SOLD 05/04/2023
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Commercial sold for $7,032,319 in 51 days
1341 Stanford Ave Palo Alto, CA, 94306
Off the market Other
Once-in-a-lifetime opportunity to acquire an irreplaceable asset in Palo Alto (next to Stanford Univ.). 1341 Stanford (7 Homes), 2050 Hanover (6 Homes) available separately or together (13 Detached Homes). Individually-addressed, detached rental homes w/ front & backyards command higher rents compared to Apts. Low Operating Expense (tenants pay all utilities), low maintenance costs, and headache-free, easy management. Current CAP Rate (Avg Rent @ $3.4/SF): 2.11%/Current GRM: 25.7 AND Pro-Forma CAP Rate (Avg Rent @ $5/SF): 3.76%/Pro-Forma GRM: 17.6. High-End Remodel (Avg Rent @ $6/SF) CAP Rate: 4.77%/Pro-Forma GRM: 15.1. Cost/SF: $1,056/SF / Investors may consider modifying floorplans (add bedrooms & bath) and conduct high-end renovations of kitchen, bathrooms & fence up private backyards to achieve even higher rents. Potential for adding SF/expansion at back of property, also ADUs. Oversized Parcels offer tremendous future potential/possibilities. Co-Listed w/ Mark Zamudio
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Property details
6,490 sqft interior area
Land area
32,894 sqft (0.76 acres)
Address
1341 Stanford Ave, Palo Alto, CA, 94306
City of California
Palo Alto
County
Santa Clara
Year Built
1939
District
College
Nearby major retailers
Costco
7-Eleven
Public Storage
O'Reilly Auto Parts
Petco
GNC
Pet Food Express
T-Mobile
Ross
Ace Hardware
Apple Store
Tiffany & Company
Supercuts
Verizon Wireless
99cent Store & Over
GameStop
Trader Joe's
Walmart
Chevron
Kohl's
Neiman Marcus
Macy's
Nordstrom
The Home Depot
Whole Foods Market
AT&T
Safeway
CVS Pharmacy
Jiffy Lube
MetroPCS
Bloomingdale's
See's Candies
Staples
Walgreens
Wholesale: 1
Convenience: 10
Storage rental: 2
Car parts: 2
Pet: 3
Nutrition supplements: 2
Mobile phone: 13
Department store: 9
Do it yourself: 3
Electronics: 2
Jewelry: 1
Hairdresser: 2
Video games: 1
Supermarket: 9
Chemist: 3
Car repair: 3
Confectionery: 1
Stationery: 1
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Interior Features
Hardwood floors
Floor Covering
Hardwood
Appliances
Refrigerator
Listed by
Don Sung, Colliers Parrish International
Name
Don Sung
License number
01935797
Brokerage company
Colliers Parrish International
MLS #
ML81921599
Buyer agent
Name
Recip
Brokerage company
Out of Area Office
Payment calculator
Calculate your monthly payments
Mortgage
$21,591
Taxes
$0
HOA dues
$0
Mortgage
$1,406,464 / 20%
2.28%
30 years
Your amount
$21,591 / month
Lot details
TMK #13706075
Parcel nr.
13706075
94306 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 94306
51%
Families with children
National average: 39%
33%
Non family households
212,337
Population
$220,793
Average Income
Age & gender
Median age 39 years
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Commute types
72% commute by car
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Education level
38% have professional education
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Number of employees
4% work in management
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Vehicles available
39% have 2 vehicle
More info
Vehicles by gender
39% have 2 vehicle
More info
Housing market insights for
$3.26m
Neighborhood average
sales price*
sales price*
$3m
Neighborhood median
sales price*
sales price*
305
Number
of sales*
of sales*
Housing type
60% are single detacheds
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Rooms
33% of the houses have 4 or 5 rooms
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Bedrooms
52% have 2 or 3 bedrooms
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Owners vs Renters
56% are owners
More info
17.17 / 20
Most Walkable
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold May 4, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| May 4, 2023 | Sold | $7,032,319 | 0 | Public Record |
| May 4, 2023 | Price Increase | $7,032,319 +2.66% | 0 | MLS #ML81921599 |
| Apr 5, 2023 | Pending | $6,850,000 | 0 | MLS #ML81921599 |
| Mar 15, 2023 | New Listing | $6,850,000 | 0 | MLS #ML81921599 |
Taxes of 1341 Stanford Ave, Palo Alto, CA, 94306
R1 zoning / MLS #ML81921599
Zoning
R1
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Frequently Asked Questions about 1341 Stanford Ave
What is 1341 Stanford Ave?
1341 Stanford Ave is a Commercial/Industrial propertywith 6,490 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
1341 Stanford Ave, Palo Alto, CA, 94306.
What comparable properties are nearby?
Comparable nearby commercial properties include 487 James Rd, 2633 California St, 2010 California St, 695 E Taylor Ave, 1310-1340 Homestead Rd, 200 N Bascom.
Based on information from the bridgeMLS as of 05-18-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: May 09, 2023
Verhouse Last checked 3 minutes ago
The closest grocery stores are Khoury's Market, 0.54 miles away and Country Sun, 0.64 miles away.
The 94306 zip area has a population of 212,337, and 51% of the families have children. The median age is 39.6 years and 72% commute by car. The most popular housing type is "single detached" and 56% is owner.
