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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

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.
More about this property
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