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Listed by Kelly Griggs • Coldwell Banker Realty
$3,098,000
Est. payment /mo
3,540 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $875
MLS Listing ID ML82062178
HOA Y/N No
Year Built 1925
Lot Size 3,987 Sqft
Property Sub-Type Other
Source Datashare MLSListings
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 1-bed 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
Interior
Heating Electric, Wall Furnace
Flooring Laminate
Fireplace No
Appliance Dishwasher, Refrigerator
Building
Water Public
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