500 Palo Alto Avenue, Palo Alto, CA 94301

• 6,442 sqft

Property Description

True trophy asset in irreplacable downtown Palo Alto location. Excellent Unit Mix: (6) Two-Bedroom / One-Bath & (2) One-Bedroom / One-Bath Units. Numerous recent upgrades including interior updates to at least half of the units with updated kitchen countertops and bathrooms. Beautiful pool and courtyard area. Solid in-place rents with plenty of upside potential through additional unit renovations. Forced Air Heating in every unit, many furnaces replaced in the past few years. Recent replacement of water heaters (2023+2025). All copper plumbing. New composition shingle roof installed in 2010. Garage parking for all tenants. Laundry facility on-site. Add 2 ADUs. Convert the garage parking into two new ADU units to add income and value. Incredible location in one of the most prestigious and supply-constrained submarkets of Silicon Valley walking distance to all the shopping, dining & entertainment amenities on University Avenue. The property benefits from its proximity to downtown Palo Alto, Stanford University, and top employers such as Google, Meta, and Palantir, making it highly attractive to both residents and investors. Demand for quality housing in this submarket remains consistently strong due to limited new development and exceptionally high barriers to entry.

Listing Status:

Pending

Date Added:

August 13, 2025 at 05:00AM

Listing Office:

Compass : 415-874-5000

Listing Agent:

Matthew Thomson : 650-515-6555

MLS ID:

ML82017965

Interior

• A/C: None

Exterior

• Parking: AttachedTandem

Construction

• Roofing: Shingle

Location

• County: Santa Clara

Lot

• Zoning: R112009021

This listing courtesy of Matthew Thomson, Compass