246 Palo Alto Avenue, Palo Alto, CA 94301
- $3,495,000
- 1
- BD
- 1
- BA
- 1,020
- SqFt
- List Price
- $3,495,000
- Status
- ACTIVE
- MLS#
- ML82059476
- Price Change
- ▼ $255,000 1790378021
- Days on Market
- 31
- Property Type
- Single Family Residence
- Bedrooms
- 1
- Bathrooms
- 1
- Living Area
- 1,020
- Lot Size
- 7,150
Property Description
RARE DOWNTOWN NORTH DEVELOPMENT OPPORTUNITY | Exceptional 7,150 SF site just 3 blocks from University Ave and Downtown Palo Alto Caltrain offers multiple paths to create significant value. City-approved architectural plans envision an approx. 4,365 SF modern 3-level luxury residence with 4BD/3.5BA + attached JADU, expansive entertaining spaces, basement great room, wine room and indoor/outdoor living. The property's exceptional proximity to Caltrain may also provide compelling potential for higher-density transit-oriented residential development under evolving state and local regulations. Rare opportunity for an end-user, builder, developer or investor near Downtown Palo Alto, Stanford and major Silicon Valley employment centers. Existing improvements convey as-is. Buyer to independently verify current zoning, density, unit count, parking, SB 79/AB 2097 applicability and all development standards with the City of Palo Alto.
Additional Information
- Stories
- One Story
- Year Built
- 1923
- Acres
- 0.16
- School District
- Palo Alto Unified
- Roof
- Shingle
- Flooring
- Hardwood
- Kitchen Features
- Tile Counters
- Fireplaces
- 1
- Fireplace Description
- Wood Burning
- Garage Spaces
- 1
- Cooling
- None
- Heating
- Other
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Listing courtesy of Julie Tsai Law from Compass
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