321317 Alma Street, Palo Alto, California 94306, Palo Alto, 94306 - bed, bath
ACTIVE$2,400,000
321317 Alma Street, Palo Alto, California 94306
0Bed
0Bath
1,837Sqft
6,248Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Investment Opportunity: Explicitly marketed as 'The perfect investment opportunity!' with three fully leased units, ensuring immediate and stable cash flow for an investor.
Top Cons:
Age of Structure: Built in 1958, despite remodeling, the underlying infrastructure (e.g., plumbing, electrical, foundation) may be original or require significant future capital expenditures.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1958 (67 years old).
Condition: Despite being built in 1958, the property has undergone extensive and recent renovations, as evidenced by the 'beautifully remodeled' description and the provided images. The kitchens feature new shaker-style cabinets, quartz or butcher block countertops, modern stainless steel appliances (including refrigerators, dishwashers, and ranges), and contemporary fixtures. Bathrooms are updated with modern vanities, sinks, and lighting. Throughout the units, there is new flooring (hardwood, laminate, or tile), fresh paint, modern light fixtures, and updated mini-split HVAC systems. The exterior also appears freshly painted with newer windows and doors, indicating a comprehensive update that meets current quality standards.
Year Built
1958
Close
-
List price
$2.4M
Original List price
$2.4M
Price/Sqft
$1,306
HOA
-
Days on market
-
Sold On
-
MLS number
ML82024810
Home ConditionExcellent
Features
View-
About this home
Three beautifully remodeled and meticulously maintained apartments, fully leased to high quality tenants! Conveniently located close to California Ave, University Ave, Stanford, Cal-train, and much more. The perfect investment opportunity!
Condition Rating
Excellent
Despite being built in 1958, the property has undergone extensive and recent renovations, as evidenced by the 'beautifully remodeled' description and the provided images. The kitchens feature new shaker-style cabinets, quartz or butcher block countertops, modern stainless steel appliances (including refrigerators, dishwashers, and ranges), and contemporary fixtures. Bathrooms are updated with modern vanities, sinks, and lighting. Throughout the units, there is new flooring (hardwood, laminate, or tile), fresh paint, modern light fixtures, and updated mini-split HVAC systems. The exterior also appears freshly painted with newer windows and doors, indicating a comprehensive update that meets current quality standards.
Pros & Cons
Pros
Prime Investment Opportunity: Explicitly marketed as 'The perfect investment opportunity!' with three fully leased units, ensuring immediate and stable cash flow for an investor.
Exceptional Location: Strategically located in Palo Alto, close to major hubs like California Ave, University Ave, Stanford, and Cal-train, enhancing tenant demand and property value appreciation.
Turnkey Condition: The apartments are described as 'beautifully remodeled and meticulously maintained,' suggesting minimal immediate capital expenditure for a new owner.
Stable Income Stream: Currently 'fully leased to high quality tenants,' providing a reliable and consistent rental income from day one.
Multi-Unit Property: As a triplex, the property offers diversified income streams, reducing vacancy risk and potentially yielding higher returns compared to single-unit investments.
Cons
Age of Structure: Built in 1958, despite remodeling, the underlying infrastructure (e.g., plumbing, electrical, foundation) may be original or require significant future capital expenditures.
Lack of Financial Details: The listing does not provide specific rental income, expense details, or lease terms, which are crucial for a comprehensive investment analysis and due diligence.
Potential for Rent Control/Tenant Laws: Located in Palo Alto, California, the property may be subject to local rent control ordinances or stringent tenant protection laws, potentially impacting future rent growth and management flexibility.