$2,700,000
SOLD MAY 9, 2025

474 Matadero Ave Palo Alto, CA 94306

Ventura Neighborhood
4 Beds
4 Baths
3,186 Sq Ft
5,227 Sq Ft Lot

Recently Sold

$847 Per Sq Ft

5% Below List Price

73 Days on Market

About This Home

As of May 2025

474 Matadero Ave, a meticulously maintained 4-unit multifamily property in the vibrant heart of Palo Alto. Each of the four units features a spacious one-bedroom layout. With a building size of 3,185 square feet and a lot size of 5,397 square feet, there is ample room for tenants to enjoy. Two units have been recently and extensively renovated, offering a contemporary feel and the option to convert them into two-bedroom units for increased rental income. Additionally, parking space for all units provides convenient access and adds to the property's overall appeal. The property includes a range of capital improvements, such as new dual-pane windows for greater energy efficiency, updated electrical systems for modern convenience, and tankless water heaters in select units. All units also feature in-unit laundry facilities, further adding to the comfort and convenience for residents. Situated in a premier location, just steps from Downtown Palo Alto and Stanford University, this property offers exceptional proximity to top rated schools, vibrant shopping and dining areas, and major tech campuses. Surrounded by many top tech employers, the property benefits from a dynamic and high-demand neighborhood.

Last Agent to Sell the Property

Phillip Batlin

Marcus & Millichap License #01873218 Listed on: 02/14/2025

Last Buyer's Agent

yan zeng

Compass License #02054962

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • 1950

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Wood Shingle Roof

Interior Spaces

  • 3,186 Sq Ft Home
  • 2-Story Property
  • Laminate Flooring

Parking

  • 4 Parking Spaces
  • 4 Carport Spaces

Additional Features

  • 5,227 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $128,088
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Insurance Expense $3,200
  • Maintenance Expense $1,164
  • Other Expense $1,161
  • Utility Expense $1,333
  • Trash Expense $650
  • Operating Expense $41,032
  • Gross Income $124,245

Property Details

Home Type

Multi-Family

Year Built

1950

Lot Details

0

Listing Details

  • Zoning: RM4
  • Subclass: Fourplex
  • Age: 75
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3186
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1950

Interior Features

  • Living Sq Ft: 3186
  • Stories: 2
  • Flooring: Laminate

Exterior Features

  • Foundation: Wood Frame
  • Roof: Wood Shakes / Shingles

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Carport
  • Carport Min: 4

Utilities

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

Schools

  • School District: Palo Alto Unified

Lot Info

  • Lot Acres: 0.1200
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5227.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5227.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 22.25
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 3200
  • Expense Maintenance: 1164
  • Expenses Other: 1161
  • Expenses Total: 41032
  • Expenses Utility: 1333
  • Expense Trash: 650
  • Income Annual Gross: 124245.00
  • Income Annual Rental: 128088
  • Income Gross Scheduled: 128088
  • Income Includes: Rents
  • Meters: Master Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Maintenance - Repair, Utilities - Water
  • Tenant Expenses: Utilities - Gas
  • Vacancy Factor: 3

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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

Property History

Date Event Price Change Sq Ft Price
05/09/2025 05/09/25 Sold $2,700,000 -5.3% $847 / Sq Ft
04/29/2025 04/29/25 Pending -- -- --
02/14/2025 02/14/25 For Sale $2,850,000 -- $895 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2025

    Phillip Batlin

    Marcus & Millichap

    (415) 625-2189

    1 in this area

    24 Total Sales

    Section Image
  • yan zeng

    Buyer's Agent in 2025

    yan zeng

    Compass

    (650) 862-3568

    1 in this area

    14 Total Sales

    Section Image
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Map

Source: MLSListings

MLS Number: ML81994098

MLSListings

APN: 132-40-011

California Santa Clara County Palo Alto 94306 Ventura

474 Matadero Ave, Palo Alto, CA

This home is located at 474 Matadero Ave, Palo Alto, CA 94306 and is currently priced at $2,700,000, approximately $847 per square foot. This property was built in 1950. 474 Matadero Ave is a home located in Santa Clara County with nearby schools including Barron Park Elementary School, Ellen Fletcher Middle, and Henry M. Gunn High School.

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