500 Palo Alto Ave

Palo Alto, CA 94301

$4,800,000
Price
—
Beds
—
Baths
6,442 Sq. Ft.
$745 / Sq. Ft.
6,442
Sq. Ft.
$745
per Sq. Ft.
Listed By CompassContingent
Listed By CompassContingent
an aerial view of a house with a yard and trees
a car parked in front of white house
an aerial view of a house with a yard
a view of street with parked cars
a front view of a house with a yard and garage
a view of a chairs and table on the wooden deck
a view of a back yard of the house
a view of street with parked cars
a front view of a house with a yard and fountain
a room with a window and flowerpot
a bathroom with a sink a toilet and shower
a bathroom with a glass shower door
a bathroom with a shower
an empty room with wooden floor and windows
a kitchen with granite countertop a sink stove and refrigerator
a bathroom with a sink and a toilet
wooden floor in an empty room with a window
a kitchen with a sink stove and microwave
a bathroom with a sink a toilet and shower
a kitchen with granite countertop a sink stove and refrigerator
a close view of water heater

Description

True trophy asset in irreplacable downtown Palo Alto location. Excellent Unit Mix: (6) Two-Bedroom / One-Bath & (2) One-Bedroom / One-Bath Units. Numerous recent upgrades including interior updates to at least half of the units with updated kitchen countertops and bathrooms. Beautiful pool and courtyard area. Solid in-place rents with plenty of upside potential through additional unit renovations. Forced Air Heating in every unit, many furnaces replaced in the past few years. Recent replacement of...True trophy asset in irreplacable downtown Palo Alto location. Excellent Unit Mix: (6) Two-Bedroom / One-Bath & (2) One-Bedroom / One-Bath Units. Numerous recent upgrades including interior updates to at least half of the units with updated kitchen countertops and bathrooms. Beautiful pool and courtyard area. Solid in-place rents with plenty of upside potential through additional unit renovations. Forced Air Heating in every unit, many furnaces replaced in the past few years. Recent replacement of water heaters (2023+2025). All copper plumbing. New composition shingle roof installed in 2010. Garage parking for all tenants. Laundry facility on-site. Add 2 ADUs. Convert the garage parking into two new ADU units to add income and value. Incredible location in one of the most prestigious and supply-constrained submarkets of Silicon Valley walking distance to all the shopping, dining & entertainment amenities on University Avenue. The property benefits from its proximity to downtown Palo Alto, Stanford University, and top employers such as Google, Meta, and Palantir, making it highly attractive to both residents and investors. Demand for quality housing in this submarket remains consistently strong due to limited new development and exceptionally high barriers to entry.

Listing Agents

  1. Matt Thomson

    Matt Thomson

    Listing Agent

    Compass

    DRE #01471708

    matt.thomson@compass.com

    P: (650)-515-6555

    CallTextEmail
  2. Bryan Danforth

    Bryan Danforth

    Alternative Listing Agent

    Compass

    DRE #01789680

    CallTextEmail

Property Details for 500 Palo Alto Avenue

MLS City Name
PALO ALTO
Building Type
Other
Garage Spaces
8
Parking Spaces
8
LISTING UPDATED: 12/01/2025 09:32 PM

Property Details for 500 Palo Alto Avenue

StatusContingent
MLS #ML82017965
Days on Compass124
Taxes$57,482 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.29 AC / 12,500 SF
CountySanta Clara County

Location

Listing Courtesy of Compass, Matt Thomson, DRE #01471708; Compass, Bryan Danforth, DRE #01789680
Add your commute

Building Information for 500 Palo Alto Avenue

Stories-Residences-Year Built1958Building Size-Lot Size0.29 AC / 12,500 SF

Payment Calculator

$28,509 per month

30 year fixed, 6.28% Interest

Principal and Interest

$23,719

Property Taxes

$4,790

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 500 Palo Alto Avenue

Features
Features
  • Fireplace: No
  • Living SqFt: 6442
  • Pool: Yes
  • Pool Type: Pool - In Ground
  • Security Features: Security Lights
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Forced Air
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Attached Garage, Tandem Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 8
  • Area Text: Downtown Palo Alto
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 500
  • Street Name: Palo Alto
  • Street Suffix: Avenue
  • Area ID: 242
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 6442
  • Structure SqFt Source: Assessor
  • Age: 67
Development Information
  • Construction Type: Wood Frame
  • Zoning Detail: R1
Location Information
  • Parcel Number: 120-09-021
  • County Name: Santa Clara
  • City Name: PALO ALTO
  • City Postal ID: 46
  • Postal Code: 94301
  • Elementary School District: 481
  • High School District Text: Palo Alto Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .29
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 8
General Information
  • Annual Tax Amount: $57,482
  • Capitalization Rate: 3.98
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 2
Income / Expense Details
  • Expense Insurance: $15,000
  • Expense Landscape: $4,560
  • Expense Maintenance: $5,200
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $5,537
  • Expenses Utility: $19,108
  • Expenses Total: $106,887
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Pool/Spa, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water
  • Gross Rent Multiplier: 15.80
  • Income Annual Gross: $297,792
  • Income Annual Rental: $302,449
  • Income Gross Scheduled: $303,869
  • Income Other: $1,420
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,700
Unit 2 Information
  • Unit 2 Approx Square Footage: 768
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $2,400
Unit Type 1
  • Unit Type1 Approx SqFt: 926

Property History for 500 Palo Alto Avenue

DateEvent & SourcePriceAppreciation
Sep 6, 2025

Pending

EBRD #ML82017965

—
Sep 6, 2025

Contingent - Show

MLSListings #ML82017965

—
Aug 13, 2025

Listed (Active)

EBRD #ML82017965

$4,800,000—
Aug 13, 2025

Listed (Active)

MLSListings #ML82017965

$4,800,000—
DateEvent & SourcePrice
09/06/2025

Pending

EBRD #ML82017965

—
09/06/2025

Contingent - Show

MLSListings #ML82017965

—
08/13/2025

Listed (Active)

EBRD #ML82017965

$4,800,000
08/13/2025

Listed (Active)

MLSListings #ML82017965

$4,800,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 500 Palo Alto Avenue

Taxable ValueLand$295,200Additions$406,678Total$701,878
Tax Record2025$9,576 ($798 / month)
Home Facts
Total Finished SqFt6,442 SqFtAbove Grade Finished SqFt6,442 SqFtStories2Lot Size12,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningR1CountySANTA CLARAAPN120-09-021Fireplace TypeHas Fireplace

Schools near 500 Palo Alto Avenue

This home is within Palo Alto Unified School District.
Rating
School
Type
Grades
Distance
Addison Elementary School
Public - K to 5
Frank S. Greene Jr. Middle
Public - 6 to 8
Palo Alto High School
Public - 9 to 12
Greendell School
Public - K to 12
Rating
School
Distance
Addison Elementary School
PublicK to 5

Frank S. Greene Jr. Middle
Public6 to 8

Palo Alto High School
Public9 to 12

Greendell School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Matt Thomson, DRE #01471708; Compass, Bryan Danforth, DRE #01789680

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.