365 Everett AvePalo Alto, CA 94301

Property Details for 365 Everett Ave

Year built

1954

Construction

WOOD

Lot size

0.33 AC

Property size (Sq ft)

8,746 SF

Zone code

RM4

Property type

Apartment buildings

APN

120-14-036

APU

12014036

Description

This exceptional investment opportunity presents an eleven-unit apartment building located at 365 Everett Ave, Palo Alto, CA 94301. The property boasts 8,746 square feet of net rentable space situated on a 0.33-acre lot. Built in 1954, this two-story building features a mix of unit types: one two-bedroom, one-bathroom unit and ten one-bedroom, one-bathroom units. Three units have been recently renovated, featuring upgraded flooring, kitchens, and bathrooms. Amenities include on-site laundry, dedicated carports and parking, and private courtyards and patios for select units. The property enjoys 100% occupancy, generating a current NOI of $262,353 and a pro-forma NOI of $311,427, representing a 3.72% cap rate and a pro-forma cap rate of 4.42%. The asking price is $7,050,000, or $640,909 per unit. The property is zoned RM4 and its convenient location offers easy access to downtown Palo Alto, Stanford University, and the Stanford Shopping Center. This prime location ensures consistent rental demand and strong potential for future appreciation. The property's strong financial performance, desirable location, and attractive amenities make it an ideal addition to any investment portfolio. The APN is 120-14-036.

• CAP approach

  CAP return

  Valuation

  6%

  $5,500,866

  6.5%

  $5,077,722

  7%

  $4,715,028

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,931,092

  Geo Method

  $3,780,988

• Alternative Use

  Use

  Valuation

  Residential

  $5,077,722

  Hospitality

  $4,651,166

  Educational

  $3,869,716

  Medical

  $4,002,801

  Retail

  $6,019,558

Location Insight

City

Palo Alto

County

Santa Clara

State

California

Latitude

37.4485

Longitude

-122.164

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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