Listing Broker: Cornish & Carey Commercial
Listing Agent: David O'such
DRE #01954054: 01033820
650-465-1100
Located in downtown Palo Alto, this mixed-use property is zoned CD-C(P) which allows for the second floor to be converted into residential. Ground floor is 2,570 square feet and leased to one office tenant and one retail tenant. Take advantage of up to 2,500 bonus square feet completing a historical upgrade to the building and use the bonus square footage to build out a residential unit on the second floor. The property is served by the Palo Alto Unified elementary school district. The building features central forced air heating and central air conditioning for year-round comfort. Notably, there is an exclusive parking area behind the building for 7 on site parking stalls. This property provides a value add opportunity for an investor interested in expanding the square footage of the property with a second floor residential unit, improving the ground floor rental rate with fresh cosmetic renovations.
| Listing Id: | ML82064622 |
|---|---|
| Property Type: | Residential Income |
| Status: | Active |
| Living Area: | 2,570 |
| Tax Annual Amount: | $5,194 |
| Lot Size Acres: | 0.1124 |
| Waterfront?: | No |
| Year Built: | 1900 |
| Basement Yn: | No |
| Carport Spaces: | 0.0 |
| Cooling: | CentralAir |
| Gross Scheduled Income: | $144,945 |
| Heating: | Central |
| Listing Contract Date: | 2026-10-14 |
| Lot Size Area: | 4895.0 |
| Lot Size Source: | Other |
| Maintenance Expense: | $13,684 |
| State Or Province: | CA |
| Trash Expense: | $1,187 |
| Water Source: | Public |
| Zoning: | CDC(P) |
| Property Sub Type Additional: | MixedUse |
| Country Subdivision: | 06085 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:06085:12015082 |
| List Price: | $3,450,000 |
|---|---|
| Property Sub Type: | MixedUse |
| Lot Size Square Feet: | 4,895.0 |
| City: | Palo Alto |
| County Or Parish: | Santa Clara |
| Postal Code: | 94301 |
| Accessibility Features: | Parking |
| Building Area Total: | 2570.0 |
| Cooling?: | Yes |
| Directions: | Cross Street: University Ave. |
| Garage Spaces: | 0.0 |
| Heating?: | Yes |
| High School District: | Palo Alto Unified |
| Insurance Expense: | $12,748 |
| Listing Agreement: | ExclusiveRightToSell |
| Living Area Source: | Other |
| Lot Size Acres: | 0.1124 |
| Lot Size Units: | SquareFeet |
| MLS Area Major: | 699 - Not Defined |
| Number Of Buildings: | 1 |
| Original List Price: | $3,450,000 |
| Parcel Number: | 12015082 |
| Parking Total: | 7 |
| Postal City: | PALO ALTO |
| Roof: | Composition |
| Sewer: | PublicSewer |
| Special Listing Conditions: | Standard |
| Stories Total: | 2 |
| Year Built Source: | Other |
| Current Price: | $3,450,000.00 |
| Record Signature: | 1,035,420,075 |
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Based on information from California Regional Multiple Listing Service, Inc. as of October 15, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
California Regional Multiple Listing Service, Inc. data last updated on October 15, 2026 12:54 AM - PT
Property Last Updated: October 15, 2026 12:54 AM - PT
