2609-2617 Alma Street, Palo Alto, CA 94306
Santa Clara County
Key Facts
Description
Incredible opportunity for an apartment investor to renovate all units day one. 2609 - 2617 Alma Street presents a rare chance to acquire a 4-unit multifamily property in one of Silicon Valleys most sought-after residential neighborhoods. Located steps from the California Avenue Caltrain Station, the property offers an investor a clear path to renovation and full market-rate stabilization with meaningful upside in a fundamentally supply-constrained market. Redevelopment path also available - Approved development entitlement for 4 detached 3-story townhomes (For Rent homes only - not For Sale project). California Ave, just a couple blocks away (10 min walk or 3 min bike using the pedestrian underpass), is Palo Alto's most historic shopping district, featuring numerous shopping, dining, and professional services. With the heart of Stanford University being just 3-miles away, it offers a wide variety of attractions and experiences, including the Stanford Oval, hiking at the Stanford dish trailhead, and Stanford sports facilities and arenas. The property is strategically surrounded by one of the strongest employment centers in the world, driven by technology, venture capital, healthcare, and higher education.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Year Built
1951
Living Area
2,232 sq ft
Lot Size
8,070 sq ft
Zoning
RM3
Days on Market
1
MLS® Listing#
ML82049055
Property Features
Heating
Sewer
Water Source
Financial Details
HOA
None
Parcel Number
13225057
Affordability Calculator
$500,000
Estimated monthly payment
$13,306/mo
Principal $2,000,000 · Est. interest $2,790,178 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Palo Alto, CA
- $1,000,000
- Median Listing Price
- 40
- Median Days on Market
- 1,586
- Median Sq Ft
- $1,251
- Median Price / Sq Ft
- 300
- Active Listings
- This home’s price is 150% above the area median.
- Its price per sq ft is 10% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Palo Alto, CA.
Location
- 2609-2617 Alma Street, Palo Alto, CA 94306
Points of Interest in Palo Alto, CA
Showing the Palo Alto area map.
Nearby Schools
El Carmelo Elementary School
Elementary · 0.4 mi away
Casa dei Bambini School
School · 0.5 mi away
Living Wisdom School
Secondary · 0.6 mi away
Stanford Chinese School
School · 0.6 mi away
Keys School
Secondary · 0.6 mi away
Khan Lab School
Elementary · 0.8 mi away
Classic Math School
School · 0.8 mi away
Greene Middle School
Secondary · 0.8 mi away
Stanford Madera
School · 0.8 mi away
The Coder School
School · 0.9 mi away
Ventura School
Elementary · 0.9 mi away
Stratford School
Elementary · 1.0 mi away
Spring Education Group
School · 1.0 mi away
Palo Alto Unified School District
School · 1.1 mi away
Jane Lathrop Stanford Middle School
Secondary · 1.1 mi away
Palo Alto High School Tennis Courts
Secondary · 1.1 mi away
Jackson Hearing Center
School · 1.1 mi away
Fairmeadow Elementary School
Elementary · 1.1 mi away
Escondido Elementary School
Elementary · 1.1 mi away
Walter Hays Elementary School
Elementary · 1.1 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 2861 Fordham Street, East Palo Alto, CA | $2,490,000 | 8 | — | 2,630 |
Moving Cost Estimate
EXIT Agents in Palo Alto
Listing Courtesy: Compass
Presented by: Matthew Thomson
IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.