$8,280,000
SOLD SEP 16, 2020
5 Beds
4.5 Baths
5,617 Sq Ft
0.46 Acres

Recently Sold

$1,474 Per Sq Ft

30% Below List Price

132 Days on Market

Highlights

  • Private Pool
  • Primary Bedroom Suite
  • Fireplace in Primary Bedroom
  • Addison Elementary School Rated A+
  • 0.46 Acre Lot
  • Radiant Floor

About This Home

As of September 2020

DRAMATIC PRICE REDUCTION. Originally $15.5, this amazing new price is well below replacement costs and comps. Large lot and house, turnkey quality, and close proximity to downtown. The lot is 20,000 sq ft. The home has nearly 6,000 sq ft. Construction took four years, with completion in 2004. The result reflects a seamless blend of technology and stunning design elements. Lutron lighting, radiant heat throughout, and a disappearing wall of glass in the great room are a few of the features highlighting the contemporary feel. The award-winning grounds are enhanced by a stunning swimming pool and outdoor kitchen, dramatic water features, and an exquisite secret garden. The unexpectedly quiet location is due to an engineered front wall, sound resistant insulation and custom Bend River windows. 1039 University offers a rare opportunity for the buyer looking for a state of the art home on a large lot located a mere five blocks from the vibrancy of downtown Palo Alto.

Last Agent to Sell the Property

Don Yarkin

Yarkin Realty License #00673086 Listed on: 05/02/2020

Last Buyer's Agent

Linda Xu

Parc Agency Corporation License #01425342

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $104,138

Year Built

  • 2003

Parking

  • 2 Car Garage

Home Design

  • Tile Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 5,617 Sq Ft Home
  • 2-Story Property
  • Whole House Fan
  • Wood Burning Fireplace
  • Gas Fireplace
  • Formal Entry
  • Family Room with Fireplace
  • 3 Fireplaces
  • Living Room with Fireplace
  • Formal Dining Room
  • Den
  • Laundry Room

Kitchen

  • Eat-In Kitchen
  • Breakfast Bar
  • Warming Drawer
  • Microwave
  • Dishwasher
  • Wine Refrigerator
  • Kitchen Island
  • Stone Countertops
  • Trash Compactor

Flooring

  • Wood
  • Carpet
  • Radiant Floor
  • Stone
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Main Floor Bedroom
  • Fireplace in Primary Bedroom
  • Primary Bedroom Suite

Additional Features

  • Private Pool
  • 0.46 Acre Lot

Home Details

Home Type

Single Family

Est. Annual Taxes

$104,138

Year Built

2003

Lot Details

0

Parking

2

Listing Details

  • Zoning: R1929
  • Subclass: Single Family Home
  • Age: 17
  • Listing Class: Residential
  • Structure Sq Ft: 5617
  • Special Features: None
  • Property Sub Type: Detached
  • Year Built: 2003

Interior Features

  • Family Room: Separate Family Room
  • Fireplace: Family Room, Gas Burning, Living Room, Primary Bedroom, Wood Burning
  • Dining Room: Breakfast Bar, Eat In Kitchen, Formal Dining Room
  • Kitchen: Countertop - Stone, Dishwasher, Island With Sink, Microwave, Oven Range - Built-In, Gas, Pantry, Refrigerator, Trash Compactor, Warming Drawer, Wine Refrigerator
  • Fireplace: Yes
  • Living Sq Ft: 5617
  • Stories: 2
  • Bedrooms: Primary Suite / Retreat, More Than One Bedroom On Ground Floor
  • Flooring: Carpet, Hardwood, Stone, Tile
  • Additional Rooms: Den / Study / Office, Formal Entry, Laundry Room, Storage
  • Fireplaces Min: 3
  • Maximum Numberof Bedrooms: 5
  • Minimum Numberof Bedrooms: 5
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Total Bedrooms: 5

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Pool Description: Yes
  • Roof: Tile
  • Pool: Pool - Cover, Pool - Heated, Pool - In Ground, Spa - Above Ground, Spa - Gas, Spa - Jetted

Garage/Parking

  • Garage Spaces: 2
  • Garage Max: 2
  • Garage Min: 2
  • Garage Parking Features: Attached Garage

Utilities

  • Cooling System: Whole House / Attic Fan
  • Heating System: Radiant Floors
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Palo Alto Unified
  • Elementary School: Addison Elementary
  • Middle School: Frank S. Greene Middle
  • High School: Palo Alto High
  • High School: 327
  • Elementary School: 309
  • Middle School: 329

Lot Info

  • Lot Acres: 0.4591
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 20000.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 20000.00

