Duplex with Attached
For Sale
$1,060,000
1815 Woodland AVE, East Palo Alto, CA 94303
Residential Income (2-4 units), EAST PALO ALTO, CA
Property Size2,073 SF
Lot Size0.13 Acres
Price / SF$511.34
Days on Market41
Property Features for 1815 Woodland AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R20000
Bedrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3
Parking
3
Parking features
On Street, Garage - Attached, Offsite
Appliances
Cooktop - Electric, Dishwasher, Exhaust Fan, Oven Range
Subdivision
Woodland / Newell Area
Standard status
Active
Size
2,073 SF
Lot size
0.13 Acres
Utilities
Heating system
Wall Furnace
Water source
Public
Amenities
attached garage
washer/dryer hookups
private yards
Building Details
Year built
1957
Number of units
2
Flooring type
Hardwood, Linoleum, Carpet, Laminate
Roof type
Composition
Listing Agency:
Compass
(650) 462-1111
Listed By:
Scott Kilpatrick · License #01271912
(650) 868-0738
Added: Jul 15
Changed: Aug 21
Last Checked: Aug 24 at 1:06AM
MLS# ML82052520
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two oversized two-bedroom, one-bath units within a 2,073-square-foot building on a 0.1263-acre lot. Each residence includes an attached garage, washer and dryer hookups, and a private yard. Interior finishes include hardwood, linoleum, carpet, and laminate flooring, with wall-furnace heating. The property has a composition roof, public water service, and one unit with a new bathroom.
Located on Woodland Avenue in East Palo Alto, the property is west of US 101 and south of University Avenue. Access to US 101 and University Avenue connects the duplex with Palo Alto employment, retail, dining, and Stanford campus destinations. The property was built in 1957 and is zoned R20000.
Located on Woodland Avenue in East Palo Alto, the property is west of US 101 and south of University Avenue. Access to US 101 and University Avenue connects the duplex with Palo Alto employment, retail, dining, and Stanford campus destinations. The property was built in 1957 and is zoned R20000.
Key Highlights
- Two oversized two‑bedroom, one‑bath units
- Each unit includes an attached garage, washer/dryer hookups, and a private yard
- 2,073 square feet on 0.1263 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,212
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$924,240
$924.2K
Cap Rate 7%
$660,171
$660.2K
Cap Rate 9%
$513,467
$513.5K
Market Conditions
NOI Build-Up for 2,073 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$69.7K $33.60/SF
− Vacancy
−$3.6K −$1.75/SF
EGI
$66.0K $31.85/SF
− OpEx
−$19.8K −$9.55/SF
NOI
$46.2K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$924,240
Cap Rate 7%
$660,171
Cap Rate 9%
$513,467
Alternative Uses
Best Use
Multifamily LT 5
$660.2K
$577.7K – $770.2K
NOI $46,212 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$562.9K
$492.6K – $656.7K
NOI $39,404 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,605 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 94303, CA
48,281
Population
15,927
Households
3
Avg Household Size
35
Median Age
48%
College-Educated
85%
High-School Grad
8.4 sq mi
ZIP Area
5,748
Density / Sq Mi
$148,031
Median Household Income
$55,788
Median Earnings
$2,710
Median Rent
$1,825,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two oversized two-bedroom units offer private yards, laundry hookups, and separate attached garage space.
Where is this duplex located?
The property is located at 1815 Woodland AVE East Palo Alto, CA.
What is the asking price?
The asking price for this property is $1,060,000.
What are key features of this property?
This property features: Two oversized two‑bedroom, one‑bath units; Each unit includes an attached garage, washer/dryer hookups, and a private yard; 2,073 square feet on 0.1263 acres
