East Palo Alto Multifamily
For Sale
$3,000,000
Pending
Cooley Avenue, East Palo Alto, CA 94303
12-unit multifamily property in East Palo Alto with value-add potential.
Property Size6,132 SF
Lot Size0.63 Acres
Days on Market364
Property Features for Cooley Avenue
General Information
Standard status
Pending
Size
6,132 SF
Lot size
0.63 Acres
Property subtype
Commercial
Building Details
Year Built
1957
Listing Agency:
KW SANTA CLARA VALLEY INC
(408) 420-3368
Listed By:
SERGIO SANCHEZ · License #01422173
Source:
Corcoran
Added: Aug 8, 2025
Changed: Jul 10
Last Checked: Jul 23 at 9:59AM
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 KW SANTA CLARA VALLEY INC
Investment Insights
Based on property information with market context.
Located on the West Side in East Palo Alto, this property features 12 one-bedroom, one-bathroom units, complemented by 12 parking spaces. The sale includes two parcels. Part of the Woodland Park Multifamily Portfolio, this property is situated in a sought-after area of the Peninsula, between University Avenue and Embarcadero Road. The property is adjacent to Woodland Creek, marking the boundary between Crescent Park in Palo Alto and East Palo Alto. With convenient access to Highway 101, residents are close to Palo Alto and Menlo Park. This property offers an opportunity to add value to each unit. Located in an Opportunity Zone, the Woodland Park Portfolio offers potential for future growth and investment benefits. The property size is 6,132 square feet.
Key Highlights
- Located on the West Side in East Palo Alto, near the affluent Crescent Park neighborhood of Palo Alto.
- Portfolio includes 12: 1x1 units with 12 parking spaces.
- Two parcels included in the sale (APN 063‑513‑890 & APN 063‑513‑900).
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
$116,557
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
3.89%
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%
$2,331,140
$2.3M
Cap Rate 7%
$1,665,100
$1.7M
Cap Rate 9%
$1,295,078
$1.3M
Market Conditions
NOI Build-Up for 6,132 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
$220.8K $36.00/SF
− Vacancy
−$8.8K −$1.44/SF
EGI
$211.9K $34.56/SF
− OpEx
−$95.4K −$15.55/SF
NOI
$116.6K $19.01/SF
Area
Santa Clara County, CA
Vacancy
4.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,331,140
Cap Rate 7%
$1,665,100
Cap Rate 9%
$1,295,078
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.94M
NOI $116,557 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.70M
$3.24M – $4.32M
NOI $259,139 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
614
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?
Apartment building - 12-unit multifamily property in East Palo Alto with value-add potential.
Where is this apartment building located?
The property is located at Cooley Avenue East Palo Alto, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Located on the West Side in East Palo Alto, near the affluent Crescent Park neighborhood of Palo Alto.; Portfolio includes 12: 1x1 units with 12 parking spaces.; Two parcels included in the sale (APN 063‑513‑890 & APN 063‑513‑900).
