RARE DOWNTOWN NORTH DEVELOPMENT OPPORTUNITY | Exceptional ±7,150 SF site just 3 blocks from University Ave and Downtown Palo Alto Caltrain offers multiple paths to create significant value. City-approved architectural plans envision an approx. 4,365 SF modern 3-level luxury residence with 4BD/3.5BA + attached JADU, expansive entertaining spaces, basement great room, wine room and indoor/outdoor living. The property's exceptional proximity to Caltrain may also provide compelling potential for higher-density transit-oriented residential development under evolving state and local regulations. Rare opportunity for an end-user, builder, developer or investor near Downtown Palo Alto, Stanford and major Silicon Valley employment centers. Existing improvements convey as-is. Buyer to independently verify current zoning, density, unit count, parking, SB 79/AB 2097 applicability and all development standards with the City of Palo Alto.
For sale
$3,750,000
246 Palo Alto Ave, Palo Alto, CA 94301
1beds
1,020sqft
Single Family Residence, Residential
Built in 1923
7,150 Square Feet Lot
$-- Zestimate®
$3,676/sqft
$-- HOA
What's special
- 19 hours
- 247
- 9
Zillow last checked:
Listing updated:
Listed by:
Julie Tsai Law 01339682 650-799-8888,
Compass 650-323-1111
Source: MLSListings Inc,MLS#: ML82059476
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Bathroom
- Features: ShowerandTub
Dining room
- Features: DiningArea
Family room
- Features: SeparateFamilyRoom
Kitchen
- Features: Countertop_Tile
Heating
- Other
Cooling
- None
Appliances
- Included: Gas Oven/Range, Refrigerator, Washer/Dryer
- Laundry: Inside
Features
- Flooring: Hardwood, Vinyl Linoleum
- Number of fireplaces: 1
- Fireplace features: Wood Burning
Interior area
- Total structure area: 1,020
- Total interior livable area: 1,020 sqft
Property
Parking
- Total spaces: 1
- Parking features: Detached
- Garage spaces: 1
Features
- Stories: 1
- Fencing: Wood
Lot
- Size: 7,150 Square Feet
Details
- Parcel number: 12024033
- Zoning: R1
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence, Residential
Materials
- Foundation: Concrete Perimeter
- Roof: Composition
Condition
- New construction: No
- Year built: 1923
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: $3,676/sqft
- Tax assessed value: $2,616,300
- Date on market: 8/28/2026
- Listing agreement: ExclusiveRightToSell
- Listing terms: CashorConventionalLoan
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/29/2026 | Listed for sale | $3,750,000+46.2%$3,676/sqft |
Source:  MLSListings Inc #ML82059476 Report a problem | ||
| 8/29/2024 | Listing removed | $3,500$3/sqft |
Source: Zillow Rentals Report a problem | ||
| 8/20/2024 | Listed for rent | $3,500$3/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/16/2024 | Sold | $2,565,000+25.1%$2,515/sqft |
Source: MLSListings Inc #ML81969460 Report a problem | ||
| 6/27/2024 | Pending sale | $2,050,000$2,010/sqft |
Source: MLSListings Inc #ML81969460 Report a problem | ||
| 6/13/2024 | Listed for sale | $2,050,000$2,010/sqft |
Source: MLSListings Inc #ML81969460 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $2,616,300 +2% |
| 2025 | $31,853 -55.8% | $2,565,000 -16.2% |
| 2024 | $72,012 +1712.7% | $3,060,000 +1114.7% |
| 2023 | $3,973 +1.4% | $251,917 +2% |
| 2022 | $3,918 +2% | $246,978 +2% |
| 2021 | $3,840 +1.7% | $242,137 +1% |
| 2020 | $3,777 | $239,655 +2% |
| 2019 | $3,777 +3.6% | $234,957 +2% |
| 2018 | $3,647 | $230,351 +2% |
| 2017 | $3,647 +1.8% | $225,835 +2% |
| 2016 | $3,582 +4.1% | $221,408 +1.5% |
| 2015 | $3,442 +4.9% | $218,083 +2% |
| 2014 | $3,282 | $213,812 +0.5% |
| 2013 | -- | $212,847 +2% |
| 2012 | -- | $208,675 +2% |
| 2011 | -- | $204,584 +0.8% |
| 2010 | -- | $203,056 -0.2% |
| 2009 | -- | $203,539 +2% |
| 2008 | -- | $199,549 +2% |
| 2007 | -- | $195,638 +2% |
| 2006 | -- | $191,803 +2% |
| 2005 | -- | $188,043 +2% |
| 2004 | -- | $184,357 +1.9% |
| 2003 | -- | $180,979 +2% |
| 2002 | -- | $177,431 +2% |
| 2001 | -- | $173,953 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Downtown North
Nearby schools
Schools provided by the listing agent
- Middle: DavidStarrJordanMiddle_1
- High: PaloAltoHigh
- 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.
- $5,009,1003 bd2 ba2.6k sqft250 Palo Alto Ave, Palo Alto, CA 94301Off Market
- $12,000,000-- bd-- ba20k sqft220 Palo Alto Ave, Palo Alto, CA 94301Off Market
- $--1 bd1 ba790 sqft220 Palo Alto Ave #2665288, Palo Alto, CA 94301Off Market
- $--1 bd1 ba950 sqft220 Palo Alto Ave #2441870, Palo Alto, CA 94301Off Market
Similar homes
- $1,998,0002 bd2 ba960 sqft1321 Hopkins Ave, Palo Alto, CA 94301For Sale
MLS ID #ML82057040, Heng Seroff Group. MLSListings Inc - $3,100,0003 bd3 ba1.3k sqft183 Everett Ave, Palo Alto, CA 94301For Sale
MLS ID #ML82044036, Cathy Liu. MLSListings Inc - $2,888,0004 bd2 ba1.4k sqft4154 Amaranta Ct, Palo Alto, CA 94306For Sale
MLS ID #ML82058918, Sam Zerarka. MLSListings Inc - $3,249,0003 bd2 ba1.3k sqft433 Monroe Dr, Palo Alto, CA 94306For Sale
MLS ID #ML82058408, Frank Ruan. MLSListings Inc
Local buyer's agents are ready to help
