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Listed by Matthew Thomson • Compass
$ 2,500,000
Est. payment /mo
Active
2609-2617 Alma Street Palo Alto, CA 94306
2,232 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,232 sqft
Price per Sqft $1,120
MLS Listing ID ML82049055
HOA Y/N No
Year Built 1951
Lot Size 8,070 Sqft
Property Sub-Type Quadruplex
Source Datashare MLSListings
Property Description
Incredible opportunity for an apartment investor to renovate all units day one. 2609 - 2617 Alma Street presents a rare chance to acquire a 4-unit multifamily property in one of Silicon Valleys most sought-after residential neighborhoods. Located steps from the California Avenue Caltrain Station, the property offers an investor a clear path to renovation and full market-rate stabilization with meaningful upside in a fundamentally supply-constrained market. Redevelopment path also available - Approved development entitlement for 4 detached 3-story townhomes (For Rent homes only - not For Sale project). California Ave, just a couple blocks away (10 min walk or 3 min bike using the pedestrian underpass), is Palo Alto's most historic shopping district, featuring numerous shopping, dining, and professional services. With the heart of Stanford University being just 3-miles away, it offers a wide variety of attractions and experiences, including the Stanford Oval, hiking at the Stanford dish trailhead, and Stanford sports facilities and arenas. The property is strategically surrounded by one of the strongest employment centers in the world, driven by technology, venture capital, healthcare, and higher education.
Location
State CA
County Santa Clara
Interior
Heating Other
Cooling No Air Conditioning
Fireplace No
Building
Water Public
Schools
School District Palo Alto Unified, Palo Alto Unified
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