Two-Unit Duplex with Private
For Sale
$1,060,000
1815 Woodland Avenue, East Palo Alto, CA 94303
Built in 1957, the property offers two two-bedroom units with attached garages and laundry hookups.
Property Size2,073 SF
Price / SF$511.34
Days on Market23
Property Features for 1815 Woodland Avenue
General Information
Standard status
Active
Size
2,073 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
private yards
Building Details
Year Built
1957
Listing Agency:
Compass
(650) 868-0738
Listed By:
Scott Kilpatrick · License #01271912
(650) 868-0738
Source:
Exitrealty
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 29 at 1:23PM
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 2,073-square-foot duplex contains two oversized two-bedroom, one-bath units. Each residence includes an attached garage, washer and dryer hookups, and a private yard. One bathroom has recently received new improvements. Constructed in 1957, the property provides a defined two-unit configuration with individual residential outdoor areas and garage parking.
The property is positioned west of 101 and south of University Avenue in East Palo Alto. It offers access to Highway 101 and University Avenue, with Palo Alto and the Stanford campus nearby. Retail, restaurants, employment centers, and other services in the Palo Alto area are also accessible from the property.
The property is positioned west of 101 and south of University Avenue in East Palo Alto. It offers access to Highway 101 and University Avenue, with Palo Alto and the Stanford campus nearby. Retail, restaurants, employment centers, and other services in the Palo Alto area are also accessible from the property.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a duplex
- 2,073 square feet on an East Palo Alto property built in 1957
- Attached garage serving 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
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 - Built in 1957, the property offers two two-bedroom units with attached garages and laundry hookups.
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: Two 2‑bedroom, 1‑bath units within a duplex; 2,073 square feet on an East Palo Alto property built in 1957; Attached garage serving each unit
