4065 2nd Street, Palo Alto, California 94306, Palo Alto, 94306 - 3 bed, 1 bath
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Palo Alto, California 94306
This Palo Alto Development Asset is listed at $2,380,000—positioned well below the $2,394,560 Fair Market Value by 1%. This valuation gap provides $14,560 in Instant Equity. While currently in Dated Condition, the property includes pre-designed architectural plans for a 2,608 sqft luxury residence and ADU on a 5,000 sqft lot. Located in Charleston Meadow with access to top-rated Henry M. Gunn High School, the site offers immense forced appreciation potential and a private patio. This is a premier acquisition for Developers or Value-Add Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4065 2nd Street Subject | $2,380,000* List Price | 3 | 1 | 1,050 | $2,281 | - |
A 4065 2nd Street Sold | $2,408,000 | 3 | 1 | 1,050 | $2,293 | 0.0 mi |
B 26 Roosevelt Circle Sold | $2,537,500 | 3 | 2 | 1,114 | $2,278 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1952, this 72-year-old home is significantly dated, particularly the single bathroom which features older tile and fixtures. While the property has been 'refreshed' with new interior/exterior paint and landscaping to make it move-in ready, the core systems and small 3/1 footprint are well beyond the 20-year threshold for modern updates. The listing's heavy focus on 'new construction potential' and 'expansion' confirms it is a candidate for major renovation or replacement.
Situated in the desirable Charleston Meadow neighborhood with access to top-rated Henry M. Gunn High School, ensuring long-term asset appreciation and high desirability.
The property includes pre-designed architectural plans for an expansion or a new luxury 2-story home with an ADU, significantly streamlining the path for future value-add projects.
Recently refreshed with new interior/exterior paint and low-maintenance landscaping, providing a clean, functional space for immediate occupancy while planning future upgrades.
The property was recently sold within the past year on 2025-11-03. The sold price is $2,408,000.00.
With only 1,050 square feet and a single bathroom, the current layout is undersized for many modern families, likely requiring immediate further investment to meet standard living requirements.
The $2.38M list price for a 5,000 sqft lot represents a high cost of entry, reflecting that the value is primarily in the land and development potential rather than the existing structure.
Rare opportunity to secure prime lot with exceptional expansion or new construction potential. Located in the highly desirable Charleston Meadow neighborhood of Palo Alto with access to top-rated Henry M. Gunn High School. The home has been refreshed with interior & exterior paint throughout, low maintnance landscaped yards, easily move-in ready with light cosmetic remodeling, design it with the style best match your taste. Seller has already partnered with architect to provide thoughtfully designed addition and new construction proposals, offering three tailored pathways to match your vision and timeline: 1. Move-in with a quick cosmetic remodel that suits your style. 2. Expand ~751sqft Addition: Enhance the existing home with a proposed ~751 sqft addition, creating a single-story 4 bed, 3 bath residence totaling ~1,801 sqft living space. 3. Rebuild new construction: Build a brand-new 2-story luxury home (~2,608 sqft total living), featuring a 4 bed, 3 bath main residence plus an attached 1 bed, 1 bath ADU (~578 sqft). A unique opportunity combining move-in readiness, top-tier schools, and clearly defined development pathwaysallowing you to live, expand, or build new in one of Palo Altos most sought-after neighborhoods.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 44% |
| Baths | 1.0 | 2.5 | 9% |
| Square foot | 1,050 | 1,793.5 | 6% |
| Lot Size | 5,000 | 7,048.5 | 12% |
| Price | $2.38M | $3.50M | 3% |
| Price per sq ft | $2.3K | $2.0K | 71% |
| Built year | 1952 | 1953 | 47% |
| HOA | $0 | $0 | 50% |
| Days on market | 7 | 119 | 3% |
Apr 15, 2026
$2,380,000
Initial Listing
Nov 3, 2025
$2,408,000
Public Record