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2735 Byron Street, Palo Alto, California 94306, Palo Alto, 94306 - bed, bath

2735 Byron Street, Palo Alto, California 94306 home-pic-0
ACTIVE$2,500,000$3,263/sqft
2735 Byron Street, Palo Alto, California 94306
0Bed
0Bath
3,263Sqft
6,899Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: Middle School: Jane Lathrop Stanford Middle School (9/10). High School: Palo Alto High School (9/10).
Top Cons:
Outdated Interior Finishes: Units feature original hardwood floors, kitchen cabinetry, and countertops, indicating a need for significant interior renovations to achieve market-leading rents and tenant appeal.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1953 (73 years old).
Condition: Built in 1953, this property has received some important updates like a newer roof (2011), dual-pane windows, and a repaved driveway (2021), with electrical panel upgrades in progress. However, the interior, particularly the kitchens and bathrooms, are significantly outdated, retaining original cabinetry, countertops, and older fixtures (e.g., pink tiled bathroom, original kitchen finishes). While functional and maintained, these areas require substantial cosmetic renovations to meet modern standards, aligning with the 'Fair' condition criteria.
Year Built
1953
Close
-
List price
$2.5M
Original List price
$2.5M
Price/Sqft
$766
HOA
-
Days on market
-
Sold On
-
MLS number
ML82030788
Home ConditionFair
Features
Patio
View-

About this home

Positioned on a desirable cul-de-sac in Palo Alto's Midtown neighborhood, this well-located multifamily asset offers a rare opportunity to own in one of Silicon Valley's most sought-after rental markets. The property consists of 4 residential units with a marketable mix of (1) 3BD/2BA owner's unit, (2) 1BD/1BA units, and (1) studio, along with a coin-operated laundry facility providing additional income. Tenants enjoy convenient access to Downtown Palo Alto's dining, retail, nightlife, and cultural amenities, while remaining less than two miles from Stanford University and the city's core. The building encompasses approximately 3,263 SF on a 6,899 SF lot. Parking is above average for the submarket, featuring four tuck-under parking spaces, all assigned to tenants. Recent improvements include dual-pane windows, a newer roof installed in 2011, and a repaved driveway completed in 2021. The property is in the process of upgrading mail and electrical sub-panels. Units retain original hardwood floors, kitchen cabinetry, and countertops, offering value-add potential. Unit 2735 is a 3BD/2BA owners unit featuring a private patio, spacious living area, and forced-air heating. Current ownership pays water, trash, and sewer; new ownership may explore implementing RUBS to enhance income.

T
Tony Zizzo
Listing Agent

Nearby schools

8/10
El Carmelo Elementary School
Public,•K-5•0.5mi
9/10
Jane Lathrop Stanford Middle School
Public,•6-8•0.9mi
9/10
Palo Alto High School
Public,•9-12•1.6mi
9/10
Henry M. Gunn High School
Public,•9-12•2.2mi
Condition Rating
Fair
Built in 1953, this property has received some important updates like a newer roof (2011), dual-pane windows, and a repaved driveway (2021), with electrical panel upgrades in progress. However, the interior, particularly the kitchens and bathrooms, are significantly outdated, retaining original cabinetry, countertops, and older fixtures (e.g., pink tiled bathroom, original kitchen finishes). While functional and maintained, these areas require substantial cosmetic renovations to meet modern standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Great Schools: Middle School: Jane Lathrop Stanford Middle School (9/10). High School: Palo Alto High School (9/10).
Prime Silicon Valley Location: Situated on a desirable cul-de-sac in Palo Alto's Midtown, offering convenient access to Downtown amenities and Stanford University, appealing to a broad tenant base.
Robust Investment Potential: A multifamily asset in Silicon Valley's competitive rental market, providing a rare opportunity for stable income and long-term appreciation.
Diverse Unit Mix & Ancillary Income: Features a marketable mix of four units (3BD/2BA, 1BD/1BA, studio) and a coin-operated laundry facility, enhancing income diversity and cash flow.
Recent Capital Upgrades & Ample Parking: Benefits from dual-pane windows, a 2011 roof, 2021 repaved driveway, and ongoing electrical/mail panel upgrades, complemented by above-average tuck-under parking.
Access to Highly-Rated Schools: Located within the esteemed Palo Alto Unified School District, with top-rated elementary, middle, and high schools nearby, increasing desirability for families.

Cons

Outdated Interior Finishes: Units feature original hardwood floors, kitchen cabinetry, and countertops, indicating a need for significant interior renovations to achieve market-leading rents and tenant appeal.
Sub-Optimal Utility Expense Structure: Current ownership covers water, trash, and sewer, which impacts net operating income. Implementing a Ratio Utility Billing System (RUBS) would require effort and potential tenant adjustments.
Age-Related Maintenance Considerations: As a 1953-built property, despite recent upgrades, potential buyers should anticipate ongoing maintenance and possible future capital expenditures associated with an older building's systems and structure.
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