1901 Cooley Ave Palo Alto, CA 94303
- Apartment buildings
- 3,000 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1901 Cooley Ave
- Year built
- 1946
- Property size
- 3,000 SF
- Property type
- Apartment buildings
Description
This exceptional East Palo Alto investment opportunity presents a well-maintained four-unit apartment building at 1901 Cooley Ave, situated on a spacious 7,274 square foot corner lot. The property boasts a strong 100% occupancy rate as of September 27, 2024, generating a substantial Net Operating Income (NOI) of $76,431, translating to a compelling 5.48% capitalization rate. The building, constructed in 1946, comprises two stories and features a mix of unit types: two oversized one-bedroom, one-bathroom units and two studio apartments. Each unit enjoys access to a private yard, enhancing tenant appeal. Ample parking is provided with eight spaces, including two garages, one equipped with washer/dryer hookups. The property's prime location offers convenient access to downtown Palo Alto's vibrant amenities, blending urban convenience with suburban tranquility. With a total square footage of 3,000 net rentable square feet, the asking price is $1,395,000, or $465 per square foot and $348,750 per unit. The property's APN is 063-481-210. This presents a rare chance to acquire a stable, high-performing multifamily asset in a highly desirable Silicon Valley location. Detailed financial information is available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palo Alto
- County
- San Mateo
- State
- California
- Longitude
- -122.139
- Latitude
- 37.4558
