405 Kipling St - Apartments FOR SALE


Palo Alto, CA 94301- Downtown Palo Alto
$4,500,000 USD
650-888-7696
405 Kipling St, Palo Alto, CA for Sale
$4,500,000 USD
Apartments - FOR SALE
1/10
null | 2.1% Cap Rate

405 Kipling St
Palo Alto, CA 94301
Downtown Palo Alto


HIGHLIGHTS

  • Investors have the opportunity to acquire a well-situated asset located in prime Downtown Palo Alto.
  • 405 Kipling St benefits from its close proximity to Downtown Palo Alto and world class Stanford University.
  • Th subject property is walking distance to the campus of the Stanford University creating extremely strong rental demand from both students & faculty.
  • The subject property is located in a continuously ranked number one public school district throughout California.

OVERVIEW

405 Kipling St is an exceptional 6-unit investment opportunity located in the thriving city of Palo Alto, California. Situated on a 5,936 square foot parcel of land, the subject property was originally constructed in 1900 and has a gross building area of approximately 2,196 square feet, offering its tenants beautifully designed one-bedroom and studio floor plans. 405 Kipling St is well-positioned in one of the Bay Area’s most dynamic and desirable cities. With historic neighborhoods, diverse cultural attractions, and vibrant entertainment, shopping, and nightlife district, Palo Alto is an exciting destination for business or pleasure. Palo Alto was also recently ranked #6 on the livability list of “Top 100 Best Places to Live” in America. The subject property offers renters close proximity to many of the nation's top tech employers including Google, Apple, Facebook, Amazon, Varian Medical Systems, SAP, Oracle, Cloudera, Visa, Sony as well as many others. Downtown Palo Alto is also located within walking distance to the subject property and is home to many high-end retail stores and restaurants such as West Elm, NOBU, Restoration Hardware, and several others. The investment appeal of this asset is driven by Palo Alto’s incredibly strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 405 Kipling St is an attractive choice for Peninsula renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$923 USD /SF

# OF UNITS

6

PRICE/UNIT

$750,000

CAP RATE

2.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,936 SF

ZONING

CDC

APN/PARCEL ID

120-15-010

ASK ABOUT THIS PROPERTY

Cole SimpsonMarcus & MillichapMore Info
650-888-7696

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Cole SimpsonMarcus & MillichapMore Info
650-888-7696

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.