1033 Amarillo Avenue

Palo Alto, CA 94303

$6,298,000
Price
Beds
3,276 Sq. Ft.
$1,922 / Sq. Ft.
3,276
Sq. Ft.
$1,922
per Sq. Ft.

Description

Discover an extraordinary opportunity in Palo Alto's vibrant midtown: a sprawling 21k sq ft property, one of the area's largest and most desirable lots. This unique offering includes 4 charming cottages: three 2-bed, 1-bath, and one 1-bed, 1-bath homes, complete with 5 garages, blending cozy living with vast development potential. Just got voted and approved for subdivision into two 10k sq ft lots, the site is ripe for the creation of two luxurious single-family homes, potentially spanning 5,000...Discover an extraordinary opportunity in Palo Alto's vibrant midtown: a sprawling 21k sq ft property, one of the area's largest and most desirable lots. This unique offering includes 4 charming cottages: three 2-bed, 1-bath, and one 1-bed, 1-bath homes, complete with 5 garages, blending cozy living with vast development potential. Just got voted and approved for subdivision into two 10k sq ft lots, the site is ripe for the creation of two luxurious single-family homes, potentially spanning 5,000 sq ft each. The flexibility extends to the option of constructing two 4,000 sq ft main residences plus two expansive 1,200 sq ft ADUs, potentially leveraging the latest AB 1033 bill allowing ADUs to be sold as separate condos. This opens the door to transforming the property into four distinct units, with a resale value potential of $15-20M. The proposed development offers an exceptional profit margin, all within a prime location near Stanford University, Downtown Palo Alto, and top rated schools.
  1. Listed by Wen Guo RE Group • DRE #70010161 • Brokerage DRE #01906450 • KW Advisors • 650-817-5000

Property Details for 1033 Amarillo Avenue

MLS City Name
PALO ALTO
Building Type
FOURPLEX
Garage Spaces
5
Parking Spaces
3
Cross Street
Greer

Location

Listing Courtesy of KW Advisors, Wen Guo RE Group, DRE #70010161
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LISTING UPDATED: 04/21/2024 12:20 AM

Property Details for 1033 Amarillo Avenue

StatusActive
MLS #ML81958081
Days on Compass42
Taxes$62,403 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / Fourplex
Year Built1947
Lot Size0.48 AC / 20,788 SF
CountySanta Clara County

Location

Listing Courtesy of KW Advisors, Wen Guo RE Group, DRE #70010161
Add your commute

Virtual Tour

Building Information for 1033 Amarillo Avenue

Stories1Residences4Year Built1947Building Size-Lot Size0.48 AC / 20,788 SF

Payment Calculator

$39,571 per month

30 year fixed, 7.25% Interest

Principal and Interest

$34,371

Property Taxes

$5,200

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1033 Amarillo Avenue

Features
External Links
Room Information
  • Kitchen: Countertop - Solid Surface / Corian, Dishwasher, Garbage Disposal, Oven Range - Gas, Refrigerator
Features
  • Fireplace: No
  • Flooring: Laminate, Stone, Tile, Carpet, Hardwood
  • Laundry: Washer / Dryer
  • Living SqFt: 3276
  • Pool: No
  • Security Features: Other
  • Special Features: Other
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Attached Garage, Detached Garage
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: South Palo Alto
  • Roof: Shingle, Composition
  • Subclass: Fourplex
  • Year Built Source: Assessor
  • Street Number: 1033
  • Street Name: Amarillo
  • Street Suffix: Avenue
  • Area ID: 233
Lot / Property Details
Building Information
  • Number Of Stories: 1
  • Number of Buildings: 4
  • Structure SqFt: 3276
  • Structure SqFt Source: Assessor
  • Age: 77
Development Information
  • Zoning Detail: R1
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 127-02-006
  • County Name: Santa Clara
  • City Name: PALO ALTO
  • City Postal ID: 46
  • Postal Code: 94303
  • Elementary School District: 481
  • High School District Text: Palo Alto Unified
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Acres: .48
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
Building Information
  • No Of Leased: 3
General Information
  • Annual Tax Amount: $62,403
  • Building Unit Total: 4
  • Capitalization Rate: 1.52
  • Tenant Expenses: Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • Income Includes: Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $3,000
  • Expense Landscape: $7,000
  • Expense Maintenance: $7,000
  • Expense Management: $6,000
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $0
  • Expenses Total: $85,403
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Services - Gardener
  • Gross Rent Multiplier: 33.76
  • Income Annual Gross: $180,944
  • Income Annual Rental: $186,540
  • Income Gross Scheduled: $186,540
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $3,995
Unit 2 Information
  • Unit 2 Approx Square Footage: 860
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $3,950
Unit 3 Information
  • Unit 3 Approx Square Footage: 700
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $3,750
Unit 4 Information
  • Unit 4 Approx Square Footage: 860
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 2
  • Unit 4 Rent: $3,850
Unit Type 1
  • Unit Type1 Approx SqFt: 860

Property History for 1033 Amarillo Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1033 Amarillo Avenue

Taxable ValueLand$5,181,192Additions$20,808Total$5,202,000
Home Facts
Beds2Total Finished SqFt868 SqFtAbove Grade Finished SqFt868 SqFtStories1Lot Size20,710 SqFtStyleSingle Family ResidenceYear Built1947ZoningR1CountySANTA CLARAAPN127-02-006

Schools near 1033 Amarillo Avenue

This home is within Palo Alto Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Palo Verde Elementary School
PublicK to 5

Jane Lathrop Stanford Middle School
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.

Similar Homes

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1033 Amarillo Avenue is a multi-family home for sale in Palo Alto, CA 94303. This property was listed for sale on March 18, 2024 by KW Advisors, it's currently listed at $6,298,000. It has been on the market for a total of 42 days and was last sold on April 30, 2021. This listing's school district is Palo Alto Unified School District. Nearby schools include Palo Verde Elementary School, Jane Lathrop Stanford Middle School and Palo Alto High School. 1033 Amarillo Avenue is a 0-bed, 0-bath, 3,276 sqft multi-family home built in 1947.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Advisors, Wen Guo RE Group, DRE #70010161

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.