifamily property offers investors a rare combination of in-place stability and proven upside in one of the Bay Area's most resilient rental submarkets. Located just a few blocks from University Avenue's dining, shops, and retail, this offers a desirable walk to downtown Palo Alto location. Built in 1925 and thoughtfully updated over time, including a new electrical panel, new HVAC systems in each unit. Every unit has been nicely remodeled, with all units offering remodeled kitchens and baths, in-unit washer and dryer, and A/C. The unit mix consists of four spacious 1-bedroom/1-bath units and one studio, totaling 3,540 SF in the building. The property is occupied with excellent, well-qualified tenants, currently at under-market rents. All 5 units are nicely remodeled with great natural light and fabulous floor plans. Deep renter pool from nearby major employers and CalTrain accessibility. 2-car garage onsite, which could be rented for added income or converted to an ADU. Two additional driveway parking spots. This property can be purchased individually as a 5-unit multifamily property or as a combined 12-unit portfolio with the adjacent 4-plex at 311-317 Ramona Street and triplex at 270 Everett. Incredible opportunity!

Location

State CA

County Santa Clara

Area Downtown Palo Alto

Zoning RM4

Rooms

Kitchen Countertop - Synthetic, Exhaust Fan, Microwave, Oven Range - Electric, Refrigerator

Interior

Heating Electric, Forced Air

Cooling Window / Wall Unit

Flooring Laminate

Laundry Washer / Dryer

Exterior

Parking Features Attached Garage, On Street, Tandem Parking, Uncovered Parking

Garage Spaces 2.0

Utilities Available Individual Electric Meters, Public Utilities

Roof Type Flat / Low Pitch,Tile

Building

Foundation Concrete Perimeter and Slab

Sewer Sewer - Public

Water Public

Others

Tax ID 120-25-066

Special Listing Condition Not Applicable

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JLee Broker

+1(650) 857-1000

Broker License ID: 00851314

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252-262 Everett AVE Palo Alto, CA 94301

JLee Broker

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby School & Business

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