NOT LISTED FOR SALE

1850 Ash St Palo Alto, CA 94306

Old Palo Alto Neighborhood
3 Beds
3 Baths
1,852 Sq Ft
5,027 Sq Ft Lot

Last Sold May 24, 2022

Last sale price $2,500,000 $1,350 Per Sq Ft

14 Days on Market

Highlights

  • Wood Flooring
  • Balcony
  • Coin Laundry
  • Escondido Elementary School Rated A+
  • Laundry Room
  • Grass Covered Lot

About This Home

As of May 2022

Turn-key triplex in an excellent Palo Alto location across the street from Stanford. All three units have 1 bedroom and 1 bathroom around 630 sf, unit 1862 has an additional 60 sf office. Clean section 1 and 2 in termite report. Excellent property condition with numerous renovations and upgrades including all kitchens and baths remodeled with permits (most recently in 2019), electrical service from the street upgraded to 200 amps with all new main and subpanels, new furnaces in each unit, all windows with new double pane low-E glass for quiet and insulation, complete earthquake upgrade / retrofit with permits, etc. Ideal property to attract great tenants like Stanford grad students and tech employees. 3 garages (one private, two currently used for storage) with the possibility to convert to ADU(s) for significant increase in rental income (not guaranteed by owner or broker). Walkers Paradise, walkability score of 92 and Bike Score of 100: Daily errands do not require a car

Last Agent to Sell the Property

Bryan Danforth

Newmark Cornish & Carey License #01789680 Listed on: 03/22/2022

Newmark Cornish & Carey

Last Buyer's Agent

Dedy Efendi

Action Properties Inc License #01413868

Property Details

Home Type

  • Multi-Family

Year Built

  • 1955

Lot Details

  • 5,027 Sq Ft Lot
  • Grass Covered Lot

Parking

  • 3 Car Garage
  • Off-Street Parking

Home Design

  • Triplex
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,852 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Laundry Room

Outdoor Features

  • Balcony

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $86,280
  • Month-to-Month Lease Term

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 3 Leased Units
  • Gardener Expense $2,200
  • Insurance Expense $1,936
  • Maintenance Expense $2,250
  • Other Expense $750
  • Utility Expense $3,152
  • Operating Expense $39,685
  • Gross Income $84,031

Property Details

Home Type

Multi-Family

Year Built

1955

Lot Details

0

Parking

3

Listing Details

  • Zoning: RM2
  • Subclass: Triplex
  • Age: 67
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1852
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1955

Interior Features

  • Living Sq Ft: 1852
  • Stories: 2
  • Laundry: Coin Operated
  • Flooring: Hardwood
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition
  • Yard/Grounds: Balcony / Patio, Low Maintenance
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 3
  • Parking Spaces: 3
  • Garage Parking Features: Attached Garage, Off-Street Parking

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Palo Alto Unified
  • Elementary School: Escondido Elementary
  • Middle School: Frank S. Greene Middle
  • High School: Palo Alto High
  • High School: 327
  • Elementary School: 313
  • Middle School: 329

Lot Info

  • Lot Acres: 0.1154
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5027.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5027.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 27.57
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 1936
  • Expense Landscape: 2200
  • Expense Maintenance: 2250
  • Expenses Other: 750
  • Expenses Total: 39685
  • Expenses Utility: 3152
  • Income Annual Gross: 84031.00
  • Income Annual Rental: 86280
  • Income Gross Scheduled: 86630
  • Income Includes: Laundry, Rents
  • Income Other: 350
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Gardener, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/24/2022 05/24/22 Sold $2,500,000 +4.7% $1,350 / Sq Ft
04/06/2022 04/06/22 Pending -- -- --
03/22/2022 03/22/22 For Sale $2,388,000 -- $1,289 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2022

    Bryan Danforth

    Newmark Cornish & Carey

    Section Image
  • Dedy Efendi

    Buyer's Agent in 2022

    Dedy Efendi

    Action Properties Inc

    (650) 279-4728

    3 in this area

    55 Total Sales

    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81883502

MLSListings

California Santa Clara County Palo Alto 94306 Old Palo Alto

1850 Ash St, Palo Alto, CA

This home is located at 1850 Ash St, Palo Alto, CA 94306 since 22 March 2022. This property was built in 1955. 1850 Ash St is a home located in Santa Clara County with nearby schools including Escondido Elementary School, Frank S. Greene Jr. Middle, and Palo Alto High School.

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