$4,800,000

500 Palo Alto Avenue, Palo Alto, CA 94301

  • 6,442 sqft
  • Property Icon other
  • Property Year Built Icon Built in 1958
  • Property Lot Size Icon0.29acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $745/sqft
  • Property List Date Icon Listed 2 months ago

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
  • A/C: None
  • Parking: AttachedTandem
  • Roofing: Shingle
  • County: Santa Clara
  • Zoning: R112009021

This listing courtesy of Matthew Thomson, Compass

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

A

Addison Elementary School

650 Addison Ave, Palo Alto, CA, 94301

Grades KG-5

0.88 miles away

P

Packard Children's Hospital/Stanford

725 Welch Rd, Palo Alto, CA, 94304

Grades KG-12

1.25 miles away

P

Palo Alto High School

50 Embarcadero Rd, Palo Alto, CA, 94301

Grades 9-12

1.15 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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