
Palo Alto, California 94301
This 1955 triplex represents a Strong Value Opportunity, listed at $2,200,000—positioned well above the $2,093,276 Fair Market Value by -5%. While the property requires modernization given its Condition Rating of 4, it offers significant potential for value-add renovations. Located in the Palo Alto Unified School District near the Caltrain station, this asset features a private patio and versatile unit mix. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2571 Alma Street Subject 0 bd · 0 ba · 1,822 sqft · $1,149 | $2,200,000* List Price | 0 | 0 | 1,822 | $1,149 | - |
A 1751 Alma Street Active Under Contract 0 bd · 0 ba · 1,716 sqft · $1,100 · 0.7 mi | $1,888,000 List Price | 0 | 0 | 1,716 | $1,100 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1955, this triplex is described as well-maintained and appears move-in ready with refinished hardwood floors and fresh paint. However, based on the age (>60 years) and lack of evidence regarding recent major renovations to kitchens, bathrooms, or core systems (HVAC/Electric), it is classified as dated and likely requires modernization to meet current market standards.
Situated just moments from California Avenue and the Caltrain station, the property offers exceptional walkability to dining, shopping, and easy commuting to major Silicon Valley employers.
The triplex configuration allows for multiple strategies, including pure investment, multi-generational living, or an owner-occupant looking to significantly offset their mortgage with rental income.
Located within the highly sought-after Palo Alto Unified School District, the property benefits from sustained high demand and long-term value appreciation.
Built in 1955, the property may require capital improvements or updates to major systems to maintain modern rental standards and efficiency.
With only 1,822 total square feet divided among three units, the individual residences are relatively small, which may limit the rental ceiling compared to larger modern units.
A rare opportunity just moments from California Avenue and the California Avenue Caltrain station, 2571 Alma Street is a well-maintained Palo Alto triplex offering flexibility, income potential, and an exceptional location. The property features three residencesa two-bedroom, one-bath unit with large private patio and two one-bedroom, one-bath unitseach with dedicated parking. Ideal for investors, multi-generational living, or an owner-occupant looking to offset their mortgage with rental income, the property offers multiple possibilities for both immediate use and long-term value. Its versatile unit mix makes it an attractive addition to a rental portfolio or a unique opportunity to live in one unit while generating income from the others. Enjoy convenient access to the shops, restaurants, and cafés along California Avenue, nearby Caltrain, and major Silicon Valley employers. A compelling opportunity to own a multi-unit property in one of the Bay Areas most desirable markets.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,822 | 2,730.5 |
| Lot Size | 6,052 | 6,525.333 |
| Price | $2.20M | $2.83M |
| Price per sq ft | $1.2K | $1.1K |
| Built year | 1955 | 1957 |
| HOA | $0 | $0 |
| Days on market | 39 | 69 |
Sep 15, 2026
$2,200,000
Initial Listing
Jul 29, 2008
$1,010,000
Public Record