NOT LISTED FOR SALE

Palo Alto, CA 94306

South of Midtown Neighborhood
-- Bed
-- Bath
1,837 Sq Ft
6,229 Sq Ft Lot

Last Sold June 21, 2016

Last sale price $1,731,000 $942 Per Sq Ft

69 Days on Market

Highlights

  • Vaulted Ceiling
  • Traditional Architecture
  • Fenced
  • El Carmelo Elementary School Rated A+
  • Detached Garage
  • Level Lot

About This Home

As of June 2016

This is a rare once in a lifetime find in very desirable Palo Alto. A great owner user or investor opportunity. Current rents are well below market, up side potential to bring all rent to market insomuch as 2 tenants are month to month and the 3rd tenant lease expires 4/20/2016. The units are set back off Alma somewhat mitigating the traffic noise factor. Each unit has a back door to a small patio for a private outdoor space. The vaulted ceilings through out give the units a spacious feel. Close proximity to Stanford University, downtown Palo Alto business area. Via Page Mill Rd and Oregon Expy affords ease of access to 101 Bayshore or 280 freeways which adds to the desirability of this property. 11 min. drive to Google, 22 min. to Apple and 14 min. drive to Facebook. Really near the heart of Silicon Valley.

Last Agent to Sell the Property

David Richards

D A Richards & Associates License #01099600 Listed on: 12/30/2015

Last Buyer's Agent

Francisco Liong

Real Estate Center License #01798818

Real Estate Center

Property Details

Home Type

  • Multi-Family

Year Built

  • 1958

Lot Details

  • 6,229 Sq Ft Lot
  • Fenced
  • Level Lot
  • Back Yard

Home Design

  • Triplex
  • Traditional Architecture
  • Raised Foundation
  • Wood Frame Construction
  • Tar and Gravel Roof

Interior Spaces

  • 1,837 Sq Ft Home
  • 1-Story Property
  • Vaulted Ceiling
  • Crawl Space

Kitchen

  • Gas Oven
  • Formica Countertops

Flooring

  • Carpet
  • Vinyl

Parking

  • Detached Garage
  • 3 Carport Spaces
  • Assigned Parking

Utilities

  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $53,486

Community Details

Overview

Building Details

  • 3 Leased Units
  • Gardener Expense $660
  • Insurance Expense $1,994
  • Maintenance Expense $600
  • Manager Expense $3,860
  • Utility Expense $774
  • Trash Expense $650
  • Operating Expense $12,978
  • Gross Income $52,416

Property Details

Home Type

Multi-Family

Year Built

1958

Lot Details

0

Listing Details

  • Zoning: RM2
  • Subclass: Triplex
  • Style: Traditional
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1837
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1958

Interior Features

  • Kitchen: Appliances - Vary By Unit, Countertop - Formica, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 1837
  • Stories: 1
  • Flooring: Carpet, Vinyl / Linoleum

Exterior Features

  • Foundation: Crawl Space, Raised
  • Roof: Tar And Gravel
  • Yard/Grounds: Back Yard, Fenced
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Parking Features: Assigned Spaces, Carport, Detached Garage
  • Carport Min: 3

Utilities

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

Association/Amenities

  • Amenities Miscellaneous: Vaulted Ceiling

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.1430
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6246.50
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6246.50

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 36.08
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1994
  • Expense Landscape: 660
  • Expense Maintenance: 600
  • Expense Management: 3860
  • Expenses Total: 12978
  • Expenses Utility: 774
  • Expense Trash: 650
  • Income Annual Gross: 52416.00
  • Income Annual Rental: 53486
  • Income Gross Scheduled: 53486
  • Income Includes: Rents
  • Meters: Master Water, Separate Common Area, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Exterminator, Maintenance - Laundry, Maintenance - Repair, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Hot Water
  • Vacancy Factor: 2

Range of Values:

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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

Property History

Date Event Price List to Sale Price per Sq Ft
06/21/2016 06/21/16 Sold $1,731,000 -10.3% $942 / Sq Ft
03/09/2016 03/09/16 Pending -- -- --
12/30/2015 12/30/15 For Sale $1,930,000 -- $1,051 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • David Richards

    Seller's Agent in 2016

    David Richards

    D A Richards & Associates

    (408) 257-5956

    3 Total Sales

    David Richards
    Section Image

  • F

    Buyer's Agent in 2016

    Francisco Liong

    Real Estate Center

    Section Image
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Source: MLSListings

MLS Number: ML81545680

MLSListings
California Santa Clara County Palo Alto 94306

South of Midtown

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