NOT LISTED FOR SALE

2239 Wellesley St Palo Alto, CA 94306

Estimated Value: $3,217,000 - $5,084,557

0.2 Acre
$20,587,329 Price per Acre
8,873 Sq Ft Lot

Last Sold August 30, 2021

Last sale price $3,395,000 $3,264 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $26,730/month

18 Days on Market

About This Lot

As of August 2021

Huge 8,874 sq ft lot in college terrace close to Stanford Campus, California Ave shops and Library . Existing dwelling has foundation issues and "Red Tagged" by the city. Per the city, one can build a single family home with a 1,000SF ADU and a 500SF Jr. ADU. Yes three separate units that can accommodate street access for each. Or, repair the existing 1,000 sf home as an ADU and build a new home next to it.

Last Agent to Sell the Property

Art Sharif

Sotheby's Intl Rlty License #01481940 Listed on: 07/12/2021

Sotheby's Intl Rlty

Last Buyer's Agent

Carol Carnevale

Compass License #00946687

Compass

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $46,563

Lot Details

  • 8,873 Sq Ft Lot
  • Chain Link Fence

Utilities

  • Gas Available

Property Details

Property Type

Land

Est. Annual Taxes

$46,563

Lot Details

0

Listing Details

  • Zoning: R3
  • Subclass: Residential Lot
  • Listing Class: Residential Lots & Land
  • Present Use: Residential
  • Development Status: Build To Suit
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Fencing: Chain Link

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Palo Alto Unified

Lot Info

  • Lot Description: Regular
  • Lot Acres: 0.2037
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8874.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8874.00
  • Parcel Access: Paved Road

Multi Family

  • Utilities: Electricity - On Site, Gas - On Site, Public Utilities

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 12, 2021
Closed on
Aug 11, 2021
Sold by
Cato Investment Company Llc
Bought by
Board Of Trustees Of The Leland Stanford Juni
Seller's Agent
Art Sharif
Sotheby's Intl Rlty
Buyer's Agent
Carol Carnevale
Compass
List Price
$3,295,000
Sold Price
$3,395,000
Premium/Discount to List
$100,000
3.03%
Current Estimated Value
$4,193,639

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$798,639
Avg. Annual Appreciation
5.18%

Purchase Details

Listed on
Jan 18, 2019
Closed on
Aug 14, 2019
Sold by
Mellish David John and Bypass Trust Of Mellish 1992 L
Bought by
Cato Investment Company Llc
Seller's Agent
Margot and Ricky Lockwood/ Flores
Compass
List Price
$4,499,000
Sold Price
$2,960,000
Premium/Discount to List
-$1,539,000
-34.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.99%

Purchase Details

Closed on
Feb 8, 2007
Sold by
Mellish Lucille Weeks
Bought by
Mellish Lucille Weeks
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Board Of Trustees Of The Leland Stanford Juni $3,395,000 Chicago Title
Cato Investment Company Llc $2,960,000 Old Republic Title Company
Mellish Lucille Weeks -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Studdert David M $250,000
Closed Studdert David M $300,000
Closed Studdert David M $40,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/30/2021 08/30/21 Sold $3,395,000 0.0% $3,264 / Sq Ft
07/30/2021 07/30/21 Pending -- -- --
07/13/2021 07/13/21 Price Changed $3,395,000 +3.0% $3,264 / Sq Ft
07/12/2021 07/12/21 For Sale $3,295,000 +11.3% $3,168 / Sq Ft
08/20/2019 08/20/19 Sold $2,960,000 -4.4% $2,846 / Sq Ft
07/31/2019 07/31/19 Pending -- -- --
07/28/2019 07/28/19 Price Changed $3,095,000 -11.4% $2,976 / Sq Ft
04/10/2019 04/10/19 Price Changed $3,495,000 -22.3% $3,361 / Sq Ft
01/18/2019 01/18/19 For Sale $4,499,000 -- $4,326 / 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
2025 $46,563 $5,049,189 $3,592,189 $1,457,000
2024 $46,563 $3,878,374 $3,521,754 $356,620
2023 $41,874 $3,462,900 $3,452,700 $10,200
2022 $41,394 $3,395,000 $3,385,000 $10,000
2021 $36,559 $2,990,665 $2,980,562 $10,103
2020 $35,800 $2,960,000 $2,950,000 $10,000
2019 $7,658 $565,639 $437,384 $128,255
2018 $7,464 $554,549 $428,808 $125,741
2017 $7,332 $543,676 $420,400 $123,276
2016 $7,135 $533,016 $412,157 $120,859
2015 $7,060 $525,011 $405,967 $119,044
2014 $6,842 $514,728 $398,015 $116,713
Source: Public Records

Agents Affiliated with this Home

  • Art Sharif

    Seller's Agent in 2021

    Art Sharif

    Sotheby's Intl Rlty

    (650) 804-4770

    74 Total Sales

    Art Sharif
    Section Image
  • Carol Carnevale

    Buyer's Agent in 2021

    Carol Carnevale

    Compass

    (650) 250-4517

    11 Total Sales

    Carol Carnevale
    Section Image

  • M

    Seller's Agent in 2019

    Margot and Ricky Lockwood/ Flores

    Compass

    Section Image

  • R

    Seller Co-Listing Agent in 2019

    Ricky Flores

    Compass

    Section Image
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Map

Source: MLSListings

MLS Number: ML81851487

MLSListings

APN: 137-02-008

California Santa Clara County Palo Alto 94306

2239 Wellesley St, Palo Alto, CA

This home is located at 2239 Wellesley St, Palo Alto, CA 94306 since 12 July 2021 and is currently estimated at $4,193,639, approximately $4,032 per square foot. 2239 Wellesley 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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