NOT LISTED FOR SALE

510 Addison Ave Palo Alto, CA 94301

University South Neighborhood
4 Beds
4 Baths
2,350 Sq Ft
5,619 Sq Ft Lot

Last Sold June 16, 2016

Last sale price $2,650,000 $1,128 Per Sq Ft

12 Days on Market

Highlights

  • Wood Flooring
  • 2 Car Attached Garage
  • Storage Room
  • Addison Elementary School Rated A+
  • Tandem Parking
  • 4-minute walk to Scott Park

About This Home

As of June 2016

RARE Palo Alto Duplex in Prestigious Professorville Neighborhood! Ideal for Investor or Owner Occupant. Rent Upside Potential. Excellent Unit Mix: (2) 2 Bedroom, 1.5 Bath Townhouse Style units. Each unit has a spacious two story floor plan. Each unit has a large private backyard, private 1-car attached garage , Washer & Dryer, Fireplace, Central forced air heat, Dual pane windows & sliding LR door, Hardwood floors (noted in living room and bedrooms) and an extra large 2nd floor bathroom with linen closet. All electric kitchens with refrigerator, oven/stove, dishwasher and garbage disposal. Premier location with highly sought after Palo Alto schools. Located in prime residential neighborhood with many quality single family homes. Easy access to Downtown Palo Alto, Caltrain Station, Stanford Shopping Center, Stanford University, Stanford Research Park, Highway 101 and Addison Elementary School.

Last Agent to Sell the Property

Keith Suddjian

Cornish & Carey Commercial License #00673961 Listed on: 05/13/2016

Co-Listed By

Michelle Clark

Cornish & Carey Commercial License #01918902

Last Buyer's Agent

Keith Suddjian

Cornish & Carey Commercial License #00673961 Listed on: 05/13/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • 1951

Lot Details

  • 5,619 Sq Ft Lot
  • Fenced
  • Back Yard

Parking

  • 2 Car Attached Garage
  • Tandem Parking

Home Design

  • Duplex
  • Wood Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,350 Sq Ft Home
  • 2-Story Property
  • Storage Room
  • Washer and Dryer

Kitchen

  • Electric Oven
  • Dishwasher
  • Laminate Countertops
  • Disposal

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $86,100
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 2 Leased Units
  • Gardener Expense $1,512
  • Insurance Expense $1,084
  • Maintenance Expense $2,297
  • Other Expense $511
  • Operating Expense $38,698
  • Gross Income $83,517

Property Details

Home Type

Multi-Family

Year Built

1951

Lot Details

0

Parking

2

Listing Details

  • Zoning: R1
  • Subclass: Duplex
  • Age: 65
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2350
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1951

Interior Features

  • Kitchen: Countertop - Laminate, Dishwasher, Garbage Disposal, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 2350
  • Stories: 2
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Hardwood, Tile, Vinyl / Linoleum
  • Additional Rooms: Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Wood Shakes / Shingles
  • Yard/Grounds: Back Yard, Fenced

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 2
  • Garage Parking Features: Attached Garage, Tandem Parking

Utilities

  • Heating System: Central Forced Air
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Palo Alto Unified
  • Elementary School: Addison Elementary
  • Middle School: David Starr Jordan Middle
  • High School: Palo Alto High
  • High School: 327
  • Elementary School: 309
  • Middle School: 329

Lot Info

  • Lot Acres: 0.1290
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5601.82
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5601.82

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 31.94
  • Number Of Leased: 2

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 1084
  • Expense Landscape: 1512
  • Expense Maintenance: 2297
  • Expenses Other: 511
  • Expenses Total: 38698
  • Income Annual Gross: 83517.00
  • Income Annual Rental: 86100
  • Income Gross Scheduled: 86100
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Reserve Fund, Services - Gardener, Supplies, Vacancy Factor
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • 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
06/16/2016 06/16/16 Sold $2,650,000 -3.6% $1,128 / Sq Ft
05/26/2016 05/26/16 Pending -- -- --
05/13/2016 05/13/16 For Sale $2,750,000 -- $1,170 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2016

    Keith Suddjian

    Cornish & Carey Commercial

    Section Image

  • M

    Seller Co-Listing Agent in 2016

    Michelle Clark

    Cornish & Carey Commercial

    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81585508

MLSListings

APN: 120-06-002

California Santa Clara County Palo Alto 94301 University South

510 Addison Ave, Palo Alto, CA

This home is located at 510 Addison Ave, Palo Alto, CA 94301 since 13 May 2016. This property was built in 1951. 510 Addison Ave is a home located in Santa Clara County with nearby schools including Addison Elementary School, Frank S. Greene Jr. Middle, and Palo Alto High School.

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