1111 Alma Street, Palo Alto, California 94301, Palo Alto, 94301 - 3 bed, 2 bath
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Palo Alto, California 94301
This Versatile Residential Compound is a strategic asset listed at $2,698,000—positioned well below the $2,709,547 Fair Market Value by 1%. This valuation offers $11,547 in Instant Equity. Boasting an Excellent Condition Rating from a recent high-end renovation, the home features a private deck and a unique multi-unit layout with two detached structures. Located in the elite Palo Alto Unified School District, the property provides exceptional flexibility for rental income or multigenerational living. It is perfectly suited for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1111 Alma Street Subject | $2,698,000* List Price | 3 | 2 | 1,107 | $2,448 | - |
A 759 Cowper Street Sold | $3,008,000 | 2 | 1 | 1,400 | $2,149 | 0.5 mi |
B 560 Addison Avenue Sold | $2,800,000 | 2 | 2 | 1,276 | $2,194 | 0.5 mi |
C 1555 Alma Street Pending | $2,880,000 List Price | 3 | 2 | 1,316 | $2,188 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1923, the property has undergone a complete high-end renovation within the last 5 years. The interior features a modern kitchen with stainless steel appliances and designer tile, updated bathrooms with contemporary fixtures, new flooring, recessed lighting, and modern HVAC systems. The exterior and landscaping are also in mint, turnkey condition.
The unique compound configuration, featuring a partitioned main house and two additional detached structures, offers exceptional flexibility for rental income, guest housing, or multigenerational living.
Situated in the prestigious 94301 zip code and served by the top-tier Palo Alto Unified School District, the property is positioned in one of the most resilient and sought-after real estate markets globally.
The property maximizes its 5,600 sqft lot by providing multiple distinct living and work spaces, a rare find in Palo Alto that caters perfectly to the modern Silicon Valley lifestyle.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1107, other record living area = 936.
With only 1,107 square feet of living space at a $2.698M price point, the property commands a significant premium that may be difficult for buyers focused on interior scale to justify.
Built in 1923, the age of the primary structure may necessitate higher maintenance costs or additional capital investment for modern upgrades compared to newer builds in the area.
We are very pleased to present a truly unique residential compound that redefines the standard for flexible living in Palo Alto. The property features a 3-bedroom / 2-bathroom main residence, which has been walled off to create a 2-bedroom / 1-bathroom, and an attached 1-bedroom / 1-bathroom with it's own entrance. This is complemented by two additional detached structures. This rare configuration offers a level of versatility seldom found in the local market, making it an ideal acquisition for buyers looking to maximize both utility and long-term property value. The property's primary appeal lies in its versatility. The two auxiliary structures provide a turnkey solution for a variety of modern living needs, whether you are hosting a multigenerational family or seeking consistent rental income in a high-demand zip code. The ability to separate work, guest, and living spaces within a single lot offers a level of privacy and adaptability that is increasingly essential for the Silicon Valley lifestyle. This is more than a home; it is a strategic asset in one of the worlds most resilient real estate markets. By combining a prime location with a high-density, multi-unit layout, this property represents a premier opportunity for the discerning investor or homeowner.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,107 | 2,057 | 20% |
| Lot Size | 5,600 | 5,625 | 49% |
| Price | $2.70M | $4.20M | 14% |
| Price per sq ft | $2.4K | $2.2K | 57% |
| Built year | 1923 | 1923 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 55 | 98 | 29% |
Apr 19, 2026
$2,698,000
$2,750,000
-2% Price Drop
Initial Listing
Mar 13, 2026
$2,750,000
$2,888,000
-5% Price Drop
Initial Listing
Feb 26, 2026
$2,888,000
Initial Listing
Oct 31, 2022
$2,375,000
Public Record
Feb 25, 2016
$1,908,000
Public Record
Jun 1, 2006
$788,000
Public Record