For sale

$3,750,000

235 Alma St, Palo Alto, CA 94301

2beds

4baths

3,940sqft

$25,556/mo

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Residential Income

Built in 1904

-- sqft lot

$3,588,500 Zestimate^®

$952/sqft

$-- HOA

What's special

235 Alma offers a rare opportunity to own a unique office or live/work property in the heart of Downtown Palo Alto. The property is zoned CD-N (P) and the home has been used for SFR. SFR use is permitted non-conforming use. This meticulously updated (2025) property features two structures totaling approximately. 3940 SF, situated on +/- 5,625 SF parcel. The main building spans multiple levels and includes freshly renovated interiors with clean, modern, finishes, while the second structure provides adaptable office or flex space. Recent exterior renovations and professional landscaping have created an inviting environment complemented by abundant natural light throughout both buildings. Onsite and nearby street parking options add conveninece for occupants and visitors alike. The location is in close proximity to the PA Caltrain station and SB 79 is potentially applicable to this property.

16 hours

105

5

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 2
Bathrooms: 4

Heating

Central Forced Air, Other

Cooling

Central Air

Features

Doors: None

Interior area

Total structure area: 3,940
Total interior livable area: 3,940 sqft

Property

Parking

Total spaces: 4
Parking features: Common, Detached, Garage Door Opener
Garage spaces: 4
Has carport: Yes

Accessibility

Accessibility features: None

Features

Stories: 2

Lot

Size: 5,625 Square Feet

Details

Parcel number: 12025058
Zoning: CD-N
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Residential Income

Materials

Foundation: Concrete Perimeter, Pillar/Post/Pier
Roof: Shingle

Condition

Year built: 1904

Utilities & green energy

Gas: PublicUtilities
Sewer: Public Sewer
Water: Public
Utilities for property: Public Utilities, Water Public

Community & HOA

Location

Region: Palo Alto

Financial & listing details

Price per square foot: $952/sqft
Date on market: 8/18/2026
Listing agreement: ExclusiveRightToSell
Inclusions: Building, DishwasherSomeUnits, Land, OvenRangeSomeUnits

Estimated market value

$3,588,500

$3.41M - $3.77M

$7,638/mo

Price history

Date	Event	Price
8/18/2026	Listed for sale	$3,750,000$952/sqft
Source: MLSListings Inc #ML82058116 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

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Climate risks

Neighborhood: Downtown North

Getting around

87 / 100

Very Walkable

57 / 100

Good Transit

100 / 100

Biker's Paradise

Nearby schools

GreatSchools rating

9/10
Addison Elementary School
Grades: K-5Distance: 0.9 mi
9/10
Frank S. Greene Jr. Middle
Grades: 6-8Distance: 1.9 mi
10/10
Palo Alto High School
Grades: 9-12Distance: 0.8 mi

Schools provided by the listing agent

District: PaloAltoUnified

Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.