235 Alma Street, Palo Alto, California 94301, Palo Alto, 94301 - 3 bed, 4 bath
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Palo Alto, California 94301
This Versatile Downtown Palo Alto Residence is listed at $4,988,000, positioned at its $4,921,722 Fair Market Value. Boasting an Excellent Condition Rating after a comprehensive high-end renovation, the property features a modern chef's kitchen, wide-plank flooring, and a unique high-bay rear building with a glass roll-up door. Located in the elite Palo Alto Unified district near Palo Alto High School (9/10), the rare CD-N Zoning and SB 79 redevelopment potential provide exceptional long-term utility. This turnkey asset is an ideal match for Owner-Occupants or Professional Owner-Users.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 235 Alma Street Subject | $4,988,000* List Price | 3 | 4 | 2,560 | $1,923 | - |
A 429 Ruthven Avenue Sold | $4,270,810 | 4 | 3 | 2,057 | $2,076 | 0.4 mi |
B 820 Hamilton Avenue Sold | $4,200,000 | 4 | 2 | 1,952 | $2,152 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Despite being built in 1904, the property has undergone a comprehensive, high-end renovation within the last 5 years. The interior features a modern chef's kitchen with premium stainless steel appliances, a large island, and stone countertops. The bathrooms are fully updated with contemporary tile work and fixtures. The home boasts new wide-plank flooring, recessed lighting, updated windows, and pristine landscaping, meeting all criteria for excellent condition with no visible deferred maintenance.
High School: Palo Alto High School (9/10).
The property's rare CD-N zoning allows for a diverse range of uses including residential, office, retail, or a mix, providing exceptional flexibility for investors or owner-users.
Situated in the heart of downtown Palo Alto, the property boasts a high walkability score to premium amenities and is served by top-rated schools, including Palo Alto High.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2560, other record living area = 1555.
Originally built in 1904, the property may require specialized maintenance or face structural limitations common to century-old buildings, despite recent updates.
The nearly $5 million asking price for a 5,625 square foot lot represents a high entry cost that may limit the buyer pool to specific commercial or high-density developers.
Two recently updated buildings in downtown Palo Alto zoned CD-N, which allows a multiplicity of uses: residential, office, retail, personal services [e.g., fitness center], and more or a mix of uses // Front house [2560 sf] has 3 bedrooms [or offices] and an open lower level [955 sf] that can accommodate a variety of personal or commercial uses // Rear building [1380 sf] is a brick clad high bay clear space with skylights, a wall of glass, and a glass roll up door: an open canvas for your creativity // Inviting landscape embraces the buildings // Walk to downtown amenities // Refer to SB 79 for high density redevelopment potential //
No exterior & parking available.
Grades K-5 • 0.9 mi
Grades 6-8 • 1.8 mi
Grades 9-12 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 4.0 | 3.0 | 60% |
| Square foot | 2,560 | 2,268 | 60% |
| Lot Size | 5,625 | 5,625 | 50% |
| Price | $4.99M | $4.27M | 63% |
| Price per sq ft | $1.9K | $2.2K | 29% |
| Built year | 1904 | 1923 | 17% |
| HOA | $0 | $0 | 50% |
| Days on market | 70 | 98 | 31% |
Feb 11, 2026
$4,988,000
Initial Listing
Dec 22, 2020
$2,600,000
Public Record