Duplex with Private
For Sale
$1,060,000
1815 Woodland Avenue, East Palo Alto, CA 94303
Two large 2-bedroom, 1-bath units each feature an attached garage and private yard.
Property Size2,073 SF
Days on Market39
Property Features for 1815 Woodland Avenue
General Information
Standard status
Active
Size
2,073 SF
Property subtype
Multi Family Home
Building Details
Building Size
2,073 SF
Year Built
1957
Listing Agency:
Compass
(650) 868-0738
Listed By:
Scott Kilpatrick · License #01271912
(650) 868-0738
Source:
Brucebaldwin
Added: Jun 29
Changed: Jul 28
Last Checked: Aug 6 at 12:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This charming duplex offers two oversized units, each with two bedrooms and one bath. Both units include attached garages and washer/dryer hookups, along with private yards.
The property is located west of 101 and south of University Ave in an up-and-coming neighborhood in East Palo Alto, with easy access to 101 and University Ave and the surrounding Palo Alto and Stanford area amenities.
Each unit is configured as a separate residence within the duplex, creating a straightforward income-producing layout with attached parking and outdoor private space.
The property is located west of 101 and south of University Ave in an up-and-coming neighborhood in East Palo Alto, with easy access to 101 and University Ave and the surrounding Palo Alto and Stanford area amenities.
Each unit is configured as a separate residence within the duplex, creating a straightforward income-producing layout with attached parking and outdoor private space.
Key Highlights
- 1957‑built duplex featuring two oversized 2‑bedroom, 1‑bath units
- Each unit includes an attached garage
- Washer/dryer hookups available in each unit
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
Current Use
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two large 2-bedroom, 1-bath units each feature an attached garage and private yard.
Where is this duplex located?
The property is located at 1815 Woodland Avenue 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: 1957‑built duplex featuring two oversized 2‑bedroom, 1‑bath units; Each unit includes an attached garage; Washer/dryer hookups available in each unit
