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    500 Palo Alto Ave Palo Alto, CA 94301

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    For Sale
    $4,800,000

    Trophy asset in prime Palo Alto location with upside potential.

    Property size:
    6,442 SF

    Property Features for 500 Palo Alto Ave

    General Information

    Standard status
    Active
    Size
    6,442 SF

    Building Details

    Year built
    1958

    Source: COMPASS Agent MATTHEW THOMSON

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Palo Alto Multifamily Investment

    This multifamily property is located in downtown Palo Alto, within walking distance of shopping, dining, and entertainment amenities on University Avenue. The property benefits from its proximity to Stanford University and major employers such as Google, Meta, and Palantir. The unit mix includes six two-bedroom/one-bath units and two one-bedroom/one-bath units. Numerous recent upgrades have been made, including interior updates to at least half of the units with updated kitchen countertops and bathrooms. The property features a pool and courtyard area, on-site laundry facility, and garage parking for all tenants. Each unit has forced air heating, and many furnaces have been replaced in recent years. The water heaters were recently replaced in 2023 and 2025. The property has all copper plumbing and a composition shingle roof installed in 2010. There is potential to add two ADUs by converting the garage parking into new units. The property is situated in a supply-constrained submarket of Silicon Valley, making it attractive to both residents and investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palo Alto
    County
    Santa Clara
    State
    California
    Longitude
    -122.1648706
    Latitude
    37.4520559

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    FAQs

    What type of property is this?
    Apartment building - Trophy asset in prime Palo Alto location with upside potential.
    Where is this apartment building located?
    The property is located at 500 Palo Alto Ave Palo Alto, CA.
    What is the asking price?
    The asking price for this property is $4,800,000.
    What are key features of this property?
    This property features: - Irreplaceable downtown Palo Alto location, walking distance to University Avenue's shopping, dining, and entertainment.; - Strong rental income with significant upside potential through further unit renovations and ADU development.; - Excellent unit mix of (6) 2-bedroom and (2) 1-bedroom apartments.
    (415) 874-5000
    Request Owner's contact information
    500 Palo Alto Ave Palo Alto, CA 94301
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    500 Palo Alto Ave
    Palo Alto, CA 94301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    500 Palo Alto Ave Palo Alto, CA 94301
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