New updated roof, new landscaping, added parking all in late 2020. No much to improve upon here, turnkey investment. A 1031 exchange. Of course you can make me sell it for the right price, as retirement is upon me. Downtown Santa Clara County Assessor's Parcel Number (APN): 120-30-045. If California transportation bill passes the value of this lot should jump. As this is near both major bus and train stations. The SB bill would allow for big buildings the city can not easily disaprove. You can build many more apartments as part of the SB bill to reduce peoples needs for cars. Imagine if you will how much the units could rent for if one were to upgrade a little, furnish them and lease them to businesses that have employees traveling here or need temporary relocation. Probably 3,500 - 4,000 per unit/month cash flow. That's about 16,000 per month. More can be done with this lot. This is one of the bigger lots on Alma where there are both business and homes on the same block in the SOFA (South Of Forest Area). Close to public transportation and walking distance to Palo Alto high school downtown university ave., town and country shopping center, Palo Alto Medical Foundation, Stanford. This is a single-story 4 plex apartment building on a large lot. Bigger buildings could be built here. It has a unique street address for each unit, perhaps originally planned to be converted to condos. These are four 1 BD 1BA units. In downtown Palo Alto edge of SOFA, far enough away from the train station that you don't hear the train breaks stopping. Separate laundry room. Separate storage. Additional 120sq ft artist studio behind one of the units. Look at the lot map photo, two lots behind it 35 & 36 or on the side 47 & 46. This lot is huge, downtown.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
