827 University Ave - Apartments FOR SALE


Palo Alto, CA 94301- Crescent Park
$5,200,000 USD
408-483-5040
827 University Ave, Palo Alto, CA for Sale
$5,200,000 USD
Apartments - FOR SALE
1/15
null | 3.34% Cap Rate

827 University Ave
Palo Alto, CA 94301
Crescent Park


HIGHLIGHTS

  • Prime Location: A rare seven-unit multifamily community located within walking distance to Downtown Palo Alto and Stanford University.
  • Historic Charm & Modern Living: The property features a beautifully converted 1900's mansion and five additional one-bedroom units.
  • Exceptional Value: Priced at $742,857 per unit, significantly below the average single-family home price of $4,230,865 within a mile.
  • Strong Investment Potential: A value-add property offering immediate cash flow and long-term capital growth in a high-demand market.

OVERVIEW

Jimmy Castellanos is excited to introduce an extraordinary opportunity to acquire a rare seven-unit multifamily community within walking distance of vibrant Downtown Palo Alto. The property comprises a historic 1900s-era mansion, converted over the past sixty years into a duplex, and five additional one-bedroom units built in 1955. The front mansion includes a two-bedroom, one-bathroom unit and a three-bedroom, two-bathroom unit, each rich in character and offering tenants a unique living experience. In the back, the five one-bedroom units provide cozy, private living spaces. The property also offers six private garages, three private backyards, and multiple storage units, enhancing its appeal and functionality. At a listing price of $5,200,000, which equates to $742,857 per unit, this is a rare opportunity to acquire a property in Palo Alto at a fraction of the cost of local single-family homes.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$825 USD /SF

# OF UNITS

7

PRICE/UNIT

$742,857

CAP RATE

3.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

RM30

APN/PARCEL ID

003-03-018

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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