231241 Churchill Avenue, Palo Alto, California 94301, Palo Alto, 94301 - bed, bath
ACTIVE$13,888,000
231241 Churchill Avenue, Palo Alto, California 94301
0Bed
0Bath
4,474Sqft
20,000Lot
Year Built
1941
Close
-
List price
$13.89M
Original List price
$13.89M
Price/Sqft
$3,104
HOA
-
Days on market
-
Sold On
-
MLS number
ML82013668
Home ConditionPoor
Features
View-
About this home
We found 3 Cons,5 Pros.
Rare opportunity to own a special property on a large lot in prestigious Old Palo Alto. The property features 4 cottages on an expansive flat 20,000 sq ft lot with mature trees. Each home has 2 bedrooms and 1 bath, outdoor private and fenced space and detached garages. This property gives you steady income while exploring its full of opportunites. Top rated Palo Alto Schools. Nearby Gamble Gardens, Rinconada Park, Town & Country Village, Palo Alto High School, Tech companies, Stanford University, Stanford Mall, Stanford Hospital, Downtown Palo Alto, California Ave. shopping district with easy access to major highways. Buyer to verify with City for development guidelines, schools and square footage.
Price History
Date
Event
Price
07/07/25
Listing
$13,888,000
Condition Rating
Poor
The property was built in 1941, making it over 80 years old. Despite being described as income-generating, the complete absence of interior photos, particularly of kitchens and bathrooms, strongly suggests these areas are significantly outdated and not a selling point. The listing emphasizes the large lot and 'opportunities,' implying the primary value lies in the land and its redevelopment potential, rather than the existing structures. While currently livable, the cottages likely require substantial repairs, rehabilitation, and system upgrades (electrical, plumbing, HVAC) to meet modern living standards, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Prime Location & Desirable Neighborhood: Situated in prestigious Old Palo Alto, the property benefits from proximity to top-rated Palo Alto Schools, Stanford University, major tech companies, and vibrant shopping districts like Town & Country Village and California Ave., ensuring high demand and appreciation potential.
Significant Development Potential: The expansive, flat 20,000 sq ft lot offers a rare opportunity for substantial redevelopment or expansion in a highly sought-after area, explicitly highlighted for its 'full of opportunities' and the need to verify city development guidelines.
Immediate Income Generation: Featuring four existing cottages, each with 2 bedrooms and 1 bath, the property provides steady rental income, offering financial stability and offsetting holding costs while future plans are considered.
Versatile Property Use: With four separate cottages and a 'Mixed Use' sub-type, the property offers exceptional flexibility for various strategies, including continued rental, multi-generational living, or a comprehensive redevelopment project.
Top-Tier School District: Located within the highly acclaimed Palo Alto Unified School District, including Palo Alto High School, which is a significant draw for families and a strong contributing factor to property value.
Cons
Age and Condition of Existing Structures: Built in 1941, the four cottages are likely dated and may require significant renovation, modernization, or demolition, depending on the buyer's ultimate vision for the property.
High Barrier to Entry (Price): The substantial list price of nearly $14 million limits the potential buyer pool to ultra-high-net-worth individuals or large-scale developers, potentially extending market time.
Development Due Diligence & Complexity: While offering development potential, the explicit need for buyers to 'verify with City for development guidelines' indicates a potentially complex, time-consuming, and costly process with inherent uncertainties regarding zoning, permits, and final project scope.