Nestled in the heart of Downtown Palo Alto University South, one of Palo Altos most desirable neighborhood and a few minutes away from Palo Alto CALTrain station. The property presents a rare opportunity to own a 14-unit multi-family property offering both strong income and long-term growth potential. Built in 1961 on an expansive 17,500 sqft (0.40 acre) lot, this 2-story building features approximately12,830 sqft of living area, (740-1100 sqft per unit, buyer to verify square footage). All the units have 3-4 sided independent walls & balconies, granite slab, newer appliances and fixtures. Most have dishwasher, washer and dryer in unit. The property's beautifully landscaped grounds are a standout feature with a variety of mature fruit trees & a peaceful garden courtyard that creates a serene atmosphere for residents. The 1- & 2-bed apartments' actual rents ($2,900 -$5,100/mo) in one of the regions strongest rental markets. 11 units were remodeled in 2022-2023 and the rest of 3 units were updated approximately 10 years ago. Roof, gutter, furnaces, windows, hot water heaters, circulator etc. were replaced over the years of ownership. Ample off-street permitted parking & on-site laundry facilities. Deck, property & termite reports available. An A+ property.
