165 Forest Avenue 4b, Palo Alto, California 94301, Palo Alto, 94301 - 2 bed, 2 bath
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Palo Alto, California 94301
This Sophisticated Downtown Condominium is a Strong Value Opportunity, listed at $1,596,000—positioned well below the $1,695,000 Fair Market Value by 5%. This valuation gap provides $99,000 in Instant Equity for the incoming owner. Boasting a Mint Condition Rating following a high-quality recent renovation, the home features a modern kitchen, private walk-out balcony, and rare two-car deeded parking. Located in the elite Palo Alto Unified School District steps from University Avenue, it balances lifestyle luxury with significant financial upside. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 165 Forest Avenue 4b Subject | $1,546,000* List Price | 2 | 2 | 1,334 | $1,103 | - |
A 685 High Street 5a Sold | $1,695,000 | 2 | 3 | 1,530 | $1,108 | 0.0 mi |
B 716 Ramona Street Sold | $1,557,000 | 2 | 1 | 1,042 | $1,494 | 0.1 mi |
C 101 Alma Street 407 Sold | $1,495,000 | 2 | 2 | 1,444 | $1,035 | 0.5 mi |
D 101 Alma Street 908 Sold | $1,500,000 | 2 | 2 | 1,491 | $1,006 | 0.5 mi |
E 483 Forest Avenue C Active | $1,675,000 List Price | 2 | 2 | 1,613 | $1,038 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1981, the unit has undergone a high-quality recent renovation within the last 5 years. It features a modern kitchen with stainless steel appliances and stone countertops, updated bathroom vanities, and brand-new carpet and paint throughout, presenting in mint, move-in-ready condition.
Situated in the heart of downtown Palo Alto, this property offers an ultra-walkable lifestyle just steps from University Avenue, Caltrain, Whole Foods, and Stanford University.
The inclusion of two independent deeded parking spaces and a large private locked storage unit provides exceptional convenience and value rarely found in a downtown condominium.
The open-concept floor plan is enhanced by Juliet balconies in every room and a private walk-out balcony, ensuring a bright, airy atmosphere throughout the home.
The monthly association fee of $1,031 is significant and may be a deterrent for buyers sensitive to ongoing carrying costs.
Built in 1981, the property may require additional capital improvements or modernizations beyond the recent paint and carpet to compete with newer luxury developments.
Rare opportunity to own in the heart of downtown Palo Alto. This light-filled 2-bedroom, 2-bath condominium offers open-concept living just steps from everything that makes Palo Alto exceptional. Freshly painted with new carpet throughout, the home features an airy living and dining space that opens to a private walk-out balcony, plus Juliet balconies in every room that draw in abundant natural light and fresh air. The thoughtful floor plan provides excellent separation of space, ideal for both daily living and guests. Two independent deeded parking spaces and a large private locked storage unit offer rare convenience in this downtown setting. Step outside and you are moments from University Avenue and the area's acclaimed restaurants and cafés, close to Caltrain, two minutes from Whole Foods, and within easy reach of Stanford University. Leave the car behind and embrace a truly walkable lifestyle in one of the most sought-after neighborhoods in Silicon Valley. There is something almost divine about the simplicity of living exactly where you want to be. 165 Forest Avenue, Unit 4B delivers that rare combination of location, light, and livability in the center of it all.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,334 | 1,491 | 33% |
| Lot Size | - | - | 50% |
| Price | $1.55M | $1.56M | 44% |
| Price per sq ft | $1.2K | $1.2K | 50% |
| Built year | 1981 | 1981 | 50% |
| HOA | $1031.0 | $1.0K | 33% |
| Days on market | 94 | 91 | 67% |
May 25, 2026
$1,546,000
$1,596,000
-3% Price Drop
Initial Listing
Apr 8, 2026
$1,596,000
$1,695,000
-6% Price Drop
Initial Listing
Mar 4, 2026
$1,695,000
Initial Listing
Mar 25, 2016
$1,510,000
Public Record