CA > Palo Alto
Palo Alto, CA 94301,500 Palo Alto AVE
Palo Alto, CA 94301,500 Palo Alto AVE
Palo Alto, CA 94301,500 Palo Alto AVE
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John Herkenrath

John Herkenrath

+1(310) 221-2910
$4,800,000
Est. payment /mo
0.29 Acres Lot
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Thu Aug 21, 10:00am - 1:00pm

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82017965

HOA Y/N No

Year Built 1958

Annual Tax Amount $57,482

Lot Size 0.287 Acres

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

Area 699 - Not Defined

Zoning R1

Interior

Heating Forced Air

Cooling None

Fireplace No

Exterior

Roof Type Composition

Total Parking Spaces 8

Building

Water Public

Schools

School District Palo Alto Unified

Others

Tax ID 12009021

Security Features Security Lights

Special Listing Condition Standard

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CRMLS – RECore
Listed by Matthew Thomson Compass
agent-avatar

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

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