1901 Cooley AvePalo Alto, CA 94303

Property Details for 1901 Cooley Ave

Year built

1946

Property size (Sq ft)

3,000 SF

Property type

Apartment buildings

Description

This exceptional East Palo Alto investment opportunity presents a well-maintained four-unit apartment building at 1901 Cooley Ave, situated on a spacious 7,274 square foot corner lot. The property boasts a strong 100% occupancy rate as of September 27, 2024, generating a substantial Net Operating Income (NOI) of $76,431, translating to a compelling 5.48% capitalization rate. The building, constructed in 1946, comprises two stories and features a mix of unit types: two oversized one-bedroom, one-bathroom units and two studio apartments. Each unit enjoys access to a private yard, enhancing tenant appeal. Ample parking is provided with eight spaces, including two garages, one equipped with washer/dryer hookups. The property's prime location offers convenient access to downtown Palo Alto's vibrant amenities, blending urban convenience with suburban tranquility. With a total square footage of 3,000 net rentable square feet, the asking price is $1,395,000, or $465 per square foot and $348,750 per unit. The property's APN is 063-481-210. This presents a rare chance to acquire a stable, high-performing multifamily asset in a highly desirable Silicon Valley location. Detailed financial information is available upon request.

Location Insight

City

Palo Alto

County

San Mateo

State

California

Latitude

37.4558

Longitude

-122.139

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