Multi Family

  • Utilities: Public Utilities

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 18, 2022
Sold by
Zhang Yong and Zhang Yushi
Bought by
Zhang 2022 Trust
Current Estimated Value
$9,494,580

Purchase Details

Listed on
May 2, 2020
Closed on
Sep 3, 2020
Sold by
Mccormick Miles S
Bought by
Zhang Yong and Zhang Yushi
Seller's Agent
Don Yarkin
Yarkin Realty
Buyer's Agent
Linda Xu
Parc Agency Corporation
List Price
$11,800,000
Sold Price
$8,280,000
Premium/Discount to List
-$3,520,000
-29.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.83%

Purchase Details

Closed on
Sep 28, 2017
Sold by
Mccormick Miles S
Bought by
Mccormick Miles S

Purchase Details

Closed on
Jul 24, 2012
Sold by
Parish Robert S
Bought by
Mccormick Miles S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$87,000
Interest Rate
3.62%
Mortgage Type
Unknown

Purchase Details

Closed on
Nov 14, 2006
Sold by
Parish Robert S and Mccormick Miles S
Bought by
Parish Robert S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
6.36%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Sep 29, 2006
Sold by
Parish Robert S and Mccormick Miles S
Bought by
Parish Robert S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$350,000
Interest Rate
6.36%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Feb 21, 2003
Sold by
Mccormick Miles S and Parish Robert S
Bought by
Mccormick Miles S and Parish Robert S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,900,000
Interest Rate
5%

Purchase Details

Closed on
Aug 30, 2000
Sold by
Mccormick Miles S and Parish Robert S
Bought by
Parish Robert S and The Robert S Parish Jr Living Trust

Purchase Details

Closed on
Apr 9, 1999
Sold by
Philip Roberts
Bought by
Mccormick Miles S and Parish Robert S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,041,000
Interest Rate
6.65%

Purchase Details

Closed on
Jul 31, 1996
Sold by
Roberts Philip
Bought by
Roberts Philip

Purchase Details

Closed on
Aug 25, 1995
Sold by
Roberts Barbara and Roberts Philip
Bought by
Roberts Philip
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Quit Claim Deed -- --
Grant Deed $8,280,000 Fidelity National Title Co
Interfamily Deed Transfer -- None Available
Grant Deed -- None Available
Interfamily Deed Transfer -- First American Title Company
Interfamily Deed Transfer -- First American Title Company
Interfamily Deed Transfer -- None Available
Interfamily Deed Transfer -- Chicago Title Company
Interfamily Deed Transfer -- Financial Title Company
Interfamily Deed Transfer -- Financial Title Company
Interfamily Deed Transfer -- --
Interfamily Deed Transfer -- --
Individual Deed -- North American Title Co
Interfamily Deed Transfer -- --
Quit Claim Deed -- Fidelity Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $87,000 Unknown
Previous Owner $350,000 Credit Line Revolving
Previous Owner $4,900,000 Negative Amortization
Previous Owner $4,200,000 Fannie Mae Freddie Mac
Previous Owner $400,000 Stand Alone Second
Previous Owner $3,900,000 No Value Available
Previous Owner $2,200,000 Construction
Previous Owner $990,000 Unknown
Previous Owner $790,000 Stand Alone Second
Previous Owner $460,000 Credit Line Revolving
Previous Owner $1,041,000 No Value Available
Previous Owner $320,500 Credit Line Revolving
Closed -- No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/16/2020 09/16/20 Sold $8,280,000 -17.2% $1,474 / Sq Ft
09/12/2020 09/12/20 Pending -- -- --
06/10/2020 06/10/20 Price Changed $9,995,000 -4.8% $1,779 / Sq Ft
05/30/2020 05/30/20 Price Changed $10,500,000 -11.0% $1,869 / Sq Ft
05/02/2020 05/02/20 For Sale $11,800,000 -- $2,101 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $104,138 $8,786,801 $6,685,610 $2,101,191
2023 $102,683 $8,614,512 $6,554,520 $2,059,992
2022 $101,520 $8,445,600 $6,426,000 $2,019,600
2021 $99,525 $8,280,000 $6,300,000 $1,980,000
2020 $51,714 $4,318,800 $2,622,173 $1,696,627
2019 $51,147 $4,234,118 $2,570,758 $1,663,360
2018 $49,724 $4,151,097 $2,520,351 $1,630,746
2017 $48,934 $4,069,704 $2,470,933 $1,598,771
2016 $47,658 $3,989,907 $2,422,484 $1,567,423
2015 $47,201 $3,929,976 $2,386,097 $1,543,879
2014 $46,336 $3,852,994 $2,339,357 $1,513,637
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81791081

MLSListings

APN: 003-05-006