685 High Street 5a, Palo Alto, California 94301, Palo Alto, 94301 - 2 bed, 3 bath
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Palo Alto, California 94301
This Renovated Penthouse Residence is a Strong Value Opportunity, listed at $1,695,000—positioned well below the $1,800,000 Fair Market Value by 5%. This valuation gap provides $105,000 in Instant Equity for the incoming owner. Boasting a Mint Condition Rating, the two-level home features vaulted ceilings, Western Hills views, and a modern chef's kitchen. Located in the heart of downtown near elite Palo Alto Unified Schools, it offers a premier walkable lifestyle. This is an exceptional acquisition for Owner-Occupants seeking luxury or Professionals prioritizing a high-demand Silicon Valley asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 685 High Street 5a Subject | $1,695,000* List Price | 2 | 3 | 1,530 | $1,176 | - |
A 111 Emerson Street Sold | $2,010,000 | 2 | 2 | 1,445 | $1,391 | 0.5 mi |
B 165 Forest Avenue 4b Active | $1,596,000 List Price | 2 | 2 | 1,334 | $1,196 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although built in 1981, the unit has undergone a high-end, comprehensive renovation within the last 5 years. The kitchen features sleek modern cabinetry, quartz countertops, and premium stainless steel appliances (Bosch/Samsung). The interior shows mint condition with updated flooring, recessed lighting, vaulted ceilings with skylights, and a modern electric fireplace, requiring no immediate maintenance.
Situated just one block from University Avenue and Whole Foods, this property offers an unbeatable lifestyle with immediate access to world-class dining, shopping, and the Caltrain station.
As a top-floor, two-level unit, the home features dramatic vaulted ceilings, skylights, and Western Hills views, providing a sense of volume and natural light rarely found in standard condominiums.
The property provides access to top-rated Palo Alto Unified schools, including Addison Elementary and Palo Alto High, which serves as a major driver for long-term property value and desirability.
The monthly HOA fee of $1,032 is substantial and may impact the overall affordability and debt-to-income ratios for prospective buyers.
Built in 1981, the building may lack the contemporary amenities of newer luxury developments, and the recent $105,000 price reduction indicates the property is still finding its footing in the current market.
Top floor, two-level penthouse unit featuring dramatic vaulted ceilings with skylights on the main level, open concept living, dining and gorgeous kitchen, and views of the Western Hills! Downtown Palo Alto living at its finest, this two bedroom, two-and-a-half bathroom home offers an unbeatable location just a block away from Whole Foods, Peet's Coffee, Pizzeria Delfina and the fantastic dining and shopping along University Ave. Stunning kitchen updated with sleek modern cabinetry, peninsula for extra counter space and pantry unit for storage. Additional comforts include a half bath on main level, in-unit washer dryer, building elevator, deeded storage unit and two parking spaces in the secure underground garage. Top-rated Palo Alto schools including Addison Elementary, Greene Middle School, and Palo Alto High School (Buyer to verify) and proximate to Caltrain and Highway 101 for easy commuting. This is a must-see!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 3.0 | 2.0 | 75% |
| Square foot | 1,530 | 1,487.5 | 50% |
| Lot Size | - | - | 50% |
| Price | $1.70M | $1.85M | 50% |
| Price per sq ft | $1.1K | $1.4K | 38% |
| Built year | 1981 | 1981 | 50% |
| HOA | $1032.0 | $1.0K | 50% |
| Days on market | 41 | 79 | 25% |
Apr 8, 2026
$1,695,000
$1,800,000
-6% Price Drop
Initial Listing
Mar 12, 2026
$1,800,000
Initial Listing
Jul 1, 1997
$385,000
Public Record