303 Sheridan Avenue, Palo Alto, CA 94306

About this commercial property

303 Sheridan Avenue is an attractive 7-unit apartment building located in the desirable Evergreen Park submarket of Palo Alto. The property boasts an incredible unit mix of (2) 2+2; (1) 2+1.5TH and (4) 2+1. The oversized units range from 850 sq. ft. to 1,005 sq. ft. and benefit from either a private patio or balcony, updates to kitchens and baths (select units) including dishwashers (6 units) and disposals, forced air heat, individual water heaters, carport parking, and coin-op laundry facility (leased). The property is located moments to quaint retail and restaurants of California Avenue, Stanford University and Shopping Center, Mayfield Playing Fields and Bowden Park, and is transit-oriented being a short walk to the California Avenue Caltrain station. 303 Sheridan feeds to the top public school district in California, specifically Escondido Elementary School, Greene Middle School, and Palo Alto High School. The property's financial performance could be improved through a combination of embedded rent increases and continued unit renovation program.

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

Sale history

$4,400,000

Sold June 2023 · listed $4,495,000, on market May 2023 · MLS #ML81928079 · Source: CRMLS

Listing Agent: Joel Hopman · Listing Office: Newmark Cornish & Carey · Contact: (408) 727-9600 · Bought with: Joel Hopman · Newmark Cornish & Carey

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