1341 Stanford Avenue, Palo Alto, CA 94306

About this commercial property

Once-in-a-lifetime opportunity to acquire an irreplaceable asset in Palo Alto (next to Stanford Univ.). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & backyards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11%/Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76%/Pro-Forma GRM: 17.6. High-End Remodel (Avg Rent @ $6/SF) CAP Rate: 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property, also ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-Listed w/ Mark Zamudio

Listing description from the May 2023 sale, as reported to CRMLS.

Sale history

$7,032,319

Sold May 2023 · listed $6,850,000, on market March 2023 · MLS #ML81921599 · Source: CRMLS

Listing Agent: Don Sung · Listing Office: Colliers Parrish International · Contact: (408) 282-3800 · Bought with: RECIP · Out of Area Office

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