183 Everett AvePalo Alto, CA 94301

Property Details for 183 Everett Ave

Year built

1905

Lot size

0.07 AC

Property size (Sq ft)

1,335 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a three-unit apartment building located at 183 Everett Ave, Palo Alto, CA 94301. The property, situated on a 0.07-acre lot, boasts a total of 1,335 square feet of net rentable space. Built in 1905, the property consists of two one-story buildings and features a mix of unit sizes, including a two-bedroom, one-bathroom unit; a one-bedroom, one-bathroom unit; and a studio unit. The current occupancy is 100%, generating a Net Operating Income (NOI) of $74,673, with a pro-forma NOI of $83,985. The asking price is $2,700,000, representing a price per square foot of $2,022.47 and a price per unit of $900,000. The property's current cap rate is 2.77%, with a pro-forma cap rate of 3.11%. The permitted zoning is RM4. The property is ideally located in the heart of Downtown Palo Alto, offering convenient access to restaurants, shops, Stanford University, and the Stanford Shopping Center. All units have been upgraded with modern kitchens, bathrooms, flooring, and in-unit washers and dryers. The pro-forma NOI includes estimated income from a potential Accessory Dwelling Unit (ADU). This property offers a compelling combination of location, income, and potential for future appreciation, making it an attractive investment opportunity in a highly desirable market. The Santa Clara County Assessor's Parcel Number (APN) is 120-25-039.

Location Insight

City

Palo Alto

County

Santa Clara

State

California

Latitude

37.4462

Longitude

-122.165

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].