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Key Details
Sold Price $1,925,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $1,069
MLS Listing ID ML81946018
Sold Date 12/29/23
HOA Y/N No
Year Built 1953
Annual Tax Amount $25,956
Lot Size 7,853 Sqft
Acres 0.1803
Property Description
Incredible add-value opportunity! Fourplex in Midtown Palo Alto strategically positioned on 7,607 SF corner lot. THREE UNITS CURRENTLY VACANT! New owner can implement upgrades and achieve immediate upside. Only ¼ mile walk to Cal Train and California Ave with numerous shopping and dining amenities, public events and regular Sunday farmers market. RM-30 Zoning allows for higher density in this district, giving a buyer options to continue to operate this as a 4-plex with good rental income, or redevelop into other housing, such as brand new condos. All 4 units are 1-bedroom / 1-bath apartments. Originally Studios, the bedrooms were converted from garage space. Tenants enjoy 4 driveway and 2 open parking spaces. 102 Colorado Avenue is an excellent investment opportunity for investors, owner-occupiers & developers.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning RM3
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Fireplace No
Exterior
View Y/N No
Roof Type Composition,Shingle
Accessibility Parking
Total Parking Spaces 6
Building
Story 1
Sewer Public Sewer
Water Public
Schools
School District Palo Alto Unified
Others
Tax ID 13225047
Security Features Security Lights
Financing Conventional
Special Listing Condition Standard
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Bought with Richard Hernandez • Compass
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