1341 Stanford AVE

PALO ALTO, CA, 94306

$6,850,000

$1,055 per ft²
$6,850,000
$1,055 per ft²
Active
Active
 - For Sale
carpenters-square
6,490 ft²
property_type
Commercial
calendar
Built 1939
Once-in-a-lifetime opportunity to acquire an irreplaceable asset in Palo Alto (next to Stanford Univ.). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & backyards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11%/Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76%/Pro-Forma GRM: 17.6. High-End Remodel (Avg Rent @ $6/SF) CAP Rate: 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property, also ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-Listed w/ Mark Zamudio
MLS® ID:
ML81921599
Updated:
3/24/23

Interior Features

Kitchen Features
Dishwasher, Oven Range, Pantry, Refrigerator
Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Washer / Dryer
Floor Description
Hardwood
Cooling
Central AC, Central Forced Air - Gas
Heating
Central Forced Air - Gas, Fireplace

Exterior/Building Features

Lot Size
0.76 acres lot
Roof
Shingle
Sewer
Sewer - Public

Other Property Details

Area Name
236
Association Amenities
Additional Storage
Garage
Yes
Garage Spaces
7
Parking
Detached Garage, Off-Street Parking, Uncovered Parking
Parking Total
7.0
View
Y
County
Santa Clara
Utilities
Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
Water Source
Individual Water Meter, Public
Pool
Yes
Zoning
R1

Courtesy of Colliers Parrish International, Don Sung,
Listing Contact: 650-380-5188 

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Data last updated 7:11 AM UTC, 3/24/23

 

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